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Far North Dallas Residential Sales Report for February

Single-Family:

Sales were up by 1% in the Far North Dallas area in February. The average sales price had a slight drop of 1% but the median sales price increased by 10%. Pending sales climber by 9%. The new listings fell by 16% and the active listings also by 16%. The months of inventory is now at 1.3 months. Really no change from the previous months. Very low inventory and prices continuing to climb.

Sales: 75

Average Sales Price: $368,626

Median Sales Price: $350,000

Pending Sales:83

New Listings: 94

Active listings: 133

Months of Inventory: 1.3

Condos and Townhouses:

Sales were up by 8%. The average sales price declined by6% while the median price was off by 11%. Looks like were has some additional sales in the lower prices ranges pulling the averages down. Pending sales were up by 64%. New listings were flat and the active listings declined by 41%. The months of inventory is now at 1 month. Tuff to find a condo or townhouse.

Sales: 42

Average Sales Price: $143,973

Median Sales Price: $109,780

Pending Sales: 41

New Listings: 47

Active Listings:46

Months of Inventory: 1

Leases:

Leases were down by 32% in February. The average rent increased by 2% and the median rent by 10%. Pending leases jumped by 82%. New Listings fell by 6% and the active listings declined by 15%. The months of inventory is at 1.5 months. It’s just as hard to find a homes to lease as it is to find one to buy.

Leases: 26

Average Rent: $1,415

Median Rent: $1,450

Pending Leases: 20

New Listings: 50

Active Listings: 66

Months of Inventory: 1.5

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

Dallas Area Residential Sales Report for Febuary

Single-Family:

The sales of single-family homes were flat in February. The average sales price increased by 8% while the median sales price was up by 9%. Pending sales rose by 9%. The number of new listings dropped by 1% but the active listings declined 16% causing the months of inventory to fall to 3.2 months.

Sales of homes below $170,000 are just terrible with declines in every price range in double digits due to the low inventory. Yesterday I heard an agent with a nice home in Allen priced at $150,000 recieved 70 offers. Homes above the $170,000 number for the most part are seeing double digit increases in sales with home in the $200,000 to $400,000 range being most in demand.

Sales: 5,593

Average Sales Price: $249,715

Median Sales Price: $191,000

Pending Sales: 6,239

New Listings: 8,358

Active Listings: 16,140

Months of Inventory: 3.2

Condos and Townhouses:

Condo and townhouse sales were up by 9%. The average sales price jumped by 11% and the median price by 16%. Pending sales increased by 17%. The new listings fell by 2% and the active listings by 21%. The months of inventory dropped to 3 months.

Sales: 420

Average Sales Price: $228,498

Median Sales Price: $172,200

Pending Sales: 461

New Listings: 575

Active Listings: 1,075

Months of Inventory: 3

Leases:

There was a sharp drop of 15% in the number of signed leases in February. The average rent increased by 5% and the median rent was up by 6%. The number of pending leases increases by 148%. New listings fell by 8% but the active listings increased by 1%. there is some obvious gyrations going on this month in the leasing market.

Leases: 2,546

Average Rent: $1,475

Median Rent: $1,380

New Listings: 2,643

Active Listings: 3,529

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

Frisco Texas Residential Sales Report for January

Single-Family:

Sales were off by 9% in Frisco for January. The average sales price increased by 14% while the median sales price was up by 11%. As in other areas, the sales were down because buyers are having a hard time finding a house to buy due to the extremely small inventory. this small inventory is also the reason prices are continuing to climb. The pending sales were of by 13%. The number of new listings dropped by 16% and the active listings by 8%. The months of inventory fell to 1.3 months.

Sales: 163

Average Sales Price: $366,931

Median Sales Price: $335,000

Pending Sales: 200

New Listings: 279

Active listings: 421

Months of Inventory: 1.3

There are not enough condos and townhouses in Frisco to make a meaningful report.

Leases:

Leases were down by 5%. the average rent was flat and the median rent increased by 1%.

Pending leases jumped by 92%. the number of new listings increases by 33% and the active listings by 50%. These increases really did not help because the months of inventory is still very low at 1.3 months.

Leases: 135

Average rent: $1,870

Median Rent: $1,800

Pending Leases: 73

New Listings: 177

Active Leases: 189

Months of Inventory: 1.3    

McKinney, TX Residential Sales Report for January

Single-Family Homes:

Sales in January were up by 11% in McKinney. The average sales price jumped 19% while the median sales price climber by 27%. While prices are surely go up, these large increases in the averages are caused by the lack of sales in the lower price ranges. There was an 8% drop in the number of pending sales. We continue to see declining new  and active listings. New listings were off by 22% and active listings by 21%. The months of inventory now stands at 1 month.

Sales: 153

Average Sales Price: $290,055

Median Sales Price: $262,000

Pending Sales:  137

New Listings: 181

Active Listings: 236

Months of Inventory: 1

There are not enough condos and townhouses in McKinney to report numbers on.

Leases:

Leases were off by 7% in January. The average rent declined by 2% and the median rent by 3%. It looks like just the opposite of sales with a few more rentals in the lower price ranges pulling the averages down. Pending leases jumped by 231%. We did see the new listings increase by 14%

and the active leases by 46%. even with these nice increases the months of inventory is a 1.4 months. Not a lot to chose from!

Leases: 75

Average Rent: $1,621

Median Rent: $1,550

Pending Leases: 42

New Listings: 97

Active Listings: 123

Months of Inventory: 1.4

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

Single Family:

Sales were up by 16% in Allen for January compared to last January. The average sales price increased by 27% while the median sales price jumped by 26%. As in other areas these large increases in the averages are caused by more sales occurring in the upper price ranges. The number of pending sales declined by 1%. The new listings dropped by 15% but the active listings increases by 22%. The months of inventory remains very low at 1.4 months.

Sales: 64

Average Sales Price: $331,764

Median Sales Price: $280,950

Pending Sales: 80

New Listings: 93

Active Listings: 167

Months of Inventory: 1.4

Condos and Townhouses:

There are not enough condos and townhouses in Allen to report the data in any meaningful way.

Leases:

Leases increased by 15%. The average rent increased by 22% and the median rent by 15%. As in residential sales these increases are caused by more properties leasing in the upper price ranges. Pending leases jumped by 157%.  New listings were flat and the active listings declined by 21% dropping the months of inventory to 1.1 months.

Leases: 30

Average Rent: $1,809

Median Rent: $1,750

Pending Leases: 18

New Listings: 47

Active listings: 48

Months of Inventory: 1.1

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

Plano, TX Residential Real Estate Sales Report for January

Single-Family:

Sales in January were up by 2%. The average sales price increased by 22% while the median sales price was up by 3%. Looks like there were a couple of high priced sales that pulled the average sales price up by such a large amount. Pending Sales rose by 7%. The new listings continued to decline and were down by 11%. The active listings dropped by 30% leaving the months of inventory at 0.8 months. Sure makes it difficult to find a home.

Sales: 182

Average Sales Price: $353,322

Median Sales Price: $262,000

Pending Sales: 210

New Listings: 252

Active Listings: 252

Months of Inventory: 0.8

Condos and Townhouses:

Plano does not have a lot of condos and townhouses so the data can be erratic.

Condo and townhouse sales were off by 30%. The average sales price declined by 25% and the median price by 34%. Pending sales dropped 20%. The number of new listings increases by 12% while the active listings declined by 5%. The months of inventory increased to a whopping 0.8 months.

Sales: 14

Average Sales Price: $161,588

Median Sales Price: $120,500

Pending Sales: 20

New Listings: 28

Active listings: 18

Months of Inventory: 0.8

Leases:

Leases increased by 7% in January. The average rent was up by 4% and the median rent by 2%. Pending leases jumped by 161%. The number of new listings declined by 2% while the active listings increases by 20%. The months of Inventory now stands at 1.4 months.

Leases: 118

Average Rent: $1,787

Median Rent: $1,700

Pending Leases: 60

New Listings: 167

Active Listings: 219

Months of inventory: 1.4  

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

Richardson, TX Residential Sales Report for January

Single-Family:

Sales were down by 8% in the Richardson area for January. As in the previous months this decline in sales is not due to less demand but to the shortage of available homes for sale. The average sales price increased by 14% while the median sales price was up by 7%. Pending sales were up by 15%. The number of new listings declined again this time by 9% and the active listings dropped by 32%. there is now a 0.7 month supply of homes for sale in the area.

Sales: 67

Average Sales Price: $ 233,755

Median Sales Price: $200,200

Pending Sales: 90

New Listings: 86

Active listings: 68

Months of Inventory: 0.7

Condos and Townhouses:

Richardson does not have a large number of condos and townhouses so the numbers can be erratic:

Sales were up by 229%. The average sales price increased by 4% while the median sales price  declined by 37%. Looks like there were a number of sales at the lower end of the rage but also some sales at the top end. Pending sales were up by 30%. the new listings increased by 35% but this did not offset the decline of 31% in the number of active listings. The months of inventory is now at 1.9 months.

Sales: 23

Average Sales Price: $99,545

Median Sales Price: $48,000

Pending sales: 13

New Listings: 23

Active Listings: 27

Months of Inventory: 1.9

Leases:

Residential leases were off by 47% in January. The average rent increased by 11% and the median by 4%. Pending leases increased by 30%. The new listings dropped by 24% and the active listings by 17%. there is a 1.3 months supply. just a little better than homes for sale.

Leases: 23

Average Rent: $1,550

Median Rent: $1,450

Pending Sales: 13

New Listings: 41

Active Listings: 50

Months of Inventory: 1.3

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

Far North Dallas Residential Sales Report for January

Single-Family:

Sales were up by 37% in January. The average sales price was down by7% but the median price was up by 12%. Pending sales showed a dip of 11%. The number of new listings declined by 16% while the active listings dropped by 5%. Nothing new here. Same story. No inventory. The months of supply is now at 1.4 months.

Sales: 70

Average Sales Price: $379,043

Median Sales Price: $340,000

Pending Sales: 65

New Listings: 91

Active listings: 144

Months of inventory: 1.4

Condos and Townhouses:

Sales increased by 10%. The average sales price declined by 1% while the median sales price jumped by 33%. Pending sales dropped by 23%. the number of new listings was down by 10% and the active listings by 36%. The months of inventory is 1 month. Very difficult to find a condo or a townhouse with this short supply.

Sales: 33

Average Sales Price: $138,978

Median Sales Price: $116,500

Pending Sales: 31

New Listings: 35

Active Listings: 45

Months of inventory: 1.0

Leases:

Residential leases were off by 33%. the average rental rate declined by 2% while the median rate increased by 3%. Pending leases jumped by 117% but this was comming off a very low number from last year. The number of new listings dropped by 14% and the active listings declined by 4%. The months of inventory  is at 1.5 months.

Leases: 34

Average rental: $1,751

Median Rental: $1,750  

Pending Leases: 13

New Listings: 54

Active Listings: 67

Months of inventory: 1.5

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

Dallas Area Residential Sales Report for January

Single-Family:

Single-family home sales increased by 3% in January. The average sales price increased by 9% while the median sales price was up by 12%. We continue to see the sales concentrated in the upper price ranges with very little participation under $140,000. Pending sales were also up 3%. The number of new listings were down by 4% and the active listings by 14%. Months of inventory now stands at 3.3 months

Condos and Townhouses:

Condo and townhouse sales were off by 7%. The average sales price increased by 6% but the median sales price declined by 3%. this is an indication of an increase in sales in the lower price ranges. Pending sales increased by 3% while the number of new listings dropped by 10% and the active listings by 14%. the months of inventory is sitting at 3.9 months.

Leases:

Residential leases were off by 8%. The average rent increased by 4% and the median rent by 8%. The pending leases jumped a whopping 134%. New listings declined 5% and the active listings fell by 6%.

Information provided by the Real Estate Center at Texas A&M.

Frisco, TX Residential Sales Report for December

Single-Family:

Sales were up by 10% in Frisco for December. the average sales price increased by 7% and the median price by 11%. The pending sales number increased by 10%. We saw a good jump of 16% in the number of new listings but the number of active listings continued to fall and was down by 10%. the months of inventory declined to 1.3 months.

Sales: 291

Average Sales Price: $365,799

Median Sales Price: $ 328,000

Pending Sales: 166

New Listings: 186

Active listings: 410

Months of Inventory: 1.3

Condos and Townhouses:

There are not enough condos and townhouses located in Frisco to generated any useful data.

Leases:

The number of residential leases in Frisco increased by 13% in December. The average rent increased by 14% while the median rent increased by 6%. Looks like we had more rentals in the lower price ranges in this month. Pending leases jumped 167%. The new listings increased by 33% pushing up the number of active listings by 22%. There was a slight increase in the months of inventory to 1.4 months which still does not leave us with much supply.

Leases: 103

Average Rental Rate: $2,079

Median Rental Rate: $1,850

Pending Leases: 64

New Listings: 153

Active Listings: 202

Months of Inventory: 1.4

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