Lake Highlands/NE Dallas Residential Sales Report for October

Single-Family:

Sales were off 13% in the area as compared  to a year ago. Part of the problem, as in other areas, is the extreme shortage of homes on the market. Buyers are just having a very hard time finding a home. The average sales price increased  23% and the median sales price rose 17%. The averages keep getting pushed up partially due to the lack of properties under $200,000. In October there were 2 sales below $200,000. Pending sales also took a nose dive off 24%. The number of new listings fell 25% and the active listings declined 4%. The months of inventory is now 2.2 months. Until we start to see increases in new listings, prices will continue to rise.

Sales: 63
Average Sales Price: $405,754
Median Sales Price: $384,640
Pending Sales: 58
New Listings: 62
Active Listings: 141
Months of Inventory: 2.2

Information provided by The Real Estate Center at Texas A&M