Bob Edmonson's Dallas TX Property Values Blog

Dallas Home Sales Stats for February

2012-03-23T16:45:00.003-05:00

February was another strong month for sales in Dallas, helping to lend more credence to the current thought, not just mine, that the housing market has turned the corner. I speculated about this last month, as buyers were out in force in January, normally a pretty crummy month for home sales. Overall sales in Dallas were up 27% in February vs year ago, the biggest rise in 6 months, and 20% year to date. Reasons range from an improvement in consumer sentiment and growing optimism about the job market to the undisputable truth that mortgage interest rates might never be this low again in our lifetimes. And the weather was pretty decent, too, not only in Dallas, but in most of the nation. The press has been latching on to this, so there is a good chance you are reading more uplifting stories or seeing more encouraging reports online and on tv. Some of the news included a 16.3% increase in housing starts over year ago numbers for the DFW area, according to the Dallas Federal Reserve Bank, and a drop of 20% in home foreclosure filings in DFW, according to CoreLogic, the 13th consecutive month foreclosure filings have been lower than the year before.

RISMedia stated this month that seller's asking prices have gone "positive" on a year-to-year basis for the first time in six years. This is particularly good news, as Dallas median sales prices for the overall market have been pretty flat or down a percent or two the last few years. Possibly spurring this on is the 29.7% drop in the months' supply of inventory/homes for sale, this February vs year ago. Overall Dallas inventory is 5.2 months, down from 7.4 months in February a year ago. We are still seeing a little imbalance with demand exceeding supply the first two months of the year. We are seeing mulitiple offers on lots of properties, with Realtors tweeting the need to find "hip pockets", soon-to-be-listed homes. This demand will likely continue to be strong (I am always optimistic!), but I think we'll see more homes coming to market as sellers gain confidence in the market's strength and pricing stability.

Already, mortgage interest rates, which move with the 10-year Treasury bond, are inching upward, up 0.375 points from early February to 4.0% for the 30-year note as I write this. This time, this move might stick. No one knows, but the ingredients are there for a bottoming out of interest rates, and we might have just been there. With the bulk of the spring market still ahead, we will have a pretty good idea of how this year will turn out in another 60-90 days.

Here are the details for single family homes and condo/townhome sales in selected areas. For a more comprehensive look at any one market, give me a call at my Allie Beth Allman office or on my cell, 214-563-8540. Scroll down for the "Sales by Price Category" info. DOM is short for Days on Market. Median Price pertains to sales occurring in the period(s).

Overall Market (North Texas):
Feb 12 vs 11: Sales up 27%, med price up 1%, DOM 91, down 5%.
YTD 12 vs 11: Sales up 20%, med price unchanged, DOM 91, down 5%.

Uptown, Downtown and Turtle Creek (Condos and Townhomes):
Feb 12 vs 11: Sales up 33%, med price down 3%, DOM 118, down 28%.
YTD 12 vs 11: Sales up 14%, med price down 7%, DOM 123, down 20%.

Highland Park and University Park, Bluffview, Devonshire and Greenway Parks:
Feb 12 vs 11: Sales up 24%, med price down 4%, DOM 96, down 9%.
YTD 12 vs 11: Sales up 19%, med price up 15%, DOM 96, down 16%.

East Dallas (incl M's and Lakewood):
Feb 12 vs 11: Sales up 56%, med price up 36%, DOM 109, up 5%.
YTD 12 vs 11: Sales up 34%, med price up 19%, DOM 103, down 6%.

North Dallas (South of LBJ):
Feb 12 vs 11: Sales up 48%, med price down 21%, DOM 146, down 26%.
YTD 12 vs 11: Sales up 44%, med price down 22%, DOM 131, down 20%.

Far North Dallas (incl Addison and to Park Blvd in Plano):
Feb 12 vs 11: Sales up 49%, med price down 10%, DOM 88, unchanged.
YTD 12 vs 11: Sales up 29%, med price down 8%, DOM 90, up 5%.

Northwest Dallas:
Feb 12 vs 11: Sales up 14%, med price up 66%, DOM 87, down 10%.
YTD 12 vs 11: Sales up 38%, med price up 19%, DOM 91, down 5%.

Northeast Dallas (incl Lake Highlands):
Feb 12 vs 11: Sales up 72%, med price down 2%, DOM 100, up 23%.
YTD 12 vs 11: Sales up 35%, med price down 7%, DOM 87, down 9%.

Plano:
Feb 12 vs 11: Sales up 30%, med price up 5%, DOM 86, up 1%.
YTD 12 vs 11: Sales up 17%, med price up 6%, DOM 84, down 6%.

Frisco:
Feb 12 vs 11: Sales down 16%, med price up 7%, DOM 87, down 11%.
YTD 12 vs 11: Sales up 1%, med price up 7%, DOM 85, down 13%.

Richardson:
Feb 12 vs 11: Sales up 2%, med price up 9%, DOM 72, down 12%.
YTD 12 vs 11: Sales up 7%, med price up 11%, DOM 85, up 5%.

Southlake:
Feb 12 vs 11: Sales up 43%, med price down 3%, DOM 93, down 3%.
YTD 12 vs 11: Sales up 40%, med price down 5%, DOM 94, down 9%.

Coppell:
Feb 12 vs 11: Sales up 24%, med price up 34%, DOM 105, up 22%.
YTD 12 vs 11: Sales down 4%, med price up 16%, DOM 89, down 5%.

Allen:
Feb 12 vs 11: Sales up 28%, med price down 16%, DOM 79, down 26%.
YTD 12 vs 11: Sales up 13%, med price down 4%, DOM 88, down 4%.

Rockwall (incl Heath):
Feb 12 vs 11: Sales up 4%, med price down 11%, DOM 102, down 16%.
YTD 12 vs 11: Sales up 19%, med price down 11%, DOM 100, down 12%.

Here is a look at Single Family home sales by price category for YTD 2012 vs 2011:

$200-299K (16.8% of sales): up 27%, 7 months inventory
$300-399K (6.7% of sales): up 7%, 10 months inventory
$400-499K (2.6% of sales): up 29%, 13 months inventory
$500-599K (1.4% of sales): down 6%, 14 months inventory
$600-699K (0.8% of sales): up 10%, 17 months inventory
$700-799K (0.4% of sales): down 27%, 25 months inventory
$800-899K (0.3% of sales): up 29%, 22 months inventory
$900-999K (0.2% of sales): down 11%, 25 months inventory
$1MM and up (0.9% of sales): up 25%, 24 months inventory

Here is a look at Condos and Townhomes sales by price category for YTD 2012 vs 2011.

$200-299K (17.4% of sales): 88 units vs 48 units year ago, 9 months inventory
$300-399K (2.6% of sales): 13 units vs 23 units year ago, 30 months
$400-499K (3.6% of sales): 18 units vs 10 units year ago, 12 months
$500-599K (2.2% of sales): 11 units vs 4 units year ago, 16 months
$600-699K (0.2% of sales): 1 unit vs 1 unit year ago, 44 months
$700-799K (0.2% of sales): 1 unit vs 1 unit year ago, 52 months
$800-899K (0.2% of sales): 1 unit vs 2 units year ago, 54 months
$900-999K (0.0% of sales): 1 unit vs 0 units year ago, 30 months
$1MM + (0.2% of sales): 1 units vs 1 units year ago, 136 months

Bob Edmonson
Allie Beth Allman & Assoc.
(214)563-8540

Dallas TX Homefinder Website Dallas TX Home Values Blog---Dallas TX Homes for Sale, Condos and Real Estate Highland Park Real Estate, University Park Real Estate,Uptown Dallas Real Estate, M-Streets Real Estate

Dallas Home Sales Stats for January

2012-02-28T11:59:00.002-06:00

The year is off to a fast start, with January home sales posting a 14% increase over last year's January sales. Activity seemed to pick up just as mortgage interest rates dipped below 4%, finally grabbing buyers' attention after a year of good but not robust sales. Other factors are at work as well, including an improvement in jobs growth, consumer confidence and high rental rates. In most situations, a mortgage payment is less than a rent payment now, and those renters who can make a down payment are beginning to reconsider apartment life. Job growth and the economic recovery is still very fragile, with lots of uncertainty regarding outside (government) influences on business and business' hiring decisions, so while the market is still testing the water, the water is getting warmer.

Buyers also discovered fewer homes to choose from in January, as they got a head start on sellers, who were still wondering if this is now the time to put the house on the market. Prices are still flat, for the most part. But, the spring market typically launches about now, as I write this, late February/early March. The earlier start to the prime selling season caught sellers off guard, who were still packing up the Christmas decorations. February is seeing this imbalance beginning to correct itself, and if the early trends continue, we should have a healthy spring market.

Here are the details for single family homes and condo/townhome sales in selected areas. For a more comprehensive look at any one market, give me a call at my Allie Beth Allman office or on my cell, 214-563-8540. Scroll down for the "Sales by Price Category" info. DOM is short for Days on Market. Median Price pertains to sales occurring in the period(s).

Overall Market (North Texas):
Jan 12 vs 11: Sales up 14%, med price unchanged, DOM 92, down 5%.
YTD 12 vs 11: Sales up 14%, med price unchanged, DOM 92, down 5%.

Uptown, Downtown and Turtle Creek (Condos and Townhomes):
Jan 12 vs 11: Sales up 7%, med price down 10%, DOM 131, down 8%.
YTD 12 vs 11: Sales up 7%, med price down 10%, DOM 131, down 8%.

Highland Park and University Park, Bluffview, Devonshire and Greenway Parks:
Jan 12 vs 11: Sales up 16%, med price up 25%, DOM 88, down 30%.
YTD 12 vs 11: Sales up 16%, med price up 25%, DOM 88, down 30%.

East Dallas (incl M's and Lakewood):
Jan 12 vs 11: Sales up 16%, med price up 1%, DOM 92, down 19%.
YTD 12 vs 11: Sales up 16%, med price up 1%, DOM 92, down 19%.

North Dallas (South of LBJ):
Jan 12 vs 11: Sales up 28%, med price up 12%, DOM 110, down 4%.
YTD 12 vs 11: Sales up 28%, med price up 12%, DOM 110, down 4%.

Far North Dallas (incl Addison and to Park Blvd in Plano):
Jan 12 vs 11: Sales up 7%, med price up 5%, DOM 90, up 7%.
YTD 12 vs 11: Sales up 7%, med price up 5%, DOM 90, up 7%.

Northwest Dallas:
Jan 12 vs 11: Sales up 70%, med price up 5%, DOM 96, up 2%.
YTD 12 vs 11: Sales up 70%, med price up 5%, DOM 96, up 2%.

Northeast Dallas (incl Lake Highlands):
Jan 12 vs 11: Sales up 7%, med price down 11%, DOM 68, down 38%.
YTD 12 vs 11: Sales up 7%, med price down 11%, DOM 68, down 38%.

Plano:
Jan 12 vs 11: Sales up 6%, med price up 3%, DOM 84, down 11%.
YTD 12 vs 11: Sales up 6%, med price up 3%, DOM 84, down 11%.

Frisco:
Jan 12 vs 11: Sales up 27%, med price up 10%, DOM 81, down 18%.
YTD 12 vs 11: Sales up 27%, med price up 10%, DOM 81, down 18%.

Richardson:
Jan 12 vs 11: Sales up 14%, med price up 11%, DOM 106, up 36%.
YTD 12 vs 11: Sales up 14%, med price up 11%, DOM 106, up 36%.

Southlake:
Jan 12 vs 11: Sales up 50%, med price down 2%, DOM 95, down 13%.
YTD 12 vs 11: Sales up 50%, med price down 2%, DOM 95, down 13%.

Coppell:
Jan 12 vs 11: Sales down 25%, med price down 11%, DOM 63, down 38%.
YTD 12 vs 11: Sales down 25%, med price down 11%, DOM 63, down 38%.

Allen:
Jan 12 vs 11: Sales down 2%, med price up 4%, DOM 101, up 33%.
YTD 12 vs 11: Sales down 2%, med price up 4%, DOM 101, up 33%.

Rockwall (incl Heath):
Jan 12 vs 11: Sales up 29%, med price down 17%, DOM 99, down 5%.
YTD 12 vs 11: Sales up 29%, med price down 17%, DOM 99, up 5%.

Here is a look at Single Family home sales by price category for YTD 2012 vs 2011:

$200-299K (16.4% of sales): up 24%, 8 months inventory
$300-399K (6.4% of sales): up 4%, 10 months inventory
$400-499K (2.9% of sales): up 20%, 12 months inventory
$500-599K (1.4% of sales): down 5%, 15 months inventory
$600-699K (0.8% of sales): up 3%, 18 months inventory
$700-799K (0.4% of sales): down 24%, 22 months inventory
$800-899K (0.4% of sales): up 100%, 17 months inventory
$900-999K (0.2% of sales): unchanged, 24 months inventory
$1MM and up (0.8% of sales): up 38%, 28 months inventory

Here is a look at Condos and Townhomes sales by price category for YTD 2012 vs 2011.

$200-299K (17.2% of sales): 40 units vs 21 units year ago, 10 months inventory
$300-399K (3.0% of sales): 7 units vs 14 units year ago, 28 months
$400-499K (1.3% of sales): 3 units vs 3 units year ago, 39 months
$500-599K (1.7% of sales): 4 units vs 3 units year ago, 20 months
$600-699K (0.4% of sales): 1 unit vs 1 unit year ago, 23 months
$700-799K (0.0% of sales): 0 units vs 0 units year ago, n/a months
$800-899K (0.4% of sales): 1 unit vs 1 unit year ago, 25 months
$900-999K (0.4% of sales): 1 unit vs 0 units year ago, 30 months
$1MM + (0.0% of sales): 0 units vs 0 units year ago, n/a months

Bob Edmonson
Allie Beth Allman & Assoc.
(214)563-8540

Dallas TX Homefinder Website Dallas TX Home Values Blog---Dallas TX Homes for Sale, Condos and Real Estate Highland Park Real Estate, University Park Real Estate,Uptown Dallas Real Estate, M-Streets Real Estate

Dallas Home Sales Stats for December and Year End 2011

2012-01-23T16:37:00.004-06:00

The 2011 year-end sales figures are in, and for Dallas as a whole, last year's sales numbers and median sales prices were unchanged from 2010. For the areas I track, most showed nice improvements over 2010 for existing single family home sales, with only Allen (unchanged, mirroring Dallas as a whole) and North Dallas (sales down 5%) veering off course. Median sales prices were up in Frisco, Coppell, North Dallas and in East Dallas, which showed the best improvement, +7% over 2010. The Lake Highlands area had the weakest median sales prices, down 11% from 2010.

Matching 2010's sales level was due to a nice second half surge in 2011. December's Dallas sales were up 5% over last December, following a 31% increase in November, and similar gains in the previous 4-5 months. This trend shows signs of continuing into the new year. While January is historically the slowest month of the year for sales, it has not been at all slow for buyers beginning their home searches. Nice weather AND record low interest rates are combining to create an unusually high level of buyer interest and activity. Last year at this time, the 30-year fixed conventional mortgage was 4 5/8 %, which was a record low then. Today, that same mortgage loan is priced at 3 7/8%. Just unheard of.

What I am seeing now is something new, for a change. We have a fast-declining inventory of homes out there. I was struck by the shaving of 1-2 months supply off the November numbers. In Dallas's largest home price point, the $200,000 to $299,999 range, we now have only a 5 months' supply of homes. Buyers are leading sellers to the market right now, which is understandable, given the low interest rates and 2 years of housing market woes accompanied by lower sales prices. In many cases, it is now cheaper to own than to rent, and that gulf is getting wider. Sellers have been reluctant to put their homes on the market, believing they cannot get the price they want/need. That has been mostly true. So, we have a temporary (I hope) imbalance in the healthy supply of homes available to purchase. This demand/supply situation could lend support to home prices, and it can help turn the psychology. Already in January, we are seeing more positive economic news and more positve national reports on the real estate market. It's early, but it starting to feel a little different!

Here are the details for single family homes and condo/townhome sales in selected areas. For a more comprehensive look at any one market, give me a call at my Allie Beth Allman office or on my cell, 214-563-8540. Scroll down for the "Sales by Price Category" info. DOM is short for Days on Market. Median Price pertains to sales occurring in the period(s).

Overall Market (North Texas):
Dec 11 vs 10: Sales up 5%, med price up 1%, DOM 90, down 1%.
YTD 11 vs 10: Sales unchanged, med price unchanged, DOM 88, up 12%.

Uptown, Downtown and Turtle Creek (Condos and Townhomes):
Dec 11 vs 10: Sales down 20%, med price down 26%, DOM 129, down 13%.
YTD 11 vs 10: Sales up 5%, med price down 1%, DOM 122, up 7%.

Highland Park and University Park, Bluffview, Devonshire and Greenway Parks:
Dec 11 vs 10: Sales down 6%, med price down 10%, DOM 88, down 27%.
YTD 11 vs 10: Sales up 2%, med price down 3%, DOM 98, down 19%.

East Dallas (incl M's and Lakewood):
Dec 11 vs 10: Sales down 4%, med price up 11%, DOM 94, up 1%.
YTD 11 vs 10: Sales up 1%, med price up 7%, DOM 93, up 26%.

North Dallas (South of LBJ):
Dec 11 vs 10: Sales up 2%, med price down 6%, DOM 100, down 30%.
YTD 11 vs 10: Sales down 5%, med price up 1%, DOM 109, down 16%.

Far North Dallas (incl Addison and to Park Blvd in Plano):
Dec 11 vs 10: Sales up 19%, med price down 13%, DOM 114, up 23%.
YTD 11 vs 10: Sales up 4%, med price down 1%, DOM 88, up 1%.

Northwest Dallas:
Dec 11 vs 10: Sales up 30%, med price up 9%, DOM 84, down 8%.
YTD 11 vs 10: Sales up 7%, med price down 6%, DOM 84, up 18%.

Northeast Dallas (incl Lake Highlands):
Dec 11 vs 10: Sales up 17%, med price down 9%, DOM 91, down 3%.
YTD 11 vs 10: Sales up 12%, med price down 11%, DOM 76, up 19%.

Plano:
Dec 11 vs 10: Sales up 15%, med price up 2%, DOM 95, up 6%.
YTD 11 vs 10: Sales up 4%, med price unchanged, DOM 76, up 13%.

Frisco:
Dec 11 vs 10: Sales down 6%, med price up 4%, DOM 67, down 29%.
YTD 11 vs 10: Sales up 6%, med price up 3%, DOM 75, up 6%.

Richardson:
Dec 11 vs 10: Sales down 1%, med price down 12%, DOM 91, up 23%.
YTD 11 vs 10: Sales up 7%, med price down 3%, DOM 76, up 36%.

Southlake:
Dec 11 vs 10: Sales up 3%, med price up 10%, DOM 55, down 43%.
YTD 11 vs 10: Sales up 8%, med price unchanged, DOM 84, down 12%.

Coppell:
Dec 11 vs 10: Sales up 61%, med price up 24%, DOM 91, up 15%.
YTD 11 vs 10: Sales up 7%, med price up 1%, DOM 72, up 26%.

Allen:
Dec 11 vs 10: Sales down 9%, med price up 8%, DOM 68, down 14%.
YTD 11 vs 10: Sales unchanged, med price unchanged, DOM 72, up 7%.

Rockwall (incl Heath):
Dec 11 vs 10: Sales unchanged, med price down 2%, DOM 92, down 11%.
YTD 11 vs 10: Sales up 3%, med price down 3%, DOM 99, up 16%.

Here is a look at Single Family home sales by price category for YTD 2011 vs 2010:
$200-299K (16.9% of sales): unchanged, 5 months inventory
$300-399K (7.2% of sales): up 2%, 6 months inventory
$400-499K (3.2% of sales): up 9%, 7 months inventory
$500-599K (1.6% of sales): up 11%, 9 months inventory
$600-699K (1.0% of sales): up 12%, 9 months inventory
$700-799K (0.5% of sales): down 7%, 12 months inventory
$800-899K (0.4% of sales): down 3%, 11 months inventory
$900-999K (0.3% of sales): up 21%, 12 months inventory
$1MM and up (1.0% of sales): unchanged, 14 months inventory

Here is a look at Condos and Townhomes sales by price category for YTD 2011 vs 2010.
$200-299K (13.7% of sales): 515 units vs 546 units year ago, 10 months inventory
$300-399K (6.2% of sales): 227 units vs 204 units year ago, 9 months
$400-499K (2.3% of sales): 83 units vs 73 units year ago, 16 months
$500-599K (1.1% of sales): 40 units vs 44 units year ago, 20 months
$600-699K (0.6% of sales): 21 units vs 28 units year ago, 15 months
$700-799K (0.5% of sales): 18 units vs 20 units year ago, 13 months
$800-899K (0.2% of sales): 7 units vs 12 units year ago, 31 months
$900-999K (0.2% of sales): 6 units vs 8 units year ago, 30 months
$1MM + (0.8% of sales): 30 units vs 34 units year ago, 28 months

Bob and Knoxie Edmonson
Allie Beth Allman & Assoc.
(214)563-8540

Dallas TX Homefinder Website Dallas TX Home Values Blog---Dallas TX Homes for Sale, Condos and Real Estate Highland Park Real Estate, University Park Real Estate,Uptown Dallas Real Estate, M-Streets Real Estate

Dallas Home Sales Stats for November

2011-12-25T22:24:00.002-06:00

For the sixth consecutive month, home sales in the greater Dallas area were up double digits over the year ago levels, +13% in November, the most recent data available. In November, 11 of 14 submarkets I track were ahead of last November's sales volume, and on a year-to-date basis, all but North Dallas were ahead of year ago totals. I predicted in October that this improving pattern would bring us even or better against 2010 sales figures by the end of the year, and with December yet to report, we are now even with 2010 sales volume 11 months into the year. Housing affordability is the best we've seen since 2004, with median household income double what is necessary to qualify for a median priced home under prevailing interest rates. And, those rates are beautiful--hovering under 4% for a 30-year conventional mortgage.

Median sales prices are still soft, with only North Dallas, East Dallas and Frisco showing gains YTD. This factor, combined with record low interest rates, has encouraged buyers and led now to a reduction in inventory and choices for home buyers. The total number of homes for sale is down 24% from November 2010 and at its lowest point since sometime in 2005. It's not just higher demand though; sellers unhappy with where they think they must price their homes to sell are content to wait for the market to improve before listing their homes. With demand and supply moving in opposite directions, we are actually now back to 6 months inventory, the level considered ideal for the number of homes for sale at any one time. This is described in chart form here, and if you note some discrepancies in numbers presented below and in these graphs, it is due to the geography covered: I look at "greater Dallas" and this graphical presentation looks at "North Texas".

So, when will "that market" improve? I think it is happening now. Moody's Analytics, reported in a recent Forbes article, estimates job growth in Texas averaging 2.9% per year through 2015, the highest percentage rate in the country, which translates to 1.6 million new jobs for this period. The highest growth categories are expected to be in health care services, education and mining (oil and gas). For the 12 months ending last May, 1 in 5 jobs was created in Texas and 1 in 10 in Dallas and Houston. What a good time to be thinking about buying a house!

Here are the details for single family homes and condo/townhome sales in selected areas. For a more comprehensive look at any one market, give me a call at my Allie Beth Allman office or on my cell, 214-563-8540. Scroll down for the "Sales by Price Category" info. DOM is short for Days on Market. Median Price pertains to sales occurring in the period(s).

Overall Market (North Texas):
Nov 11 vs 10: Sales up 13%, med price up 1%, DOM 87, up 2%.
YTD 11 vs 10: Sales unchanged, med price unchanged, DOM 38, up 13%.

Uptown, Downtown and Turtle Creek (Condos and Townhomes):
Nov 11 vs 10: Sales up 11%, med price up 22%, DOM 125, up 1%.
YTD 11 vs 10: Sales up 5%, med price down 1%, DOM 122, up 10%.

Highland Park and University Park, Bluffview, Devonshire and Greenway Parks:
Nov 11 vs 10: Sales down 2%, med price down 26%, DOM 93, down 27%.
YTD 11 vs 10: Sales up 4%, med price down 3%, DOM 98, down 19%.

East Dallas (incl M's and Lakewood):
Nov 11 vs 10: Sales up 15%, med price down 9%, DOM 86, up 19%.
YTD 11 vs 10: Sales up 2%, med price up 7%, DOM 93, up 27%.

North Dallas (South of LBJ):
Nov 11 vs 10: Sales down 45%, med price down 4%, DOM 108, down 21%.
YTD 11 vs 10: Sales down 5%, med price up 2%, DOM 111, down 13%.

Far North Dallas (incl Addison and to Park Blvd in Plano):
Nov 11 vs 10: Sales up 26%, med price unchanged, DOM 93, up 6%.
YTD 11 vs 10: Sales up 3%, med price unchanged, DOM 86, up 8%.

Northwest Dallas:
Nov 11 vs 10: Sales up 71%, med price down 27%, DOM 71, up 3%.
YTD 11 vs 10: Sales up 6%, med price down 8%, DOM 85, up 21%.

Northeast Dallas (incl Lake Highlands):
Nov 11 vs 10: Sales up 21%, med price down 10%, DOM 90, up 38%.
YTD 11 vs 10: Sales up 12%, med price down 11%, DOM 75, up 23%.

Plano:
Nov 11 vs 10: Sales up 3%, med price down 14%, DOM 71, down 10%.
YTD 11 vs 10: Sales up 4%, med price down 1%, DOM 74, up 14%.

Frisco:
Nov 11 vs 10: Sales up 11%, med price down 4%, DOM 80, down 11%.
YTD 11 vs 10: Sales up 7%, med price up 3%, DOM 75, up 9%.

Richardson:
Nov 11 vs 10: Sales up 59%, med price down 9%, DOM 79, up 8%.
YTD 11 vs 10: Sales up 8%, med price down 2%, DOM 74, up 37%.

Southlake:
Nov 11 vs 10: Sales up 138%, med price up 1%, DOM 94, down 20%.
YTD 11 vs 10: Sales up 9%, med price unchanged, DOM 86, down 9%.

Coppell:
Nov 11 vs 10: Sales up 3%, med price down 14%, DOM 80, up 40%.
YTD 11 vs 10: Sales up 3%, med price unchanged, DOM 70, up 27%.

Allen:
Nov 11 vs 10: Sales up 44%, med price up 4%, DOM 80, up 3%.
YTD 11 vs 10: Sales up 1%, med price down 1%, DOM 73, up 11%.

Rockwall (incl Heath):
Nov 11 vs 10: Sales up 47%, med price up 1%, DOM 101, up 29%.
YTD 11 vs 10: Sales up 3%, med price down 3%, DOM 100, up 19%.

Here is a look at Single Family home sales by price category for YTD 2011 vs 2010:
$200-299K (16.9% of sales): unchanged, 6 months inventory
$300-399K (7.1% of sales): up 1%, 7 months inventory
$400-499K (3.2% of sales): up 10%, 8 months inventory
$500-599K (1.6% of sales): up 14%, 10 months inventory
$600-699K (1.0% of sales): up 14%, 10 months inventory
$700-799K (0.5% of sales): down 6%, 12 months inventory
$800-899K (0.4% of sales): down 2%, 13 months inventory
$900-999K (0.3% of sales): up 32%, 14 months inventory
$1MM and up (1.0% of sales): up 3%, 16 months inventory

Here is a look at Condos and Townhomes sales by price category for YTD 2011 vs 2010.
$200-299K (13.7% of sales): 469 units vs 509 units year ago, 11 months inventory
$300-399K (6.1% of sales): 207 units vs 185 units year ago, 11 months
$400-499K (2.3% of sales): 80 units vs 68 units year ago, 18 months
$500-599K (1.1% of sales): 38 units vs 40 units year ago, 22 months
$600-699K (0.6% of sales): 20 units vs 26 units year ago, 20 months
$700-799K (0.5% of sales): 17 units vs 13 units year ago, 15 months
$800-899K (0.2% of sales): 7 units vs 10 units year ago, 36 months
$900-999K (0.1% of sales): 5 units vs 7 units year ago, 40 months
$1MM + (0.8% of sales): 27 units vs 31 units year ago, 30 months

Bob Edmonson
Allie Beth Allman & Assoc.(214)563-8540

Dallas TX Homefinder Website Dallas TX Home Values Blog---Dallas TX Homes for Sale, Condos and Real Estate Highland Park Real Estate, University Park Real Estate,Uptown Dallas Real Estate, M-Streets Real Estate

Dallas Home Sales Stats for October

2011-11-23T10:23:00.003-06:00

Sales of existing single-family homes were up 10% in Dallas over year-ago October sales, compared to an increase of 8% in Texas and and increase of 1.4% in the U.S. October marked the 5th consecutive month of double-digit sales gains in the greater Dallas area. Other Texas cities delivered good results in October as well: Austin +21%, Houston +10%, San Antonio +5%, Ft. Worth +4%, Odessa +18%, Tyler +12%, Corpus Christi +12%--I'll stop there. Only two significant metros, Wichita Falls and San Angelo, had sales below year ago levels. Year-to-date, we're still down 2% from last year, but with the trend moving in the right direction, we might end the year even with year ago sales numbers for our area. For the first 10 months of the year, sales in all the submarkets below are tracking ahead of last year with the exceptions of North Dallas (even) and Allen, down 2% . The Lake Highlands area has the largest YTD sales improvement, up 12% vs 2010 YTD. On the other hand, Lake Highland sales might be higher due to opportunity buyers, as the median prices of homes sold there are down 11%, the steepest decline in the area. Most of the other submarkets are plus or minus a few points, with the M Streets/Lakewood area posting the best YTD gain in median sales price, +10%.

Our North Texas Real Estate Information Service (NTREIS) continues to offer a chart-based presentation of our important real estate sales components, including historical trends. This report illustrates that our "for-sale" inventory is down, consistent with the lower number of listings. Our "months' supply of homes is also down, reducing the choices for buyers at a time when home affordability is reaching new highs. At the same time, apartment construction in DFW is up 80% vs last year, as rental demand continues to soar. New apartment towers are popping up along Stemmons Fwy near the tollway, in the Design District, in Uptown at the Katy Trail and soon on Lemmon at Central, in East Dallas on Ross, at SMU Blvd and Greenvillle, and just south of White Rock Lake. Another 5-story apartment project will soon break ground in Victory Park. And how about the Museum Tower, the luxury condo ($1mm+) project in the Arts District? This is the tallest residential construction (42 stories now topped out) in the nation right now.

So, you might wonder, where are all these folks coming from? The attached list of states representing the source of Texas' in-migration, just updated for the period 2006-2009, points to California sending the greatest number of people here, followed by...Louisiana (remember Katrina?). Nine states account for more than 50% of the state's newest residents.

One more little fun fact...which state has the largest homes (average square feet)? Not Texas; we're No. 4. It is Colorado, followed by Wyoming and Montana.

I hope this finds your Thanksgiving plans well in place for time spent with family and friends. Reflect on all we have to be thankful, and especially grateful, for.

Here are the details for single family homes and condo/townhome sales in selected areas. For a more comprehensive look at any one market, give me a call at my Allie Beth Allman office or on my cell, 214-563-8540. Scroll down for the "Sales by Price Category" info. DOM is short for Days on Market. Median Price pertains to sales occurring in the period(s).

Overall Market (North Texas):
Oct 11 vs 10: Sales up 10%, med price up 1%, DOM 87, up 2%.
YTD 11 vs 10: Sales down 2%, med price unchanged, DOM 88, up 14%.

Uptown, Downtown and Turtle Creek (Condos and Townhomes):
Oct 11 vs 10: Sales up 4%, med price down 7%, DOM 130, down 7%.
YTD 11 vs 10: Sales up 4%, med price down 2%, DOM 122, up 11%.

Highland Park and University Park, Bluffview, Devonshire and Greenway Parks:
Oct 11 vs 10: Sales up 50%, med price up 17%, DOM 89, down 41%.
YTD 11 vs 10: Sales up 5%, med price unchanged, DOM 99, down 18%.

East Dallas (incl M's and Lakewood):
Oct 11 vs 10: Sales up 27%, med price down 5%, DOM 95, up 8%.
YTD 11 vs 10: Sales up 1%, med price up 10%, DOM 93, up 27%.

North Dallas (South of LBJ):
Oct 11 vs 10: Sales down 20%, med price up 31%, DOM 109, down 10%.
YTD 11 vs 10: Sales unchanged, med price up 2%, DOM 111, down 12%.

Far North Dallas (incl Addison and to Park Blvd in Plano):
Oct 11 vs 10: Sales up 4%, med price down 4%, DOM 108, up 8%.
YTD 11 vs 10: Sales up 1%, med price unchanged, DOM 86, up 8%.

Northwest Dallas:
Oct 11 vs 10: Sales up 42%, med price down 26%, DOM 76, down 5%.
YTD 11 vs 10: Sales up 3%, med price down 6%, DOM 86, up 23%.

Northeast Dallas (incl Lake Highlands):
Oct 11 vs 10: Sales down 6%, med price down 17%, DOM 75, down 12%.
YTD 11 vs 10: Sales up 12%, med price down 11%, DOM 74, up 21%.

Plano:
Oct 11 vs 10: Sales up 29%, med price up 6%, DOM 60, down 23%.
YTD 11 vs 10: Sales up 5%, med price up 1%, DOM 74, up 16%.

Frisco:
Oct 11 vs 10: Sales up 24%, med price up 1%, DOM 68, down 9%.
YTD 11 vs 10: Sales up 7%, med price up 3%, DOM 75, up 10%.

Richardson:
Oct 11 vs 10: Sales up 10%, med price unchanged, DOM 72, up 11%.
YTD 11 vs 10: Sales up 4%, med price down 2%, DOM 73, up 38%.

Southlake:
Oct 11 vs 10: Sales up 27%, med price up 18%, DOM 76, down 38%.
YTD 11 vs 10: Sales up 4%, med price unchanged, DOM 85, down 10%.

Coppell:
Oct 11 vs 10: Sales down 3%, med price down 17%, DOM 71, unchanged.
YTD 11 vs 10: Sales up 3%, med price unchanged, DOM 69, up 25%.

Allen:
Oct 11 vs 10: Sales up 16%, med price down 10%, DOM 74, up 25%.
YTD 11 vs 10: Sales down 2%, med price down 2%, DOM 72, up 11%.

Rockwall (incl Heath):
Oct 11 vs 10: Sales up 30%, med price up 4%, DOM 108, up 16%.
YTD 11 vs 10: Sales up 1%, med price down 3%, DOM 100, up 34%.

Here is a look at Single Family home sales by price category for YTD 2011 vs 2010:

$200-299K (17.0% of sales): down 1%, 6 months inventory
$300-399K (7.2% of sales): unchanged, 8 months inventory
$400-499K (3.3% of sales): up 11%, 8 months inventory
$500-599K (1.6% of sales): up 12%, 10 months inventory
$600-699K (1.0% of sales): up 15%, 11 months inventory
$700-799K (0.6% of sales): unchanged, 12 months inventory
$800-899K (0.4% of sales): down 2%, 14 months inventory
$900-999K (0.3% of sales): up 34%, 15 months inventory
$1MM and up (1.0% of sales): up 7%, 17 months inventory

Here is a look at Condos and Townhomes sales by price category for YTD 2011 vs 2010.
$200-299K (13.7% of sales): 431 units vs 471 units year ago, 13 months inventory
$300-399K (6.1% of sales): 191 units vs 172 units year ago, 11 months
$400-499K (2.2% of sales): 70 units vs 65 units year ago, 20 months
$500-599K (1.2% of sales): 38 units vs 36 units year ago, 22 months
$600-699K (0.6% of sales): 18 units vs 23 units year ago, 21 months
$700-799K (0.5% of sales): 17 units vs 13 units year ago, 16 months
$800-899K (0.2% of sales): 7 units vs 10 units year ago, 36 months
$900-999K (0.2% of sales): 5 units vs 7 units year ago, 42 months
$1MM + (0.8% of sales): 26 units vs 30 units year ago, 32 months

Bob Edmonson
Allie Beth Allman & Assoc.
(214)563-8540

Dallas TX Homefinder Website Dallas TX Home Values Blog---Dallas TX Homes for Sale, Condos and Real Estate Highland Park Real Estate, University Park Real Estate,Uptown Dallas Real Estate, M-Streets Real Estate

Dallas Home Sales Stats for September

2011-10-20T11:17:00.003-05:00

The winning streak continued in September, with Dallas area home sales posting a 14% increase over year-ago September sales. September marked the 4th consecutive month of double-digit sales gains in the greater Dallas area. As I mentioned last month, the typical sales pattern was distorted by last year's federal tax credit, which pumped up sales in the first half of 2010 and pulled down sales in the 3rd quarter. Looking at the submarket year-to-date sales figures, the distortion has almost washed through, and we should be back to "normal" year-over-year comparisons when October's numbers are available. In addition to favorable sales activity, median sales prices are even with last year, which is a lot better than one might have thought given the constant negative news bombardment nationally.

Home sales are benefitting from the lowest mortgage interest rate environment in decades. Rates hit a modern times low in early October, touching 3 7/8% for 30-year fixed conventional loans. Rates are slightly higher as I write this, but still remarkably low. This fact, along with soft prices, has created the highest housing affordability reading since 2004. Our housing inventory is the lowest it has been since the first quarter of 2005, the result of fewer listings and miniscule new home construction. Home builders and lot developers are now beginning to stir as a result of this low inventory and high affordability. Check out the set of graphs in this link, which help to describe these trends.

With pending sales up slightly in September, I am encouraged that October sales will continue the string of positive year-over-year changes in sales. And, with record low interest rates, the ingredients are there for buyers who have the ability to buy.

Here are the details for single family homes and condo/townhome sales in selected areas. For a more comprehensive look at any one market, give me a call at my Allie Beth Allman office or on my cell, 214-563-8540. Scroll down for the "Sales by Price Category" info. DOM is short for Days on Market. Median Price pertains to sales occurring in the period(s).

Overall Market (North Texas):
Sep 11 vs 10: Sales up 14%, med price up 2%, DOM 88, up 10%.
YTD 11 vs 10: Sales down 3%, med price unchanged, DOM 89, up 16%.

Uptown, Downtown and Turtle Creek (Condos and Townhomes):
Sep 11 vs 10: Sales up 16%, med price down 25%, DOM 102, up 6%.
YTD 11 vs 10: Sales up 5%, med price down 1%, DOM 122, up 14%.

Highland Park and University Park, Bluffview, Devonshire and Greenway Parks:
Sep 11 vs 10: Sales down 10%, med price down 31%, DOM 138, up 3%.
YTD 11 vs 10: Sales up 2%, med price down 1%, DOM 100, down 15%.

East Dallas (incl M's and Lakewood):
Sep 11 vs 10: Sales up 3%, med price up 11%, DOM 82, down 15%.
YTD 11 vs 10: Sales down 1%, med price up 12%, DOM 93, up 31%.

North Dallas (South of LBJ):
Sep 11 vs 10: Sales up 10%, med price up 5%, DOM 97, down 36%.
YTD 11 vs 10: Sales up 3%, med price down 1%, DOM 111, down 13%.

Far North Dallas (incl Addison and to Park Blvd in Plano):
Sep 11 vs 10: Sales up 11%, med price down 6%, DOM 80, down 11%.
YTD 11 vs 10: Sales up 1%, med price unchanged, DOM 84, up 6%.

Northwest Dallas:
Sep 11 vs 10: Sales up 15%, med price down 27%, DOM 78 up 1%.
YTD 11 vs 10: Sales down 2%, med price down 4%, DOM 88, up 28%.

Northeast Dallas (incl Lake Highlands):
Sep 11 vs 10: Sales up 58%, med price down 21%, DOM 59, up 23%.
YTD 11 vs 10: Sales up 13%, med price down 9%, DOM 74, up 25%.

Plano:
Sep 11 vs 10: Sales up 24%, med price unchanged, DOM 76, up 23%.
YTD 11 vs 10: Sales up 3%, med price unchanged, DOM 76, up 21%.

Frisco:
Sep 11 vs 10: Sales up 34%, med price up 6%, DOM 70, up 3%.
YTD 11 vs 10: Sales up 6%, med price up 3%, DOM 76, up 13%.

Richardson:
Sep 11 vs 10: Sales up 23%, med price up 2%, DOM 77, up 35%.
YTD 11 vs 10: Sales up 4%, med price down 2%, DOM 74, up 42%.

Southlake:
Sep 11 vs 10: Sales up 29%, med price up 17%, DOM 98, up 9%.
YTD 11 vs 10: Sales up 3%, med price down 1%, DOM 86, down 7%.

Coppell:
Sep 11 vs 10: Sales down 9%, med price down 9%, DOM 94, up 40%.
YTD 11 vs 10: Sales up 3%, med price up 1%, DOM 68, up 28%.

Allen:
Sep 11 vs 10: Sales up 8%, med price down 7%, DOM 70, up 11%.
YTD 11 vs 10: Sales down 4%, med price unchanged, DOM 72, up 11%.

Rockwall (incl Heath):
Sep 11 vs 10: Sales up 5%, med price up 2%, DOM 108, up 59%.
YTD 11 vs 10: Sales down 3%, med price down 2%, DOM 100, up 19%.

Here is a look at Single Family home sales by price category for YTD 2011 vs 2010:
$200-299K (17.0% of sales): down 3%, 7 months inventory
$300-399K (7.2% of sales): unchanged, 8 months inventory
$400-499K (3.3% of sales): up 10%, 8 months inventory
$500-599K (1.6% of sales): up 14%, 10 months inventory
$600-699K (1.1% of sales): up 18%, 11 months inventory
$700-799K (0.6% of sales): down 1%, 13 months inventory
$800-899K (0.4% of sales): down 6%, 14 months inventory
$900-999K (0.3% of sales): up 35%, 15 months inventory
$1MM and up (1.0% of sales): up 5%, 18 months inventory

Here is a look at Condos and Townhomes sales by price category for YTD 2011 vs 2010.
$200-299K (13.6% of sales): 389 units vs 422 units year ago, 12 months inventory
$300-399K (6.2% of sales): 176 units vs 161 units year ago, 11 months
$400-499K (2.2% of sales): 64 units vs 61 units year ago, 20 months
$500-599K (1.2% of sales): 34 units vs 35 units year ago, 21 months
$600-699K (0.6% of sales): 17 units vs 22 units year ago, 22 months
$700-799K (0.5% of sales): 15 units vs 11 units year ago, 15 months
$800-899K (0.2% of sales): 6 units vs 7 units year ago, 38 months
$900-999K (0.2% of sales): 5 units vs 7 units year ago, 40 months
$1MM + (0.9% of sales): 26 units vs 28 units year ago, 29 months

Bob Edmonson
Allie Beth Allman & Assoc.
(214)563-8540

Dallas TX Homefinder Website Dallas TX Home Values Blog---Dallas TX Homes for Sale, Condos and Real Estate Highland Park Real Estate, University Park Real Estate,Uptown Dallas Real Estate, M-Streets Real Estate

Dallas Home Sales Stats for August

2011-09-19T17:31:00.002-05:00

The Dallas area recorded another big gain in home sales, up 27% versus year ago August. This follows the 18% gain in July vs year ago sales figures. These are great results, but we are still working against the distortion in the normal sales pattern of last year, when we were paying people to buy homes, aka the tax credit for first time home buyers. That tax credit shifted sales to the spring months, leaving last year's summer sales at more depressed levels. Year to date, we are still 4% behind last year's sales volume, with median sales prices unchanged. While the market is still pretty sluggish, the higher end homes are moving pretty well, given record low jumbo mortgage rates. The spread between jumbo loan rates (5%) and conventional loan rates (4 1/2%) is not so great, and savvy buyers of higher priced homes are taking advantage of this unique situation of lower home prices and record low mortgage rates.

Submarkets with both sales and median sales prices up for the 8 months year to date include the Uptown/Oak Lawn area, Frisco, Coppell and Allen markets. Submarkets where sales were up but median prices flat vs year ago include Park Cities, North Dallas, Far North Dallas and Plano. Submarkets where year-to-date sales are still lower than last year include Northwest Dallas, East Dallas and Rockwall.

For a more graphical look at the historical trends in our marketplace, I have included a link to a new feature in this blog. The graphs lag the raw data I report below by a month, but it is still quite descriptive of the longer term activity here.

Here are the details for single family homes and condo/townhome sales in selected areas. For a more comprehensive look at any one market, give me a call at my Allie Beth Allman office or on my cell, 214-563-8540. Scroll down for the "Sales by Price Category" info. DOM is short for Days on Market. Median Price pertains to sales occurring in the period(s).

Overall Market (North Texas):
Aug 11 vs 10: Sales up 27%, med price up 2%, DOM 86, up 10%.
YTD 11 vs 10: Sales down 4%, med price unchanged, DOM 89, up 16%.

Uptown, Downtown and Turtle Creek (Condos and Townhomes):
Aug 11 vs 10: Sales up 78%, med price up 20%, DOM 135, up 38%.
YTD 11 vs 10: Sales up 5%, med price up 2%, DOM 124, up 15%.

Highland Park and University Park, Bluffview, Devonshire and Greenway Parks:
Aug 11 vs 10: Sales up 49%, med price down 11%, DOM 91, down 28%.
YTD 11 vs 10: Sales up 4%, med price unchanged, DOM 97, down 17%.

East Dallas (incl M's and Lakewood):
Aug 11 vs 10: Sales up 45%, med price up 2%, DOM 96, up 37%.
YTD 11 vs 10: Sales down 2%, med price up 13%, DOM 94, up 36%.

North Dallas (South of LBJ):
Aug 11 vs 10: Sales up 28%, med price down 5%, DOM 95, down 30%.
YTD 11 vs 10: Sales up 3%, med price unchanged, DOM 112, down 10%.

Far North Dallas (incl Addison and to Park Blvd in Plano):
Aug 11 vs 10: Sales up 40%, med price down 5%, DOM 80, down 14%.
YTD 11 vs 10: Sales up 2%, med price unchanged, DOM 85, up 10%.

Northwest Dallas:
Aug 11 vs 10: Sales up 39%, med price up 6%, DOM 103, up 26%.
YTD 11 vs 10: Sales down 2%, med price down 2%, DOM 89, up 31%.

Northeast Dallas (incl Lake Highlands):
Aug 11 vs 10: Sales up 59%, med price down 21%, DOM 90, up 55%.
YTD 11 vs 10: Sales up 11%, med price down 7%, DOM 76, up 27%.

Plano:
Aug 11 vs 10: Sales up 46%, med price up 1%, DOM 72, up 13%.
YTD 11 vs 10: Sales up 1%, med price unchanged, DOM 67, up 21%.

Frisco:
Aug 11 vs 10: Sales up 25%, med price up 11%, DOM 70, up 4%.
YTD 11 vs 10: Sales up 3%, med price up 2%, DOM 76, up 13%.

Richardson:
Aug 11 vs 10: Sales up 6%, med price up 1%, DOM 70, up 27%.
YTD 11 vs 10: Sales up 3%, med price down 3%, DOM 73, up 43%.

Southlake:
Aug 11 vs 10: Sales up 58%, med price up 12%, DOM 85, up 37%.
YTD 11 vs 10: Sales up 1%, med price down 2%, DOM 84, down 9%.

Coppell:
Aug 11 vs 10: Sales up 10%, med price up 20%, DOM 57, up 4%.
YTD 11 vs 10: Sales up 6%, med price up 2%, DOM 66, up 27%.

Allen:
Aug 11 vs 10: Sales up 22%, med price down 12%, DOM 64, down 6%.
YTD 11 vs 10: Sales up 3%, med price up 2%, DOM 76, up 13%.

Rockwall (incl Heath):
Aug 11 vs 10: Sales down 1%, med price unchanged, DOM 98, up 24%.
YTD 11 vs 10: Sales down 3%, med price down 2%, DOM 100, up 20%.

Here is a look at Single Family home sales by price category for YTD 2011 vs 2010:

$200-299K (17.0% of sales): down 3%, 7 months inventory
$300-399K (7.2% of sales): unchanged, 8 months inventory
$400-499K (3.3% of sales): up 8%, 9 months inventory
$500-599K (1.7% of sales): up 13%, 10 months inventory
$600-699K (1.1% of sales): up 17%, 11 months inventory
$700-799K (0.6% of sales): down 4%, 14 months inventory
$800-899K (0.4% of sales): down 3%, 14 months inventory
$900-999K (0.3% of sales): up 50%, 14 months inventory
$1MM and up (1.0% of sales): up 8%, 18 months inventory

Here is a look at Condos and Townhomes sales by price category for YTD 2011 vs 2010.
$200-299K (13.9% of sales): 349 units vs 382 units year ago, 11 months inventory
$300-399K (6.3% of sales): 158 units vs 146 units year ago, 11 months
$400-499K (2.2% of sales): 56 units vs 58 units year ago, 19 months
$500-599K (1.2% of sales): 31 units vs 31 units year ago, 22 months
$600-699K (0.6% of sales): 16 units vs 19 units year ago, 19 months
$700-799K (0.5% of sales): 13 units vs 9 units year ago, 17 months
$800-899K (0.2% of sales): 6 units vs 6 units year ago, 33 months
$900-999K (0.2% of sales): 5 units vs 4 units year ago, 32 months
$1MM + (1.0% of sales): 25 units vs 18 units year ago, 25 months

Bob Edmonson
Allie Beth Allman & Assoc.
(214)563-8540

Dallas TX Homefinder Website Dallas TX Home Values Blog---Dallas TX Homes for Sale, Condos and Real Estate Highland Park Real Estate, University Park Real Estate,Uptown Dallas Real Estate, M-Streets Real Estate

Dallas Home Sales Stats for July

2011-08-09T16:50:00.003-05:00

Our blistering hot summer heat has rubbed off on home sales, with July single family home sales in Dallas up 18% over year ago. We saw the year's negative year-over-year pattern change in June, when sales that month were even with last year. In July we pulled ahead of last year sales in all but two of the submarkets I track. As I mentioned last month, we can see now the very strong influence the home-buyer tax credit had in the spring of 2010 in pulling sales forward, distorting the usual sales patterns. That tax credit required closings to take place in late spring, cannibalizing July 2010 business. This July, unit sales totalled 6,179 homes vs 5,157 homes in July, 2010. Last year's July number was significantly lower than July, 2009, which saw 7,198 homes sold. And, July 2009 was not the best of economic times. So, while this July's sales were up 18%, it was not a record-setter. Still, we'll take it!

Home sales were up in 12 of the 14 submarkets (below), with only North Dallas and Southlake reporting sales below year ago. Those gains brought us closer to 2010 sales levels, year over year. The Lake Highlands area, Coppell, Richardson and Park Cities were ahead of last year's 7 months total sales, while the other markets were just modestly below that level. August will probably be another good month, as "pending" sales in July were 13% ahead of last year.

Low mortgage rates continue to support our market, and they dipped to a 9-month low on August 8th, coinciding with the first trading day after the credit downgrade. Money racing out of stocks found its way into treasury bonds, driving the yields down. With this credit downgrade being new territory for our country, and with the volatility in the stock and bond markets, there might be some unusual swings in mortgage interest rates. No one knows, of course. With a weak economy projected to continue for some time, demand for goods and services will continue to be soft, reducing any upward (inflationary) pressure on rates. If the international creditors remain faithful to buying our debt, we might continue to skate along with these incredible mortgage rates. What a nice time to buy or refinance!

Here are the details for single family homes and condo/townhome sales in selected areas. For a more comprehensive look at any one market, give me a call at my Allie Beth Allman office or on my cell, 214-563-8540. Scroll down for the "Sales by Price Category" info. DOM is short for Days on Market. Median Price pertains to sales occurring in the period(s).

Overall Market (North Texas):
Jul 11 vs 10: Sales up 18%, med price down 1%, DOM 84, up 9%.
YTD 11 vs 10: Sales down 9%, med price unchanged, DOM 89, up 18%.

Uptown, Downtown and Turtle Creek (Condos and Townhomes):
Jul 11 vs 10: Sales up 58%, med price down 34%, DOM 66, down 50%.
YTD 11 vs 10: Sales down 2%, med price down 1%, DOM 121, up 10%.

Highland Park and University Park, Bluffview, Devonshire and Greenway Parks:
Jul 11 vs 10: Sales up 6%, med price down 11%, DOM 87, down 33%.
YTD 11 vs 10: Sales up 1%, med price up 2%, DOM 97, down 16%.

East Dallas (incl M's and Lakewood):
Jul 11 vs 10: Sales up 29%, med price up 3%, DOM 82, up 2%.
YTD 11 vs 10: Sales down 6%, med price up 13%, DOM 94, up 36%.

North Dallas (South of LBJ):
Jul 11 vs 10: Sales down 2%, med price down 26%, DOM 127, down 12%.
YTD 11 vs 10: Sales unchanged, med price unchanged, DOM 115, down 6%.

Far North Dallas (incl Addison and to Park Blvd in Plano):
Jul 11 vs 10: Sales up 36%, med price up 8%, DOM 71, down 3%.
YTD 11 vs 10: Sales down 2%, med price up 1%, DOM 85, up 13%.

Northwest Dallas:
Jul 11 vs 10: Sales down up 71%, med price up 4%, DOM 98, up 48%.
YTD 11 vs 10: Sales down 6%, med price down 2%, DOM 87, up 30%.

Northeast Dallas (incl Lake Highlands):
Jul 11 vs 10: Sales up 68%, med price down 16%, DOM 71, up 37%.
YTD 11 vs 10: Sales up 7%, med price down 6%, DOM 73, up 22%.

Plano:
Jul 11 vs 10: Sales up 5%, med price up 1%, DOM 55, down 13%.
YTD 11 vs 10: Sales down 4%, med price unchanged, DOM 77, up 22%.

Frisco:
Jul 11 vs 10: Sales up 32%, med price down 4%, DOM 74, up 1%.
YTD 11 vs 10: Sales down 1%, med price up 1%, DOM 77, up 15%.

Richardson:
Jun 11 vs 10: Sales up 10%, med price down 2%, DOM 73, up 24%.
YTD 11 vs 10: Sales down 1%, med price down 3%, DOM 75, up 47%.

Southlake:
Jul 11 vs 10: Sales down 20%, med price down 3%, DOM 64, down 20%.
YTD 11 vs 10: Sales down 6%, med price down 3%, DOM 84, down 13%.

Coppell:
Jul 11 vs 10: Sales up 59%, med price down 2%, DOM 53, up 8%.
YTD 11 vs 10: Sales up 5%, med price down 1%, DOM 66, up 29%.

Allen:
Jul 11 vs 10: Sales up 27%, med price down 1%, DOM 66, unchanged.
YTD 11 vs 10: Sales down 7%, med price up 2%, DOM 73, up 12%.

Rockwall (incl Heath):
Jul 11 vs 10: Sales up 18%, med price up 3%, DOM 102, up 16%.
YTD 11 vs 10: Sales down 4%, med price down 1%, DOM 101, up 20%.

Here is a look at Single Family home sales by price category for YTD 2011 vs 2010:
$200-299K (17.0% of sales): down 16%, 8 months inventory
$300-399K (7.3% of sales): down 3%, 9 months inventory
$400-499K (3.2% of sales): up 3%, 10 months inventory
$500-599K (1.4% of sales): up 6%, 12 months inventory
$600-699K (1.1% of sales): up 12%, 13 months inventory
$700-799K (0.5% of sales): down 11%, 16 months inventory
$800-899K (0.4% of sales): down 1%, 15 months inventory
$900-999K (0.3% of sales): up 55%, 16 months inventory
$1MM and up (1.1% of sales): up 3%, 19 months inventory

Here is a look at Condos and Townhomes sales by price category for YTD 2011 vs 2010.
$200-299K (13.4% of sales): 285 units vs 343 units year ago, 13 months inventory
$300-399K (6.5% of sales): 139 units vs 128 units year ago, 12 months
$400-499K (2.2% of sales): 46 units vs 51 units year ago, 20 months
$500-599K (1.2% of sales): 25 units vs 30 units year ago, 26 months
$600-699K (0.7% of sales): 14 units vs 16 units year ago, 21 months
$700-799K (0.6% of sales): 13 units vs 8 units year ago, 16 months
$800-899K (0.3% of sales): 6 units vs 4 units year ago, 28 months
$900-999K (0.2% of sales): 5 units vs 4 units year ago, 25 months
$1MM + (1.0% of sales): 21 units vs 17 units year ago, 26 months
Bob and Knoxie Edmonson

---Bob Edmonson
Allie Beth Allman & Assoc.
(214)563-8540

Dallas TX Homefinder Website Dallas TX Home Values Blog---Dallas TX Homes for Sale, Condos and Real Estate Highland Park Real Estate, University Park Real Estate,Uptown Dallas Real Estate, M-Streets Real Estate

Dallas Home Sales Stats for June

2011-07-30T18:47:00.002-05:00

After two consecutive months (April and May) with home sales running 15% below year ago levels, June came in even with last year, putting at least a temporary halt to the sales slowdown across the Metroplex. You recall that the 2010 housing credit offered by the federal government skewed the sales pattern last year, boosting sales in late spring. It was extended into the summer at the last minute, but not until most home buyers had already moved to take advantage of the credit and close their home purchases in April and May. Some of those spring sales took a bite out of June 2010's expected sales, helping to create this flat June over June performance.

At the current sales pace, we still have 8 to 20 months inventory of single family homes, depending on the price point. Longer for condominiums. But in June, we saw a 1-month trimming of that inventory in almost every price category, a very good sign. While the month's inventory is beginning to drop a bit, the days on market is still increasing in most areas. Only Park Cities, North Dallas and Frisco showed declines in the average number of days to sell in June. Year to date, Park Cities, North Dallas and Southlake are taking a little less time to sell.

Median sales prices for Dallas (overall) were up 1% in June and unchanged year to date from last year at this time. The "average" sales price is up 4% year to date over 2010. Reports in the papers this week that Dallas has seen a 4.7% decline in home prices this year, based on Case-Shiller index data, continues to puzzle me. Texas is a non-reporting state, meaning that sales prices are not recorded for public record. I wonder where they come up with these numbers. Of the 14 sub areas I track, East Dallas' median sales prices are up 16% this year; all the other markets are in single digits up/down, or unchanged (Far North Dallas and Coppell).

Here are the details for single family homes and condo/townhome sales in selected areas. For a more comprehensive look at any one market, give me a call at my Allie Beth Allman office or on my cell, 214-563-8540. Scroll down for the "Sales by Price Category" info. DOM is short for Days on Market. Median Price pertains to sales occurring in the period(s).

Overall Market (North Texas):
Jun 11 vs 10: Sales unchanged, med price up 1%, DOM 85, up 16%.
YTD 11 vs 10: Sales down 12%, med price unchanged, DOM 90, up 19%.

Uptown, Downtown and Turtle Creek (Condos and Townhomes):
Jun 11 vs 10: Sales down 35%, med price up 17%, DOM 125, up 19%.
YTD 11 vs 10: Sales down 11%, med price up 4%, DOM 124, up 20%.

Highland Park and University Park, Bluffview, Devonshire and Greenway Parks:
Jun 11 vs 10: Sales down 14%, med price up 11%, DOM 110, down 9%.
YTD 11 vs 10: Sales up 1%, med price up 2%, DOM 100, down 12%.

East Dallas (incl M's and Lakewood):
Jun 11 vs 10: Sales down 2%, med price up 19%, DOM 97, up 47%.
YTD 11 vs 10: Sales down 11%, med price up 16%, DOM 97, up 45%.

North Dallas (South of LBJ):
Jun 11 vs 10: Sales down 16%, med price up 9%, DOM 90, down 22%.
YTD 11 vs 10: Sales up 1%, med price up 5%, DOM 114, down 3%.

Far North Dallas (incl Addison and to Park Blvd in Plano):
Jun 11 vs 10: Sales up 42%, med price down 9%, DOM 71, up 3%.
YTD 11 vs 10: Sales down 7%, med price unchanged, DOM 86, up 13%.

Northwest Dallas:
Jun 11 vs 10: Sales down 27%, med price up 3%, DOM 74, up 9%.
YTD 11 vs 10: Sales down 17%, med price down 4%, DOM 84, up 25%.

Northeast Dallas (incl Lake Highlands):
Jun 11 vs 10: Sales up 17%, med price down 7%, DOM 74, up 28%.
YTD 11 vs 10: Sales down 1%, med price down 5%, DOM 74, up 21%.

Plano:
Jun 11 vs 10: Sales unchanged, med price down 2%, DOM 65, unchanged.
YTD 11 vs 10: Sales down 6%, med price up 2%, DOM 81, up 29%.

Frisco:
Jun 11 vs 10: Sales up 12%, med price down 10%, DOM 61, down 12%.
YTD 11 vs 10: Sales down 5%, med price up 1%, DOM 78, up 18%.

Richardson:
Jun 11 vs 10: Sales up 10%, med price down 2%, DOM 73, up 24%.
YTD 11 vs 10: Sales down 1%, med price down 3%, DOM 75, up 47%.

Southlake:
Jun 11 vs 10: Sales up 36%, med price down 15%, DOM 84, up 1%.
YTD 11 vs 10: Sales down 12%, med price up 3%, DOM 92, down 15%.

Coppell:
Jun 11 vs 10: Sales up 59%, med price up 9%, DOM 57, up 24%.
YTD 11 vs 10: Sales down 1%, med price unchanged, DOM 70, up 37%.

Allen:
Jun 11 vs 10: Sales up 7%, med price up 3%, DOM 73, up 28%.
YTD 11 vs 10: Sales down 12%, med price up 3%, DOM 75, up 15%.

Rockwall (incl Heath):
Jun 11 vs 10: Sales down 12%, med price up 1%, DOM 98, up 13%.
YTD 11 vs 10: Sales down 8%, med price up 1%, DOM 101, up 22%.

Here is a look at Single Family home sales by price category for YTD 2011 vs 2010:

$200-299K (16.9% of sales): down 10%, 8 months inventory
$300-399K (7.2% of sales): down 4%, 10 months inventory
$400-499K (3.2% of sales): up 3%, 11 months inventory
$500-599K (1.6% of sales): up 7%, 13 months inventory
$600-699K (1.1% of sales): up 12%, 14 months inventory
$700-799K (0.6% of sales): down 6%, 16 months inventory
$800-899K (0.4% of sales): down 6%, 16 months inventory
$900-999K (0.3% of sales): up 64%, 16 months inventory
$1MM and up (1.1% of sales): up 7%, 20 months inventory

Here is a look at Condos and Townhomes sales by price category for YTD 2011 vs 2010.

$200-299K (13.5% of sales): 237 units vs 304 units year ago, 14 months inventory
$300-399K (6.7% of sales): 118 units vs 112 units year ago, 12 months
$400-499K (2.2% of sales): 38 units vs 46 units year ago, 22 months
$500-599K (1.4% of sales): 24 units vs 26 units year ago, 22 months
$600-699K (0.8% of sales): 17 units vs 12 units year ago, 18 months
$700-799K (0.6% of sales): 11 units vs 5 units year ago, 13 months
$800-899K (0.3% of sales): 6 units vs 4 units year ago, 25 months
$900-999K (0.3% of sales): 3 units vs 2 units year ago, 38 months
$1MM + (1.1% of sales): 19 units vs 16 units year ago, 25 months

Bob Edmonson
Allie Beth Allman & Assoc.
(214)563-8540

Dallas TX Homefinder Website Dallas TX Home Values Blog---Dallas TX Homes for Sale, Condos and Real Estate Highland Park Real Estate, University Park Real Estate,Uptown Dallas Real Estate, M-Streets Real Estate

Dallas Home Sales Stats for May

2011-06-25T15:36:00.000-05:00

May came in as a redux of April, with sales lagging in the lower price ranges and doing pretty well in the upper price ranges. Sales in the $100,000 to $190,000 range were down 22% to 35% from last year, while almost all price points over $400,000 saw sales ahead of last year. This is a pattern we will continue to see, until something breaks in favor of those lower-priced home buyers, many being first-time home buyers, looking for a way out of their rental property or apartment. That something, by the way, is called "jobs".

We know the answer is not with interest rates. Mortgage rates hit a new low for 2011 this week. Conventional financing at 4 1/4% to 4 3/8% is simply beautiful, especially half way through the year, as the "experts" saw ever-increasing rates coming as a result of the end of QE2 in June. That 4 3/8% rate happens to make figuring how large the monthly payment is for any size loan very easy. The quirky math at this interest rate lets you calculate $5 for every $1000 borrowed. So, a $300,000 mortgage, for example, will run you $1500 per month in principle and interest, less than rent in a lot of places (taxes not included!). It is truly a great time to buy real estate.

This is one of the few silver linings of a struggling economy. Without a doubt, we would like to see strong job creation and a GDP growing at 5-7% a year. We've been there before. That kind of growth would produce higher interest rates, oh, like 6-7%, but all the plusses to a bustling economy would far outweigh the disappearance of these marvelous interest rates we have today.

Looking at the details (below), we actually have two submarkets reporting in with both sales and median prices ahead of last year through May, Park Cities and North Dallas. With a little luck, primarily new job creation, continued low rates, and maybe some policy changes in Washington, we can expand this list of two to many!

Here are the details for single family homes and condo/townhome sales in selected areas. For a more comprehensive look at any one market, give me a call at my Allie Beth Allman office or on my cell, 214-563-8540. Scroll down for the "Sales by Price Category" info. DOM is short for Days on Market. Median Price pertains to sales occurring in the period(s).

Overall Market (North Texas):
May 11 vs 10: Sales down 15%, med price unchanged, DOM 86, up 19%.
YTD 11 vs 10: Sales down 15%, med price unchanged, DOM 92, up 20%.

Uptown, Downtown and Turtle Creek (Condos and Townhomes):
May 11 vs 10: Sales down 1%, med price up 20%, DOM 125, up 11%.
YTD 11 vs 10: Sales down 3%, med price unchanged, DOM 125, up 21%.

Highland Park and University Park, Bluffview, Devonshire and Greenway Parks:
May 11 vs 10: Sales up 17%, med price up 1%, DOM 71, down 40%.
YTD 11 vs 10: Sales up 8%, med price up 2%, DOM 95, down 14%.

East Dallas (incl M's and Lakewood):
May 11 vs 10: Sales down 8%, med price up 17%, DOM 86, up 39%.
YTD 11 vs 10: Sales down 12%, med price up 16%, DOM 97, up 45%.

North Dallas (South of LBJ):
May 11 vs 10: Sales up 30%, med price unchanged, DOM 92, down 10%.
YTD 11 vs 10: Sales up 8%, med price up 7%, DOM 119, unchanged.

Far North Dallas (incl Addison and to Park Blvd in Plano):
May 11 vs 10: Sales down 31%, med price up 4%, DOM 88, up 35%.
YTD 11 vs 10: Sales down 17%, med price up 3%, DOM 93, up 21%.

Northwest Dallas:
May 11 vs 10: Sales down 5%, med price down 12%, DOM 63, up 21%.
YTD 11 vs 10: Sales down 14%, med price down 5%, DOM 85, up 29%.

Northeast Dallas (incl Lake Highlands):
May 11 vs 10: Sales up 13%, med price down 8%, DOM 69, up 11%.
YTD 11 vs 10: Sales down 3%, med price down 5%, DOM 74, up 21%.

Plano:
May 11 vs 10: Sales up 7%, med price up 8%, DOM 79, up 39%.
YTD 11 vs 10: Sales down 6%, med price up 4%, DOM 85, up 37%.

Frisco:
May 11 vs 10: Sales down 23%, med price up 2%, DOM 74, up 35%.
YTD 11 vs 10: Sales down 9%, med price up 3%, DOM 83, up 26%.

Richardson:
May 11 vs 10: Sales up 14%, med price up 4%, DOM 67, up 34%.
YTD 11 vs 10: Sales down 2%, med price down 4%, DOM 75, up 56%.

Southlake:
May 11 vs 10: Sales down 17%, med price up 4%, DOM 73, down 34%.
YTD 11 vs 10: Sales down 12%, med price up 3%, DOM 92, down 15%.

Coppell:
May 11 vs 10: Sales down 20%, med price up 4%, DOM 56, up 14%.
YTD 11 vs 10: Sales down 16%, med price down 3%, DOM 77, up 45%.

Allen:
May 11 vs 10: Sales down 23%, med price up 3%, DOM 49, down 16%.
YTD 11 vs 10: Sales down 16%, med price up 2%, DOM 75, up 12%.

Rockwall (incl Heath):
May 11 vs 10: Sales down 18%, med price up 2%, DOM 100, up 52%.
YTD 11 vs 10: Sales down 7%, med price down 2%, DOM 101, up 23%.

Here is a look at Single Family home sales by price category for YTD 2011 vs 2010:

$200-299K (16.4% of sales): down 15%, 9 months inventory

$300-399K (7.0% of sales): down 8%, 11 months inventory

$400-499K (3.1% of sales): unchanged, 12 months inventory

$500-599K (1.6% of sales): up 15%, 14 months inventory

$600-699K (1.0% of sales): up 14%, 15 months inventory

$700-799K (0.6% of sales): up 10%, 17 months inventory

$800-899K (0.4% of sales): down 7%, 19 months inventory

$900-999K (0.3% of sales): up 65%, 19 months inventory

$1MM and up (1.1% of sales): up 15%, 21 months inventory

Here is a look at Condos and Townhomes sales by price category for YTD 2011 vs 2010.

$200-299K (13.1% of sales): 185 units vs 234 units year ago, 15 months inventory

$300-399K (7.0% of sales): 99 units vs 87 units year ago, 13 months

$400-499K (2.3% of sales): 32 units vs 39 units year ago, 22 months

$500-599K (1.3% of sales): 19 units vs 22 units year ago, 22 months

$600-699K (1.0% of sales): 14 units vs 8 units year ago, 16 months

$700-799K (0.8% of sales): 11 units vs 4 units year ago, 11 months

$800-899K (0.4% of sales): 6 units vs 3 units year ago, 19 months

$900-999K (0.1% of sales): 2 units vs 2 units year ago, 42 months

$1MM + (1.1% of sales): 15 units vs 15 units year ago, 27 months

Bob and Knoxie Edmonson

Bob Edmonson
Allie Beth Allman & Assoc
(214)563-8540

Dallas TX Homefinder Website Dallas TX Home Values Blog --- Dallas TX Homes for Sale, Condos and Real Estate Highland Park Real Estate, University Park Real Estate, Uptown Dallas Real Estate, M-Streets Real Estate

Dallas Home Sales Stats for April

2011-05-30T15:47:00.001-05:00

April home sales in Dallas were down 20% from year ago levels, with almost the entire "loss" concentrated in the under $250,000 price segment. Fully 78% of Dallas home sales are at or below $250,000, and this segment has been hit hard by the current economic conditions, with sales off 20-35%. The other 22% of the market, from $250,000 on up, has done reasonably well, with gains in some price points this hear as high as 29%. Million-dollar plus home sales are up 15% over year ago levels.

The anecdotal evidence supports this--first time home buyers of typically lower-priced homes have been almost shut out of the home buying arena, thanks to tougher financial requirements. No one argues that we didn't need a return to sanity in the home mortgage lending business, but the rigid rules make coming up with the necessary 20% down payment tough for young buyers ready to settle in their first homes. Required higher credit ratings, with FICO scores for the best loan treatment at 720 and above, create a barrier to many potential buyers. A lot of buyers, perhaps hourly-wage earners or new graduates beginning their corporate lives are having a tough time qualifying to buy a house. This will keep the housing industry on its heels until the economy improves (incomes rise) or lending loosens to where it becomes more tailored to the specific individual.

So, where are these potential buyers going? Into apartments! The rental market is on fire, with buildings at 97% occupany or better. Rental rates are moving up rapidly. The good news for some home sellers is that they are finding a lot of good candidates to rent their vacant homes as well, taking the sting out of waiting for the market to improve. Maybe they will discover the joys of building a real estate portfolio :).

What about median sales prices? Case-Shiller, which tracks prices nationally, shows Dallas as the only metro area to see uninterrupted gains every month since December. Our own MLS data, shows Dallas as a whole up 1% through April. Most of the submarkets I track in this report are doing well, with gains in the median price of homes sold in the plus single digits category but as high as 10% YTD in North Dallas. A few markets are down 2-3%, nothing to be too worried about.

Here are the details for single family homes and condo/townhome sales in selected areas. For a more comprehensive look at any one market, give me a call at my Allie Beth Allman office or on my cell, 214-563-8540. Scroll down for the "Sales by Price Category" info. DOM is short for Days on Market. Median Price pertains to sales occurring in the period(s).

Overall Market (North Texas):

Apr 11 vs 10: Sales down 20%, med price down 1%, DOM 89, up 20%.
YTD 11 vs 10: Sales down 15%, med price up 1%, DOM 94, up 21%.

Uptown, Downtown and Turtle Creek (Condos and Townhomes):
Apr 11 vs 10: Sales down 13%, med price up 25%, DOM 98, up 3%.
YTD 11 vs 10: Sales down 3%, med price up 2%, DOM 124, up 25%.

Highland Park and University Park, Bluffview, Devonshire and Greenway Parks:
Apr 11 vs 10: Sales up 17%, med price up 13%, DOM 92, up 8%.
YTD 11 vs 10: Sales up 7%, med price up 5%, DOM 103, down 4%.

East Dallas (incl M's and Lakewood):
Apr 11 vs 10: Sales down 12%, med price up 14%, DOM 85, up 13%.
YTD 11 vs 10: Sales down 13%, med price up 9%, DOM 99, up 43%.

North Dallas (South of LBJ):
Apr 11 vs 10: Sales up 9%, med price up 17%, DOM 113, down 14%.
YTD 11 vs 10: Sales up 4%, med price up 10%, DOM 130, up 5%.

Far North Dallas (incl Addison and to Park Blvd in Plano):
Apr 11 vs 10: Sales down 38%, med price up 7%, DOM 99, up 38%.
YTD 11 vs 10: Sales down 11%, med price up 3%, DOM 94, up 15%.

Northwest Dallas:
Apr 11 vs 10: Sales down 2%, med price down 14%, DOM 89, up 75%.
YTD 11 vs 10: Sales down 16%, med price down 2%, DOM 96, up 33%.

Northeast Dallas (incl Lake Highlands):
Apr 11 vs 10: Sales down 11%, med price down 7%, DOM 66, up 57%.
YTD 11 vs 10: Sales down 7%, med price down 5%, DOM 74, up 21%.

Plano:
Apr 11 vs 10: Sales down 20%, med price up 7%, DOM 80, up 51%.
YTD 11 vs 10: Sales down 10%, med price up 1%, DOM 87, up 36%.

Frisco:
Apr 11 vs 10: Sales down 12%, med price up 14%, DOM 78, up 30%.
YTD 11 vs 10: Sales down 3%, med price up 5%, DOM 86, up 23%.

Richardson:
Apr 11 vs 10: Sales down 2%, med price down 6%, DOM 81, up 93%.
YTD 11 vs 10: Sales down 8%, med price down 6%, DOM 80, up 67%.

Southlake:
Apr 11 vs 10: Sales up 5%, med price up 13%, DOM 109, up 70%.
YTD 11 vs 10: Sales down 7%, med price down 3%, DOM 100, down 7%.

Coppell:
Apr 11 vs 10: Sales down 17%, med prie up 6%, DOM 68, down 1%.
YTD 11 vs 10: Sales down 12%, med price up 4%, DOM 83, up 19%.

Allen:
Apr 11 vs 10: Sales down 17%, med price up 6%, DOM 68, down 1%.
YTD 11 vs 10: Sales down 12%, med price up 4%, DOM 83, up 19%.

Rockwall (incl Heath):
Apr 11 vs 10: Sales down 9%, med price down 7%, DOM 88, up 2%.
YTD 11 vs 10: Sales down 3%, med price down 2%, DOM 102, up 16%.

Here is a look at Single Family home sales by price category for YTD 2011 vs 2010:

$200-299K (16.2% of sales): down 15%, 9 months inventory

$300-399K (7.0% of sales): down 5%, 12 months inventory

$400-499K (3.0% of sales): down 2%, 13 months inventory

$500-599K (1.7% of sales): up 29%, 14 months inventory

$600-699K (1.0% of sales): up 21%, 17 months inventory

$700-799K (0.6% of sales): up 10%, 19 months inventory

$800-899K (0.4% of sales): down 7%, 21 months inventory

$900-999K (0.3% of sales): up 71%, 18 months inventory

$1MM and up (1.1% of sales): up 15%, 23 months inventory

Here is a look at Condos and Townhomes sales by price category for YTD 2011 vs 2010.

$200-299K (11.6% of sales): 126 units vs 160 units year ago, 18 months inventory

$300-399K (6.5% of sales): 71 units vs 62 units year ago, 15 months

$400-499K (2.5% of sales): 27 units vs 36 units year ago, 21 months

$500-599K (1.5% of sales): 16 units vs 19 units year ago, 21 months

$600-699K (0.7% of sales): 8 units vs 6 units year ago, 20 months

$700-799K (0.5% of sales): 5 units vs 3 units year ago, 20 months

$800-899K (0.5% of sales): 5 units vs 3 units year ago, 18 months

$900-999K (0.2% of sales): 2 units vs 2 units year ago, 36 months

$1MM + (1.1% of sales): 12 units vs 11 units year ago, 25 months

Bob Edmonson
Allie Beth Allman & Associates
(214)563-8540

Dallas TX Homefinder Website Dallas TX Home Values Blog --- Dallas TX Homes for Sale, Condos and Real Estate Highland Park Real Estate, University Park Real Estate, Uptown Dallas Real Estate, M-Streets Real Estate

Dallas Home Sales Stats for March

2011-05-10T11:01:00.000-05:00

Below are the details for single family homes and condo/townhome sales in selected areas. For a more comprehensive look at any one market, give me a call at my Allie Beth Allman office or on my cell, 214-563-8540. DOM is short for Days on Market. Median Price pertains to sales occurring in the period(s).

Overall Market (North Texas):
Mar 11 vs 10: Sales down 15%, med price down 2%, DOM 96, up 22%.
YTD 11 vs 10: Sales down 13%, med price up 2%, DOM 96, up 20%.

Uptown, Downtown and Turtle Creek (Condos and Townhomes):
Mar 11 vs 10: Sales down 14%, med price down 15%, DOM 116, up 12%.
YTD 11 vs 10: Sales up 3%, med price down 9%, DOM 137, up 36%.

Highland Park and University Park, Bluffview, Devonshire and Greenway Parks:
Mar 11 vs 10: Sales down 3%, med price unchanged, DOM 104, down 6%.
YTD 11 vs 10: Sales up 4%, med price down 2%, DOM 109, down 8%.

East Dallas (incl M's and Lakewood):
Mar 11 vs 10: Sales down 10%, med price up 2%, DOM 98, up 36%.
YTD 11 vs 10: Sales down 14%, med price up 6%, DOM 104, up 42%.

North Dallas (South of LBJ):
Mar 11 vs 10: Sales up 28%, med price up 29%, DOM 128, up 16%.
YTD 11 vs 10: Sales up 3%, med price up 3%, DOM 144, up 21%.

Far North Dallas (incl Addison and to Park Blvd in Plano):
Mar 11 vs 10: Sales up 14%, med price up 9%, DOM 104, up 39%.
YTD 11 vs 10: Sales up 10%, med price up 1%, DOM 94, up 6%.

Northwest Dallas:
Mar 11 vs 10: Sales down 37%, med price up 23%, DOM 116, up 51%.
YTD 11 vs 10: Sales down 23%, med price up 7%, DOM 104, up 27%.

Northeast Dallas (incl Lake Highlands):
Mar 11 vs 10: Sales up 9%, med price down 6%, DOM 62, down 7%.
YTD 11 vs 10: Sales down 4%, med price up 3%, DOM 79, up 11%.

Plano:
Mar 11 vs 10: Sales down 1%, med price down 1%, DOM 89, up 31%.
YTD 11 vs 10: Sales down 3%, med price down 2%, DOM 90, up 29%.

Frisco:
Mar 11 vs 10: Sales up 18%, med price up 2%, DOM 80, up 4%.
YTD 11 vs 10: Sales unchanged, med price up 2%, DOM 90, up 20%.

Richardson:
Mar 11 vs 10: Sales down 17%, med price up 4%, DOM 79, up 39%.
YTD 11 vs 10: Sales down 11%, med price down 5%, DOM 80, up 57%.

Southlake:
Mar 11 vs 10: Sales up 31%, med price up 5%, DOM 81, down 35%.
YTD 11 vs 10: Sales down 8%, med price down 2%, DOM 93, down 28%.

Coppell:
Mar 11 vs 10: Sales down 7%, med price up 9%, DOM 81, up 19%.
YTD 11 vs 10: Sales up 12%, med price down 1%, DOM 89, up 46%.

Allen:
Mar 11 vs 10: Sales down 12%, med price up 9%, DOM 91, up 32%.
YTD 11 vs 10: Sales down 9%, med price up 3%, DOM 91, up 28%.

Rockwall (incl Heath):
Mar 11 vs 10: Sales down 15%, med price up 6%, DOM 94, up 7%.
YTD 11 vs 10: Sales down 4%, med price up 2%, DOM 107, up 19%.

Bob Edmonson
Allie Beth Allman & Assoc.
(214)563-8540

Dallas TX Homefinder Website Dallas TX Home Values Blog --- Dallas TX Homes for Sale, Condos and Real Estate Highland Park Real Estate, University Park Real Estate, Uptown Dallas Real Estate, M-Streets Real Estate

Dallas Home Sales Stats for February

2011-03-30T17:12:00.005-05:00

Remember February? Seems like a long time ago! March data will be out soon--sorry for the delay getting this report to you. February sales data is the latest we have at this date, and home sales for this month were down 17% from year ago levels, resulting in a 2-months year-to-date figure of home sales down 13%. The median price of those homes sold was up 4% in February and now up 5% for the year. The homes sold thusfar in 2011 are higher-priced than those that sold this time last year. And this is a good sign.

I like to look at the breakdown of sales and prices by area each month, as the "overall Dallas" number never tells the whole story. As is the case every month, there are parts of town that are not selling all that well right now, and some areas that are exceeding last year's sales numbers. It's always interesting but not easy to pin down the reasons for such wide disparities. What is important to know is that fully 69% of all Dallas area sales are below $200,000. Sales of homes in this category were down in the 20%+ double digits range, which negatively weights the overall sales picture for the metro area. Homes sellling for more than $200,000, the other 31% of the market, showed sales increases in the $300's (+8%), in the $500's (+17%), in the $600's (+18%), in the $700's (+29%), in the $900's (+54%) and in the million plus category (+2%). The condo/townhome market sales by price category over $200,000 is even with last year at this time.

Looking at the different areas around town illustrates how real estate is truly "local". Markets off to a fast start this year include Coppell (+35%), Uptown (+26%), Frisco (+16%) and Park Cities (+10%). East Dallas and North Dallas are off to very slow starts, compared to the same time a year ago. Wish I knew why! We'll see what the pattern looks like when the March data arrives. It does reinforce the point that broad-brushing an entire city with a single headline, whether it be Dallas or any other place, is almost always misleading.

Here are the details for single family homes and condo/townhome sales in selected areas. For a more comprehensive look at any one market, give me a call at my Allie Beth Allman office or on my cell, 214-563-8540. Scroll down for the "Sales by Price Category" info. DOM is short for Days on Market. Median Price pertains to sales occurring in the period(s).

Overall Market (North Texas):

Feb 11 vs 10: Sales down 17%, med price up 4%, DOM 96, up 22%.

YTD 11 vs 10: Sales down 13%, med price up 5%, DOM 97, up 20%.

Uptown, Downtown and Turtle Creek (Condos and Townhomes):

Feb 11 vs 10: Sales up 20%, med price up 21%, DOM 168, up 70%.

YTD 11 vs 10: Sales up 26%, med price down 8%, DOM 153, up 55%.

Highland Park and University Park, Bluffview, Devonshire and Greenway Parks:

Feb 11 vs 10: Sales up 19%, med price down 26%, DOM 104, down 10%.

YTD 11 vs 10: Sales up 10%, med price down 3%, DOM 115, down 10%.

East Dallas (incl M's and Lakewood):

Feb 11 vs 10: Sales down 26%, med price down 15%, DOM 99, up 22%.

YTD 11 vs 10: Sales down 19%, med price up 7%, DOM 106, up 43%.

North Dallas (South of LBJ):

Feb 11 vs 10: Sales down 3%, med price down 10%, DOM 205, up 42%.

YTD 11 vs 10: Sales down 16%, med price down 2%, DOM 169, up 33%.

Far North Dallas (incl Addison and to Park Blvd in Plano):

Feb 11 vs 10: Sales up 11%, med price up 4%, DOM 88, down 11%.

YTD 11 vs 10: Sales up 9%, med price down 1%, DOM 87, down 13%.

Northwest Dallas:

Feb 11 vs 10: Sales down 6%, med price up 21%, DOM 98, up 17%.

YTD 11 vs 10: Sales down 9%, med price up 15%, DOM 95, up 9%.

Northeast Dallas (incl Lake Highlands):

Feb 11 vs 10: Sales down 31%, med price down 13%, DOM 84, up 45%.

YTD 11 vs 10: Sales down 10%, med price up 7%, DOM 97, up 31%.

Plano:

Feb 11 vs 10: Sales down 18%, med price up 2%, DOM 84, up 22%.

YTD 11 vs 10: Sales down 8%, med price down 1%, DOM 89, up 25%.

Frisco:

Feb 11 vs 10: Sales up 19%, med price up 6%, DOM 92, up 37%.

YTD 11 vs 10: Sales up 16%, med price unchanged, DOM 95, up 30%.

Richardson:

Feb 11 vs 10: Sales up 12%, med price up 1%, DOM 81, up 72%.

YTD 11 vs 10: Sales down 6%, med price down 3%, DOM 80, up 70%.

Southlake:

Feb 11 vs 10: Sales up 7%, med price up 9%, DOM 96, down 28%.

YTD 11 vs 10: Sales down 29%, med price down 9%, DOM 102, down 19%.

Coppell:

Feb 11 vs 10: Sales down 4%, med price down 12%, DOM 84, up 45%.

YTD 11 vs 10: Sales up 35%, med price down 3%, DOM 93, up 75%.

Allen:

Feb 11 vs 10: Sales down 15%, med price up 10%, DOM 105, up 38%.

YTD 11 vs 10: Sales down 9%, med price up 2%, DOM 92, up 26%.

Rockwall (incl Heath):

Feb 11 vs 10: Sales up 11%, med price down 8%, DOM 129, up 47%.

YTD 11 vs 10: Sales up 4%, med price unchanged, DOM 119, up 31%.

Here is a look at Single Family home sales by price category for YTD 2011 vs 2010:

$200-299K (16.2% of sales): down 5%, 11 months inventory

$300-399K (7.3% of sales): up 8%, 13 months inventory

$400-499K (2.5% of sales): down 9%, 18 months inventory

$500-599K (1.6% of sales): up 17%, 17 months inventory

$600-699K (1.0% of sales): up 18%, 19 months inventory

$700-799K (0.7% of sales): up 29%, 17 months inventory

$800-899K (0.3% of sales): down 13%, 27 months inventory

$900-999K (0.3% of sales): up 54%, 25 months inventory

$1MM and up (0.9% of sales): up 2%, 32 months inventory

Here is a look at Condos and Townhomes sales by price category for YTD 2011 vs 2010.

$200-299K (10.5% of sales): 46 units vs 50 units year ago, 22 months inventory

$300-399K (6.9% of sales): 30 units vs 20 units year ago, 18 months

$400-499K (2.5% of sales): 11 units vs 13 units year ago, 24 months

$500-599K (0.9% of sales): 4 units vs 3 units year ago, 48 months

$600-699K (0.9% of sales): 4 units vs 4 units year ago, 18 months

$700-799K (0.7% of sales): 3 units vs 3 units year ago, 13 months

$800-899K (0.5% of sales): 2 units vs 2 units year ago, 18 months

$900-999K (0.0% of sales): 0 units vs 0 units year ago, n/a months

$1MM + (1.4% of sales): 6 units vs 6 units year ago, 22 months

Bob and Knoxie Edmonson
Allie Beth Allman & Associates
(214)563-8540

Dallas TX Homefinder Website Dallas TX Home Values Blog --- Dallas TX Homes for Sale, Condos and Real Estate Highland Park Real Estate, University Park Real Estate, Uptown Dallas Real Estate, M-Streets Real Estate

Dallas Home Sales Stats for January

2011-03-01T13:00:00.001-06:00

January home sales were down 11% from year ago, recording a total of 3073 single family sales and 194 condo and townhome sales. Historically the slowest month of the year for home sales, this January was not too different from past years. The overall median sales price was up 8% from year ago, a healthy sign for our market, and slightly ahead of December's 7% increase. January is usually slower as many home buyers try to close by year end to capture the homestead tax exemption, available in most cities and school districts, and only available for the coming year to those who occupy their new homes on December 31st.

But some cities surprise. As is typically the case, different parts of the area report widely different sales results. This month, Coppell saw more than a doubling of home sales, up 123% from last January. This represented 29 home sales vs 13 a year ago. The Uptown/Oak Lawn area saw a 38% increase in sales, Northwest Dallas a 14% increase and Park Cities a 7% increase. On the flip side, Southlake sales were off 47%, North Dallas off 32% and Richardson off 28%. I wish I had an explanation! One month doesn't make a trend, of course, and often the sales are skewed because closings, many of which are scheduled at the end of the month, can be delayed into the next month for a variety of reasons, usually financing.

It was also interesting to note the large gains in median sales price of homes sold in East Dallas (+61%), Northwest Dallas (+42%) and North Dallas (+13%). A reminder again for my new readers...this does not translate well to price appreciation. This means that more homes with higher sales tags sold this month than sold the same month last year.

As we go forward, the economic indicators are more positive at this time compared to early 2010, which bodes well for the housing industry. Lending requirements, while still quite stringent, are not as onerous as last year. More financial institutions are creating more loans and finding ways with different loan products to do business. Rates seem to have flattened out after a run-up in late fall (see graph) at around 5% for a 30-year fixed conventional mortgage. These rates are still historically low, as illustrated on this chart provided by Shelter Mortgage (you may have to rotate it). The possible phasing out of Fannie Mae and Freddie Mac, which has recently been proposed and supported by Congress and the White House, would happen over a period of time, so as to not upset the mortgage market significantly. Interest rates are still a huge wild card in the housing business, and the facinating thing is that no one has any idea where they will wind up this year.

Here are the details for single family homes and condo/townhome sales in selected areas. For a more comprehensive look at any one market, give me a call at my Allie Beth Allman office or on my cell, 214-563-8540. Scroll down for the "Sales by Price Category" info. DOM is short for Days on Market. Median Price pertains to sales occurring in the period(s).

Overall Market (North Texas):
Jan 11 vs 10: Sales down 11%, med price up 8%, DOM 98, up 18%.
YTD 11 vs 10: Sales down 11%, med price up 8%, DOM 98, up 18%.

Uptown, Downtown and Turtle Creek (Condos and Townhomes):
Jan 11 vs 10: Sales up 38%, med price down 3%, DOM 98, up 31%.
YTD 11 vs 10: Sales up 38%, med price down 3%, DOM 98, up 31%.

Highland Park and University Park, Bluffview, Devonshire and Greenway Parks:
Jan 11 vs 10: Sales up 7%, med price up 11%, DOM 120, down 17%.
YTD 11 vs 10: Sales up 7%, med price up 11%, DOM 120, down 17%

East Dallas (incl M's and Lakewood):
Jan 11 vs 10: Sales down 7%, med price up 61%, DOM 113, up 74%.
YTD 11 vs 10: Sales down 7%, med price up 61%, DOM 113, down 74%.

North Dallas (South of LBJ):
Jan 11 vs 10: Sales down 32%, med price up 13%, DOM 92, down 14%.
YTD 11 vs 10: Sales down 32%, med price up 13%, DOM 92, down 14%.

Far North Dallas (incl Addison and to Park Blvd in Plano):
Jan 11 vs 10: Sales up 3%, med price unchanged, DOM 90, down 11%.
YTD 11 vs 10: Sales up 3%, med price unchanged, DOM 90, down 11%.

Northwest Dallas:
Jan 11 vs 10: Sales down 9%, med price down 9%, DOM 95, up 4%.
YTD 11 vs 10: Sales down 9%, med price down 9%, DOM 95, down 4%.

Northeast Dallas (incl Lake Highlands):
Jan 11 vs 10: Sales up 14%, med price up 42%, DOM 110, up 13%.
YTD 11 vs 10: Sales up 14%, med price up 42%, DOM 110, up 13%.

Plano:
Jan 11 vs 10: Sales up 3%, med price down 2%, DOM 95, up 27%.
YTD 11 vs 10: Sales up 3%, med price down 2%, DOM 95, up 27%.

Frisco:
Jan 11 vs 10: Sales up 5%, med price down 6%, DOM 95, up 16%.
YTD 11 vs 10: Sales up 5%, med price down 6%, DOM 95, up 16%.

Richardson:
Jan 11 vs 10: Sales down 28%, med price down 13%, DOM 69, up 47%.
YTD 11 vs 10: Sales down 28%, med price down 13%, DOM 69, up 47%.

Southlake:
Jan 11 vs 10: Sales down 47%, med price down 15%, DOM 98, down 20%.
YTD 11 vs 10: Sales down 47%, med price down 15%, DOM 98, down 20%.

Coppell:
Jan 11 vs 10: Sales up 123%, med price up 1%, DOM 99, up 130%.
YTD 11 vs 10: Sales up 123%, med price up 1%, DOM 99, up 130%.

Allen:
Jan 11 vs 10: Sales up 2%, med price up 1%, DOM 73, up 6%.
YTD 11 vs 10: Sales up 2%, med price up 1%, DOM 73, up 6%.

Rockwall (incl Heath):
Jan 11 vs 10: Sales down 13%, med price up 11%, DOM 109, up 16%.
YTD 11 vs 10: Sales down 13%, med price up 11%, DOM 109, up 16%.

Here is a look at Single Family home sales by price category for YTD 2011 vs 2010:

$200-299K (15.6% of sales): unchanged, 12 months inventory

$300-399K (7.3% of sales): up 9%, 13 months inventory

$400-499K (2.9% of sales): unchanged, 17 months inventory

$500-599K (1.5% of sales): uuchanged, 18 months inventory

$600-699K (1.0% of sales): unchanged, 19 months inventory

$700-799K (0.7% of sales): up 17%, 18 months inventory

$800-899K (0.3% of sales): down 20%, 33 months inventory

$900-999K (0.3% of sales): up 60%, 29 months inventory

$1MM and up (0.7% of sales): down 22%, 45 months inventory

Here is a look at Condos and Townhomes sales by price category for YTD 2011 vs 2010.

$200-299K (9.3% of sales): 18 units vs 24 units year ago, 30 months inventory

$300-399K (5.7% of sales): 11 units vs 3 units year ago, 22 months

$400-499K (1.5% of sales): 3 units vs 7 units year ago, 48 months

$500-599K (1.5% of sales): 3 units vs 1 unit year ago, 30 months

$600-699K (0.5% of sales): 1 unit vs 3 units year ago, 34 months

$700-799K (0.0% of sales): 0 units vs 0 units year ago, n/a months

$800-899K (0.5% of sales): 1 unit vs 1 unit year ago, 19 months

$900-999K (0.0% of sales): 0 units vs 0 units year ago, n/a months

$1MM + (2.1% of sales): 4 units vs 1 unit year ago, 16 months

Bob Edmonson
Allie Beth Allman & Associates
(214)563-8540
Dallas TX Homefinder Website Dallas TX Home Values Blog --- Dallas TX Homes for Sale, Condos and Real Estate Highland Park Real Estate, University Park Real Estate, Uptown Dallas Real Estate, M-Streets Real Estate

Dallas Home Sales Stats for December and Year End

2011-01-13T16:22:00.000-06:00

Let's talk prices first. In 2010, there was a fair amount of press regarding home prices around the country. There are several "reliable" sources frequently quoted, such as Case-Shiller and Zillow, among others. The problem is Texas is one of a few "non-reporting" states, meaning home sales prices are not recorded in the county records. There are pros and cons to this practice, a subject for discussion at a later time. Without the public record, the MLS is the only source for accurate price information in Texas, so be a little wary of predictions and pronouncements of prices derived from third-party sources. Case Shiller has a nice set of algorithms, and often comes close, but their numbers are estimates and have a 2-month lag time when announced.

The real numbers for Dallas at the end of the year were pretty encouraging overall. The average price of homes sold in the greater Dallas area in December was up 14% over a year ago, and the median was up 7%. For the year as a whole, average sales prices were up 5% and median prices of homes sold up 2%. This doesn't mean that homes are necessarily appreciating in value, although that certainly can be a component, but that the homes which are selling are higher priced than those that sold last year.

As you know from reading this report over the years, every submarket behaves differently, so we have over achievers and under achievers when it comes to prices and sales. In December, the over achievers for median price included Lake Highlands (+34%), Lakewood/M Streets (+14%), Uptown/Oak Lawn (+14%), Park Cities (+10%), Northwest Dallas (+7%) and Allen (+5%). For 2010, ten of fourteen submarkets reported higher median sales prices vs 2009. Mortgage interest rates play a big role in this as well, as a lower interest rate allows the purchase of a higher-priced property for the same monthly payment. And we know that in October, we reached the lowest mortgage rates in our lifetimes.

Lower interest rates also allow the purchase of the "same" house for a lower monthly payment. While these lower rates created a huge incentive to buy homes, too many potential buyers were simply unable to act on the impulse. Lenders were (and are) under great pressure to avoid making loans to prospects with less than steller credit and/or with unreliable income and little cash in the bank. As a result, sales in Dallas in December were down 6% from year ago, and for the year as a whole, sales were off 7% . The sales slump occurred primarily in the $100K to $199K bracket, where the bulk of Dallas's homes are priced.

In the fourteen submarkets I track, only three reported lower sales than during last December. This year-end surge was not enough for some of the markets, which still finished the year below last year's sales figures. For the year as a whole, though, only four of the submarkets finished ahead of 2009 in sales: North Dallas (+30%), Park Cities (+29%), Southlake (+4%) and Uptown/Oak Lawn (+1%).

Will December's good numbers carry over into the new year and the spring market? I think it will, as Dallas is predicted to continue with nice job creation, and interest rates (who really knows?) continue to behave themselves. Happy New Year, Y'all.

Here are the details for single family homes and condo/townhome sales in selected areas. For a more comprehensive look at any one market, give me a call at my Allie Beth Allman office or on my cell, 214-563-8540. Scroll down for the "Sales by Price Category" info. DOM is short for Days on Market. Median Price pertains to sales occurring in the period(s).

Overall Market (North Texas):
Dec 10 vs 09: Sales down 6%, med price up 7%, DOM 91, up 10%.
YTD 10 vs 09: Sales down 7%, med price up 2%, DOM 79, down 1%.

Uptown, Downtown and Turtle Creek (Condos and Townhomes):
Dec 10 vs 09: Sales down 6%, med price up 14%, DOM 149, up 37%.
YTD 10 vs 09: Sales up 1%, med price up 6%, DOM 115, up 8%.

Highland Park and University Park, Bluffview, Devonshire and Greenway Parks:
Dec 10 vs 09: Sales up 21%, med price up 10%, DOM 116, down 18%.
YTD 10 vs 09: Sales up 30%, med price up 4%, DOM 122, up 6%

East Dallas (incl M's and Lakewood):
Dec 10 vs 09: Sales up 3%, med price up 14%, DOM 91, up 10%.
YTD 10 vs 09: Sales down 12%, med price up 4%, DOM 74, down 1%.

North Dallas (South of LBJ):
Dec 10 vs 09: Sales up 49%, med price down 1%, DOM 142, down 8%.
YTD 10 vs 09: Sales up 30%, med price down 10%, DOM 129, up 10%.

Far North Dallas (incl Addison and to Park Blvd in Plano):
Dec 10 vs 09: Sales up 8%, med price down 1%, DOM 88, up 9%.
YTD 10 vs 09: Sales down 7%, med price unchanged, DOM 81, up 16%.

Northwest Dallas:
Dec 10 vs 09: Sales down 14%, med price up 7%, DOM 91, up 17%.
YTD 10 vs 09: Sales down 5%, med price down 1%, DOM 71, down 12%.

Northeast Dallas (incl Lake Highlands):
Dec 10 vs 09: Sales up 59%, med price up 34%, DOM 90, up 14%.
YTD 10 vs 09: Sales down 10%, med price up 6%, DOM 64, down 7%.

Plano:
Dec 10 vs 09: Sales up 7%, med price down 3%, DOM 91, up 28%.
YTD 10 vs 09: Sales down 11%, med price up 3%, DOM 67, up 6%.

Frisco:
Dec 10 vs 09: Sales down 9%, med price down 1%, DOM 93, up 13%.
YTD 10 vs 09: Sales down 10%, med price up 5%, DOM 71, down 9%.

Richardson:
Dec 10 vs 09: Sales up 28%, med price down 1%, DOM 77, up 38%.
YTD 10 vs 09: Sales down 15%, med price unchanged, DOM 56, up 4%.

Southlake:
Dec 10 vs 09: Sales up 27%, med price down 7%, DOM 95, down 29%.
YTD 10 vs 09: Sales up 4%, med price up 3%, DOM 94, down 10%.

Coppell:
Dec 10 vs 09: Sales up 3%, med price down 6%, DOM 76, up 20%.
YTD 10 vs 09: Sales down 5%, med price up 7%, DOM 57, up 12%.

Allen:
Dec 10 vs 09: Sales up 59%, med price up 5%, DOM 80, up 18%.
YTD 10 vs 09: Sales down 2%, med price up 4%, DOM 67, down 9%.

Rockwall (incl Heath):
Dec 10 vs 09: Sales up 13%, med price up 5%, DOM 101, down 6%.
YTD 10 vs 09: Sales down 7%, med price up 3%, DOM 85, down 8%.

Here is a look at Single Family home sales by price category for YTD 2010 vs 2009:

$200-299K (16.8% of sales): down 5%, 6 months inventory

$300-399K (7.1% of sales): up 5%, 8 months inventory

$400-499K (2.9% of sales): up 4%, 9 months inventory

$500-599K (1.4% of sales): up 1%, 11 months inventory

$600-699K (0.9% of sales): up 16%, 11 months inventory

$700-799K (0.6% of sales): up 20%, 12 months inventory

$800-899K (0.4% of sales): up 23%, 11 months inventory

$900-999K (0.2% of sales): up 1%, 19 months inventory

$1MM and up (1.0% of sales): up 26%, 17 months inventory

Here is a look at Condos and Townhomes sales by price category for YTD 2010 vs 2009.

$200-299K (14.6% of sales): 540 units vs 591 units year ago, 11 months inventory

$300-399K (5.5% of sales): 203 units vs 251 units year ago, 14 months

$400-499K (2.0% of sales): 74 units vs 84 units year ago, 21 months

$500-599K (1.2% of sales): 44 units vs 35 units year ago, 23 months

$600-699K (0.7% of sales): 27 units vs 17 units year ago, 15 months

$700-799K (0.5% of sales): 20 units vs 16 units year ago, 12 months

$800-899K (0.3% of sales): 12 units vs 20 units year ago, 20 months

$900-999K (0.2% of sales): 8 units vs 9 units year ago, 20 months

$1MM + (0.9% of sales): 34 units vs 24 units year ago, 24 months

Bob Edmonson
Allie Beth Allman & Associates
(214)563-8540

Dallas TX Homefinder Website Dallas TX Home Values Blog --- Dallas TX Homes for Sale, Condos and Real Estate Highland Park Real Estate, University Park Real Estate, Uptown Dallas Real Estate, M-Streets Real Estate

Dallas Home Sales Stats for November

2010-12-28T14:49:00.000-06:00

November home sales continued the pattern set in October, with overall Dallas sales down 25%, bringing the 11-month total down 7% vs year ago. Just as in October, almost all of the drop in home sales was in the middle-to-lower priced home categories, those at $299,000 or less. As I mentioned last month, in the overall Dallas market, 84% of all home sales are at prices of $299,000 or less. And, 68% are at prices of $199,000 or less.

The market weakness continues to be centered on the middle to lower priced homes, those under $300,000. The heart of Dallas' real estate activity occurs in the $250,000 range, and when this sector suffers, it drags down the number for greater Dallas sales. Many first-time homebuyers are in this price bracket, and many of those wanting to buy may not have the newly-required high credit scores or down payment to trigger a purchase. Plenty of mortgage money is available for those whose credit shines, but until we see some good, steady job growth, the upper end market will have to carry us.

Sales in November were down in all the markets I track except for North Dallas and Far North Dallas. North Dallas sales nearly doubled, from 32 to 62 homes sold. Yet it takes longer to sell a house there than in any other area I follow. The average days on market in North Dallas is 143. So it is nice to see we are working down some of the inventory there. Park Cities, Southlake and Uptown are the other markets with over 100 days on the market. All four tend to be the higher-priced markets as well. And, all four are the only markets in this report which have positive year-to-date sales vs those in 2009. Sales of homes over $1 million were up 23% in November.

On another positive note, median sales prices are holding up, with the median price of homes sold in Dallas up 1% in November and up 1% year to date. In November, the median price of homes sold was up over 20% in Park Cities, Plano and Frisco and up 13% in Allen, 11% in North Dallas and 10% in Lakewood/M Streets.

A home purchase is a long term investment, and the long term for our area looks great. The recently released Census data supports recent studies indicating the region is projected to capture 35% of the population and 28% of job growth in Texas over the next five years. From 2010 to 2040, the region is expected to grow by 3,900,000 or 63%. These people will need a place to live! I will have a year end report in a couple of weeks, as we point towards an improving sales climate in 2011.

Here are the details for single family homes and condo/townhome sales in selected areas. For a more comprehensive look at any one market, give me a call at my Allie Beth Allman office or on my cell, 214-563-8540. Scroll down for the "Sales by Price Category" info. DOM is short for Days on Market. Median Price pertains to sales occurring in the period(s).

Overall Market (North Texas):
Nov 10 vs 09: Sales down 25%, med price up 1%, DOM 85, up 12%.
YTD 10 vs 09: Sales down 7%, med price up 1%, DOM 78, down 2%.

Uptown, Downtown and Turtle Creek (Condos and Townhomes):
Nov 10 vs 09: Sales down 15%, med price down 19%, DOM 129, up 22%.
YTD 10 vs 09: Sales up 2%, med price up 6%, DOM 97, up 17%.

Highland Park and University Park, Bluffview, Devonshire and Greenway Parks:
Nov 10 vs 09: Sales down 2%, med price up 24%, DOM 128, down 17%.
YTD 10 vs 09: Sales up 30%, med price up 4%, DOM 122, up 6%

East Dallas (incl M's and Lakewood):
Nov 10 vs 09: Sales down 18%, med price up 10%, DOM 72, up 1%.
YTD 10 vs 09: Sales down 13%, med price up 4%, DOM 73, down 1%.

North Dallas (South of LBJ):
Nov 10 vs 09: Sales up 88%, med price up 11%, DOM 143, up 4%.
YTD 10 vs 09: Sales up 29%, med price down 9%, DOM 128, up 12%.

Far North Dallas (incl Addison and to Park Blvd in Plano):
Nov 10 vs 09: Sales up 15%, med price up 6%, DOM 80, up 19%.
YTD 10 vs 09: Sales down 7%, med price up 1%, DOM 80, up 14%.

Northwest Dallas:
Nov 10 vs 09: Sales down 44%, med price down 5%, DOM 74, up 6%.
YTD 10 vs 09: Sales down 5%, med price down 4%, DOM 70, down 14%.

Northeast Dallas (incl Lake Highlands):
Nov 10 vs 09: Sales down 24%, med price up 6%, DOM 66, down 18%.
YTD 10 vs 09: Sales down 14%, med price up 6%, DOM 61, down 12%.

Plano:
Nov 10 vs 09: Sales down 18%, med price up 21%, DOM 79, up 46%.
YTD 10 vs 09: Sales down 12%, med price up 4%, DOM 65, up 5%.

Frisco:
Nov 10 vs 09: Sales down 30%, med price up 26%, DOM 92, up 23%.
YTD 10 vs 09: Sales down 11%, med price up 5%, DOM 70, down 10%.

Richardson:
Nov 10 vs 09: Sales down 51%, med price down 3%, DOM 80, up 82%.
YTD 10 vs 09: Sales down 18%, med price unchanged, DOM 54, unchanged.

Southlake:
Nov 10 vs 09: Sales down 47%, med price down 12%, DOM 101, down 8%.
YTD 10 vs 09: Sales up 2%, med price up 3%, DOM 94, down 7%.

Coppell:
Nov 10 vs 09: Sales down 40%, med price up 4%, DOM 59, up 20%.
YTD 10 vs 09: Sales down 5%, med price up 7%, DOM 55, up 10%.

Allen:
Nov 10 vs 09: Sales down 20%, med price up 13%, DOM 78, up 39%.
YTD 10 vs 09: Sales down 5%, med price up 3%, DOM 66, down 11%.

Rockwall (incl Heath):
Nov 10 vs 09: Sales down 34%, med price up 5%, DOM 79, down 17%.
YTD 10 vs 09: Sales down 9%, med price up 4%, DOM 84, down 8%.

Here is a look at Single Family home sales by price category for YTD 2010 vs 2009:

$200-299K (16.8% of sales): down 5%, 7 months inventory

$300-399K (7.1% of sales): up 4%, 9 months inventory

$400-499K (2.9% of sales): up 3%, 11 months inventory

$500-599K (1.4% of sales): up 1%, 13 months inventory

$600-699K (0.9% of sales): up 14%, 13 months inventory

$700-799K (0.6% of sales): up 21%, 14 months inventory

$800-899K (0.4% of sales): up 27%, 13 months inventory

$900-999K (0.2% of sales): down 2%, 22 months inventory

$1MM and up (1.0% of sales): up 23%, 20 months inventory

Here is a look at Condos and Townhomes sales by price category for YTD 2010 vs 2009.

$200-299K (14.7% of sales): 501 units vs 582 units year ago, 13 months inventory

$300-399K (5.4% of sales): 184 units vs 207 units year ago, 17 months

$400-499K (2.0% of sales): 68 units vs 71 units year ago, 22 months

$500-599K (1.2% of sales): 40 units vs 29 units year ago, 27 months

$600-699K (0.8% of sales): 26 units vs 15 units year ago, 16 months

$700-799K (0.4% of sales): 12 units vs 13 units year ago, 27 months

$800-899K (0.3% of sales): 10 units vs 18 units year ago, 22 months

$900-999K (0.2% of sales): 7 units vs 6 units year ago, 20 months

$1MM + (0.9% of sales): 31 units vs 24 units year ago, 27 months

Bob and Knoxie Edmonson

Bob Edmonson
Allie Beth Allman & Assoc
(214)563-8540

Dallas TX Homefinder Website Dallas TX Home Values Blog --- Dallas TX Homes for Sale, Condos and Real Estate Highland Park Real Estate, University Park Real Estate, Uptown Dallas Real Estate, M-Streets Real Estate

Dallas Home Sales Stats for October

2010-11-28T16:03:00.002-06:00

Home sales in October on first glance looked very weak. Overall sales were down 30% from a year ago, bringing the 10-month total down 5% vs year ago. Almost all of the drop in home sales is in the middle-to-lower priced home categories, those at $299,000 or less. In the overall Dallas market, 84% of all home sales are at prices of $299,000 or less. And, 68% are at prices of $199,000 or less. Dallas is truly a very affordable home market. However, these middle to lower brackets are where the damage is being done. The absence of the tax credits which were available this time last year, coupled with the weak job market and difficulty in obtaining financing, is slamming the entry level housing sector. Buyers for this 84% of the Dallas housing market are often-times first time home buyers, young and with little in savings. Many are unemployed or underemployed. A few years ago, they were buying homes with little or no downpayment. We all know those days are behind us. With this large chunk of the population still wanting to buy but relegated to rental apartments, the sales comparisons versus year ago are indeed weak.

What about the other 16% of the housing market? Sales are up nicely, from the $300's on up, and up double digits in several price categories. (The only higher-end bracket I follow in this report that had lower sales was the $900's for single family homes, which has been consistently soft this year, for no rhyme nor reason. If you are trying to sell a house in the $900's, try the $800's or $1.0M's). It makes sense that most buyers in the upper-end categories have savings, can put the required 20% down, or have other sources of funds to make a home purchase. These buyers may have longer and better credit and employment histories as well. This bifurcated market will return to "normal", where all price points are showing sales gains, as the economy improves and entry-level and middle-management jobs are created.

On prices, median sales prices are up year-to-date in all submarkets I track, with the exception of North Dallas and Northwest Dallas. Even in the Dallas market as a whole, median sales prices are up 1% for the year. Median sales prices are up 8% for the year in the Uptown/Oak Lawn market, which also saw a bit of sales surge in October, probably related to the higher number of "expensive" condos sold this year compared to last. It's always reassuring to see homes selling at higher prices in hard times, which serves as a reminder that the local and state economies continue to exhibit resiliency and continue to attract job seekers from lesser-performing areas of the country.

Here are the details for single family homes and condo/townhome sales in selected areas. For a more comprehensive look at any one market, give me a call at my Allie Beth Allman office or on my cell, 214-563-8540. Scroll down for the "Sales by Price Category" info. DOM is short for Days on Market. Median Price pertains to sales occurring in the period(s).

Overall Market (North Texas):
Oct 10 vs 09: Sales down 30%, med price up 3%, DOM 85, up 13%.
YTD 10 vs 09: Sales down 5%, med price up 1%, DOM 77, down 3%.

Uptown, Downtown and Turtle Creek (Condos and Townhomes):
Oct 10 vs 09: Sales up 20%, med price up 23%, DOM 114, up 16%.
YTD 10 vs 09: Sales up 5%, med price up 8%, DOM 111, up 6%.

Highland Park and University Park, Bluffview, Devonshire and Greenway Parks:
Oct 10 vs 09: Sales down 6%, med price up 4%, DOM 155, up 25%.
YTD 10 vs 09: Sales up 35%, med price up 3%, DOM 122, up 11%

East Dallas (incl M's and Lakewood):
Oct 10 vs 09: Sales down 42%, med price up 18%, DOM 92, up 33%.
YTD 10 vs 09: Sales down 12%, med price up 4%, DOM 73, down 3%.

North Dallas (South of LBJ):
Oct 10 vs 09: Sales up 5%, med price down 33%, DOM 124, down 2%.
YTD 10 vs 09: Sales up 24%, med price down 9%, DOM 126, up 13%.

Far North Dallas (incl Addison and to Park Blvd in Plano):
Oct 10 vs 09: Sales down 21%, med price up 6%, DOM 102, up 62%.
YTD 10 vs 09: Sales down 9%, med price up 2%, DOM 80, up 14%.

Northwest Dallas:
Oct 10 vs 09: Sales down 11%, med price down 19%, DOM 83, up 4%.
YTD 10 vs 09: Sales down 1%, med price down 5%, DOM 70, down 16%.

Northeast Dallas (incl Lake Highlands):
Oct 10 vs 09: Sales down 29%, med price up 3%, DOM 84, up 24%.
YTD 10 vs 09: Sales down 12%, med price up 6%, DOM 61, down 10%.

Plano:
Oct 10 vs 09: Sales down 34%, med price up 7%, DOM 77, up 24%.
YTD 10 vs 09: Sales down 10%, med price up 3%, DOM 62, down 2%.

Frisco:
Oct 10 vs 09: Sales down 29%, med price up 8%, DOM 77, up 7%.
YTD 10 vs 09: Sales down 10%, med price up 4%, DOM 68, down 13%.

Richardson:
Oct 10 vs 09: Sales down 33%, med price down 3%, DOM 64, up 73%.
YTD 10 vs 09: Sales down 15%, med price up 1%, DOM 53, down 4%.

Southlake:
Oct 10 vs 09: Sales unchanged, med price up 9%, DOM 127, up 32%.
YTD 10 vs 09: Sales up 7%, med price up 4%, DOM 95, down 6%.

Coppell:
Oct 10 vs 09: Sales down 3%, med price up 30%, DOM 71, down 1%.
YTD 10 vs 09: Sales unchanged, med price up 7%, DOM 55, up 10%.

Allen:
Oct 10 vs 09: Sales down 44%, med price up 7%, DOM 55, down 28%.
YTD 10 vs 09: Sales down 4%, med price up 2%, DOM 65, down 13%.

Rockwall (incl Heath):
Oct 10 vs 09: Sales down 35%, med price down 6%, DOM 98, up 18%.
YTD 10 vs 09: Sales down 7%, med price up 4%, DOM 85, down 7%.

Here is a look at Single Family home sales by price category for YTD 2010 vs 2009:

$200-299K (16.8% of sales): down 4%, 7 months inventory

$300-399K (7.1% of sales): up 5%, 9 months inventory

$400-499K (2.9% of sales): up 2%, 11 months inventory

$500-599K (1.4% of sales): up 2%, 13 months inventory

$600-699K (0.9% of sales): up 16%, 14 months inventory

$700-799K (0.6% of sales): up 16%, 16 months inventory

$800-899K (0.4% of sales): up 29%, 15 months inventory

$900-999K (0.2% of sales): down 6%, 25 months inventory

$1MM and up (0.9% of sales): up 20%, 22 months inventory

Here is a look at Condos and Townhomes sales by price category for YTD 2010 vs 2009.

$200-299K (14.8% of sales): 469 units vs 484 units year ago, 13 months inventory

$300-399K (5.5% of sales): 173 units vs 192 units year ago, 17 months

$400-499K (2.0% of sales): 63 units vs 66 units year ago, 22 months

$500-599K (1.1% of sales): 36 units vs 23 units year ago, 26 months

$600-699K (0.7% of sales): 23 units vs 15 units year ago, 20 months

$700-799K (0.4% of sales): 12 units vs11 units year ago, 25 months

$800-899K (0.3% of sales): 10 units vs 12 units year ago, 20 months

$900-999K (0.2% of sales): 7 units vs 3 units year ago, 20 months

$1MM + (0.9% of sales): 30 units vs 18 units year ago, 28 months

Bob and Knoxie Edmonson

Bob Edmonson
Allie Beth Allman & Assoc.
(214)563-8540

Dallas TX Homefinder Website Dallas TX Home Values Blog --- Dallas TX Homes for Sale, Condos and Real Estate Highland Park Real Estate, University Park Real Estate, Uptown Dallas Real Estate, M-Streets Real Estate

Dallas Home Sales Stats for September

2010-10-18T15:25:00.000-05:00

We are down 3 going into the 4th quarter...no, not the Cowboys, although it could be! It's Dallas' year-to-date sales, down 3% after the first nine months of the year. Weak August and September sales vs the same months a year ago pushed us into negative territory for the year. Only two submarkets were ahead of last September in sales--Park Cities (+16%) and Coppell (+6%), but several markets are still in the plus territory for the nine months year to date. These include North Dallas, Northwest Dallas, Uptown, Allen and Southlake, as well as Park Cities and Coppell. The higher end of the market ($600K+) is selling better right now, a reversal of the late 2009 and early 2010 trend, which was supported at the middle and lower ranges by the home purchase tax credit. Lenders still require a 20% down payment in most cases, which may be more difficult for the first time home buyer to produce.

The homes that are selling are selling at higher prices than homes that sold last year. Almost every market has higher median sales prices year-to-date. Only North Dallas (-6%), Northwest Dallas (-2%) and Far North Dallas (no change) are behind last year's first nine months' median price changes. Generally lower home prices coupled with record low mortgage rates are spurring those with good credit and down payments to take advantage of the current opportunity.

Favorable economic projections make "taking the plunge" a bit easier to do. New Census data trickling in bodes well for our housing market. Texas added more than 174,000 jobs in the last year, more than any other state by far. Texas gained 480,000 people from 2008 to 2009, more than any other state. Dallas/Ft Worth population is estimated to increase by more than 700,000 by 2014, with a 5-year job growth projection of 405,000 people. And, Texas was voted the best state to do business in for the 6th year in a row by CEO Magazine. Lots of reason for optimisim!

On a side note, I have received several calls regarding an email circulating which claims that there is going to be a national 4.0% transaction tax for all home sales beginning in a few years. This was supposedly included in the health care legislation passed in 2009. Our local real estate board and the National Association of Realtors says, "NO!". I have attached a release by the NAR, which describes this "myth", as they refer to it. Texas, as you know, has no transfer tax for home sales, but many states do. The Texas real estate PAC advocates strongly against this in Austin, and the NAR is keeping a close eye on the national scene.

Speaking of taxes, now that the property tax bills have been mailed, do keep in mind that many Texas counties permit you to pay online with a credit card, so if you like amassing lots of points on your card quickly, there is hardly a better way. Dallas County, for one, does accept credit cards.

Lastly, if you live in Dallas County and you want to get a look at the actual ballot for the upcoming Nov 2nd election, go to www.dalcoelections.org/voters.asp and check it out. It is tailored for each voter's precinct, based on the address info you provide.

Here are the details for single family homes and condo/townhome sales in selected areas. For a more comprehensive look at any one market, give me a call at my Allie Beth Allman office or on my cell, 214-563-8540. Scroll down for the "Sales by Price Category" info. DOM is short for Days on Market. Median Price pertains to sales occurring in the period(s).

Overall Market (North Texas):

Sep 10 vs 09: Sales down 22%, med price up 3%, DOM 82, up 8%.
YTD 10 vs 09: Sales down 3%, med price up 2%, DOM 77, down 5%.

Uptown, Downtown and Turtle Creek (Condos and Townhomes):
Sep 10 vs 09: Sales down 15%, med price up 5%, DOM 96, up 5%.
YTD 10 vs 09: Sales up 4%, med price up 6%, DOM 107, up 3%.

Highland Park and University Park, Bluffview, Devonshire and Greenway Parks:
Sep 10 vs 09: Sales up 16%, med price up 15%, DOM 137, up 1%.
YTD 10 vs 09: Sales up 41%, med price up 3%, DOM 119, up 9%.

East Dallas (incl M's and Lakewood):
Sep 10 vs 09: Sales down 24%, med price up 28%, DOM 96, up 23%.
YTD 10 vs 09: Sales down 8%, med price up 3%, DOM 71, down 5%.

North Dallas (South of LBJ):
Sep 10 vs 09: Sales down 4%, med price down 24%, DOM 152, up 8%.
YTD 10 vs 09: Sales up 28%, med price down 6%, DOM 126, up 15%.

Far North Dallas (incl Addison and to Park Blvd in Plano):
Sep 10 vs 09: Sales down 16%, med price down 5%, DOM 93, up 37%.
YTD 10 vs 09: Sales down 7%, med price unchanged, DOM 79, up 11%.

Northwest Dallas:
Sep 10 vs 09: Sales down 44%, med price up 22%, DOM 80, down 2%.
YTD 10 vs 09: Sales up 1%, med price down 2%, DOM 70, down 16%.

Northeast Dallas (incl Lake Highlands):
Sep 10 vs 09: Sales down 55%, med price up 10%, DOM 48, down 45%.
YTD 10 vs 09: Sales down 9%, med price up 5%, DOM 59, down 13%.

Plano:
Sep 10 vs 09: Sales down 25%, med price up 1%, DOM 58, down 2%.
YTD 10 vs 09: Sales down 10%, med price up 3%, DOM 62, down 2%.

Frisco:
Sep 10 vs 09: Sales down 40%, med price up 5%, DOM 69, up 3%.
YTD 10 vs 09: Sales down 8%, med price up 3%, DOM 67, down 15%.

Richardson:
Sep 10 vs 09: Sales down 16%, med price down 1%, DOM 58, up 35%.
YTD 10 vs 09: Sales down 12%, med price up 2%, DOM 52, down 9%.

Southlake:
Sep 10 vs 09: Sales down 9%, med price down 12%, DOM 94, up 1%.
YTD 10 vs 09: Sales up 8%, med price up 4%, DOM 93, down 8%.

Coppell:
Sep 10 vs 09: Sales up 6%, med price up 13%, DOM 67, up 97%.
YTD 10 vs 09: Sales up 1%, med price up 6%, DOM 53, up 10%.

Allen:
Sep 10 vs 09: Sales down 37%, med price down 2%, DOM 59, down 23%.
YTD 10 vs 09: Sales up 1%, med price up 2%, DOM 66, down 12%.

Rockwall (incl Heath):
Sep 10 vs 09: Sales down 17%, med price down 1%, DOM 84, down 13%.
YTD 10 vs 09: Sales down 4%, med price up 4%, DOM 83, down 10%.

Here is a look at Single Family home sales by price category for YTD 2010 vs 2009:

$200-299K (16.9% of sales): unchanged, 8 months inventory
$300-399K (7.0% of sales): up 3%, 8 months inventory

$400-499K (3.0% of sales): up 4%, 11 months inventory

$500-599K (1.4% of sales): up 1%, 14 months inventory

$600-699K (0.9% of sales): up 20%, 15 months inventory

$700-799K (0.6% of sales): up 17%, 18 months inventory

$800-899K (0.4% of sales): up 36%, 15 months inventory

$900-999K (0.2% of sales): down 3%, 25 months inventory

$1MM and up (0.9% of sales): up 23%, 22 months inventory

Here is a look at Condos and Townhomes sales by price category for YTD 2010 vs 2009.

$200-299K (14.3% of sales): 415 units vs 443 units year ago, 14 months inventory

$300-399K (5.5% of sales): 159 units vs 196 units year ago, 18 months

$400-499K (2.0% of sales): 59 units vs 63 units year ago, 23 months

$500-599K (1.2% of sales): 35 units vs 23 units year ago, 23 months

$600-699K (1.2% of sales): 22 units vs 14 units year ago, 22 months

$700-799K (0.4% of sales):11 units vs 9 units year ago, 28 months

$800-899K (0.2% of sales): 7 units vs 12 units year ago, 23 months

$900-999K (0.2% of sales): 7 units vs 3 units year ago, 18 months

$1MM + (1.0% of sales): 29 units vs 16 units year ago, 26 months

Bob Edmonson
Allie Beth Allman & Assoc.
(214)563-8540

Dallas TX Homefinder Website Dallas TX Home Values Blog --- Dallas TX Homes for Sale, Condos and Real Estate Highland Park Real Estate, University Park Real Estate, Uptown Dallas Real Estate, M-Streets Real Estate

Dallas Home Sales Stats for August

2010-09-28T17:55:00.000-05:00

Dallas home sales in August were 17% lower than last August's sales. This brought the eight month total down to match the sales year-to-date in 2009. August marked the second month of lower sales following a fairly bouyant spring, which as we know was supported by tax credits incentivizing first-time home buyers. August sales of homes priced below $200,000, which account for 65% of all Dallas home sales, were hardest hit, while homes priced from the $200K's to the $500K's were up modestly (single digit increases), and sales of homes priced in the $600K's and above were up even higher (double digits-20% or more, with one exception). This offers pretty strong evidence of how the government incentives earlier in the year shifted sales volume at the lower end from late summer to late spring. Remember, August sales reflect July contracts.

Not all areas in Dallas had lower sales. Coppell (+24%), North Dallas (+17%), and Lake Highlands (+8%) did quite well in August, with North Dallas up 37% for the first eight months vs last year. Park Cities, despite an off month in August, still posted a 46% improvement in sales over the same eight months a year ago.

Except for a few markets, median prices of homes sold were up strongly in August, particularly in North Dallas (15%) and Lake Highlands (+33%). Several markets showed median price increases of from 4-9%. Only East Dallas and Northwest Dallas have year-to-date median prices below those of last year for homes sold. This doesn't mean that home values are up by these amounts; it just means that the prices of homes sold are higher this month/YTD than the prices of homes sold last year. Still, this is healthy sign for our real estate market.

The Federal Reserve Bank of Dallas noted in its September Economic Update that the housing market is still weak across the region, with single family home permits and residential construction contract values sliding off recent gains. I think we can all agree that this is a difficult market, especially those trying to sell homes right now. For buyers, the conditions could hardly be better--record low mortgage rates, good values and lots of choices. The Wall Street Journal came out with a piece about this, with 10 reasons why now is a good time to be a buyer. Check it out!

Here are the details for single family homes and condo/townhome sales in selected areas. For a more comprehensive look at any one market, give me a call at my Allie Beth Allman office or on my cell, 214-563-8540. Scroll down for the "Sales by Price Category" info. DOM is short for Days on Market. Median Price pertains to sales occurring in the period(s).

Overall Market (North Texas):
Aug 10 vs 09: Sales down 17%, med price up 4%, DOM 77, down 1%.
YTD 10 vs 09: Sales unchanged, med price up 4%, DOM 76, down 6%.

Uptown, Downtown and Turtle Creek (Condos and Townhomes):
Aug 10 vs 09: Sales down 14%, med price down 5%, DOM 99, down 14%.
YTD 10 vs 09: Sales up 8%, med price up 8%, DOM 108, up 3%.

Highland Park and University Park, Bluffview, Devonshire and Greenway Parks:
Aug 10 vs 09: Sales down 8%, med price up 6%, DOM 121, up 3%.
YTD 10 vs 09: Sales up 46%, med price up 3%, DOM 117, up 11%.

East Dallas (incl M's and Lakewood):
Aug 10 vs 09: Sales down 30%, med price up 4%, DOM 68, down 14%.
YTD 10 vs 09: Sales down 6%, med price down 1%, DOM 68, down 9%.

North Dallas (South of LBJ):
Jul 10 vs 09: Sales up 17%, med price up 15%, DOM 145, up 56%.
YTD 10 vs 09: Sales up 37%, med price up 1%, DOM 122, up 15%.

Far North Dallas (incl Addison and to Park Blvd in Plano):
Aug 10 vs 09: Sales up 1%, med price up 8%, DOM 95, up 70%.
YTD 10 vs 09: Sales down 6%, med price up 2%, DOM 78, up 10%.

Northwest Dallas:
Aug 10 vs 09: Sales down 28%, med price up 9%, DOM 73, up 9%.
YTD 10 vs 09: Sales up 8%, med price down 6%, DOM 68, down 18%.

Northeast Dallas (incl Lake Highlands):
Aug 10 vs 09: Sales up 8%, med price up 33%, DOM 59, unchanged.
YTD 10 vs 09: Sales down 1%, med price up 5%, DOM 60, down 6%.

Plano:
Aug 10 vs 09: Sales down 27%, med price up 9%, DOM 63, up 2%.
YTD 10 vs 09: Sales down 8%, med price up 3%, DOM 63, down 2%.

Frisco:
Aug 10 vs 09: Sales down 25%, med price up 6%, DOM 69, down 7%.
YTD 10 vs 09: Sales down 4%, med price up 2%, DOM 67, down 17%.

Richardson:
Aug 10 vs 09: Sales down 12%, med price up 1%, DOM 57, up 12%.
YTD 10 vs 09: Sales down 12%, med price up 3%, DOM 51, down 14%.

Southlake:
Aug 10 vs 09: Sales down 33%, med price down 3%, DOM 66, down 33%.
YTD 10 vs 09: Sales up 10%, med price up 4%, DOM 93, down 9%.

Coppell:
Aug 10 vs 09: Sales up 24%, med price down 6%, DOM 50, down 7%.
YTD 10 vs 09: Sales up 2%, med price up 6%, DOM 51, up 2%.

Allen:
Aug 10 vs 09: Sales down 8%, med price up 17%, DOM 72, down 4%.
YTD 10 vs 09: Sales up 6%, med price up 3%, DOM 66, down 12%.

Rockwall (incl Heath):
Aug 10 vs 09: Sales down 29%, med price up 6%, DOM 86, down 13%.
YTD 10 vs 09: Sales down 4%, med price up 4%, DOM 84, down 8%.

Here is a look at Single Family home sales by price category for YTD 2010 vs 2009:

$200-299K (16.8% of sales): up 2%, 8 months inventory

$300-399K (7.0% of sales): up 5%, 10 months inventory

$400-499K (3.0% of sales): up 4%, 12 months inventory

$500-599K (1.4% of sales): up 3%, 14 months inventory

$600-699K (0.9% of sales): up 23%, 15 months inventory

$700-799K (0.6% of sales): up 25%, 17 months inventory

$800-899K (0.4% of sales): up 48%, 15 months inventory

$900-999K (0.2% of sales): down 5%, 26 months inventory

$1MM and up (0.9% of sales): up 25%, 23 months inventory

Here is a look at Condos and Townhomes sales by price category for YTD 2010 vs 2009.

$200-299K (14.3% of sales): 373 units vs 389 units year ago, 14 months inventory

$300-399K (5.5% of sales): 145 units vs 150 units year ago, 18 months

$400-499K (2.2% of sales): 57 units vs 54 units year ago, 19 months

$500-599K (1.2% of sales): 31 units vs 22 units year ago, 24 months

$600-699K (0.7% of sales): 19 units vs 9 units year ago, 22 months

$700-799K (0.3% of sales): 9 units vs 6 units year ago, 36 months

$800-899K (0.2% of sales): 6 units vs 10 units year ago, 24 months

$900-999K (0.2% of sales): 4 units vs 3 units year ago, 32 months

$1MM + (0.7% of sales): 18 units vs 9 units year ago, 38 months

Bob Edmonson
Allie Beth Allman & Assoc.
(214)563-8540
Dallas TX Homefinder Website Dallas TX Home Values Blog --- Dallas TX Homes for Sale, Condos and Real Estate Highland Park Real Estate, University Park Real Estate, Uptown Dallas Real Estate, M-Streets Real Estate

Dallas Home Sales Stats For July

2010-08-22T21:50:00.001-05:00

If there were ever any doubt that the federal housing credit for home purchases was going to cannabalize sales once it was over, put that doubt to rest! July sales swooned in the aftermath of the tax credit, which originally called for all eligible purchases to close by end of June. Even though the deadline was extended late in the program to the end of September, most all buyers were lined up to close on the original schedule in June. And they did. Overall Dallas sales were down a hefty 29% in July, and most of the hit was to the mid-range priced homes. Homes priced at $600,000 and above sold pretty well compared to last year's July, but the $200K to $599K homes sat for the most part. This makes sense, as most of the tax credit was aimed at first time home buyers, who tend to buy lower priced homes.

July usually begins the windown of sales, which in Dallas peak the end of June in every year. This July, however, proved that the tax credit worked as planned. My hunch is that August will be a slow sales month as well, living up to its historic pattern and then some.

A quick look at the submarket sales shows that the Park Cities, North Dallas and Southlake did quite well in July and actually have continued to rally well above last year's sales figures. Median sales prices are up nicely in those markets as well. In fact, Park Cities nudged up over $1 million for median sales price, almost back to pre-meltdown prices for homes sold. These three markets are higher priced markets, so their sales this year were not influenced heavily by the tax credit.

Mortgage rates continue to drop to levels not seen in decades (or lifetimes to some). Could we be looking at 3.9% for a conventional 30 year fixed loan soon? It's heading there. Today, 4.0% with one point is doable with great credit. Pretty amazing. Rates have been so good for so long that we are becoming numb to the real values. With these rates are real opportunities. Refinancings have taken off again, and refi's for jumbo loans can now be had at rates below 5% on 30 year fixed loans. This was not the case just months ago. If you need a lender contact or two, give me a call.

Here are the details for single family homes and condo/townhome sales in selected areas. For a more comprehensive look at any one market, give me a call at my Allie Beth Allman office or on my cell, 214-563-8540. Scroll down for the "Sales by Price Category" info. DOM is short for Days on Market. Median Price pertains to sales occurring in the period(s).

Overall Market (North Texas):
Jul 10 vs 09: Sales down 29%, med price up 1%, DOM 77, down 1%.
YTD 10 vs 09: Sales up 3%, med price up 1%, DOM 76, down 7%.

Uptown, Downtown and Turtle Creek (Condos and Townhomes):
Jul 10 vs 09: Sales down 7%, med price up 46%, DOM 153, up 37%.
YTD 10 vs 09: Sales up 13%, med price up 8%, DOM 110, up 6%.

Highland Park and University Park, Bluffview, Devonshire and Greenway Parks:
Jul 10 vs 09: Sales up 34%, med price up 30%, DOM 126, up 21%.
YTD 10 vs 09: Sales up 58%, med price up 2%, DOM 116, up 14%.

East Dallas (incl M's and Lakewood):
Jul 10 vs 09: Sales down 30%, med price down 4%, DOM 78, up 13%.
YTD 10 vs 09: Sales down 2%, med price unchanged, DOM 68, down 8%.

North Dallas (South of LBJ):
Jul 10 vs 09: Sales up 17%, med price up 15%, DOM 145, up 56%.
YTD 10 vs 09: Sales up 37%, med price up 1%, DOM 122, up 15%.

Far North Dallas (incl Addison and to Park Blvd in Plano):
Jul 10 vs 09: Sales down 37%, med price up 8%, DOM 76, up 21%.
YTD 10 vs 09: Sales down 6%, med price up 2%, DOM 76, up 4%.

Northwest Dallas:
Jul 10 vs 09: Sales down 34%, med price down 1%, DOM 66, down 15%.
YTD 10 vs 09: Sales up 13%, med price down 7%, DOM 67, down 22%.

Northeast Dallas (incl Lake Highlands):
Jul 10 vs 09: Sales down 47%, med price up 9%, DOM 55, down 23%.
YTD 10 vs 09: Sales down 2%, med price down 3%, DOM 60, down 8%.

Plano:
Jul 10 vs 09: Sales down 26%, med price up 8%, DOM 63, up 3%.
YTD 10 vs 09: Sales down 4%, med price up 2%, DOM 63, down 2%.

Frisco:
Jul 10 vs 09: Sales down 31%, med price up 15%, DOM 74, unchanged.
YTD 10 vs 09: Sales down 1%, med price up 2%, DOM 65, down 13%.

Richardson:
Jul 10 vs 09: Sales down 48%, med price up 5%, DOM 47, down 2%.
YTD 10 vs 09: Sales down 11%, med price up 3%, DOM 50, down 18%.

Southlake:
Jul 10 vs 09: Sales up 38%, med price up 18%, DOM 76, down 42%.
YTD 10 vs 09: Sales up 23%, med price up 5%, DOM 95, down 8%.

Coppell:
Jul 10 vs 09: Sales down 27%, med price up 8%, DOM 52, up 6%.
YTD 10 vs 09: Sales down 3%, med price up 7%, DOM 51, up 4%.

Allen:
Jul 10 vs 09: Sales down 30%, med price up 12%, DOM 60, down 6%.
YTD 10 vs 09: Sales up 8%, med price up 2%, DOM 65, down 13%.

Rockwall (incl Heath):
Jul 10 vs 09: Sales down 32%, med price up 2%, DOM 87, down 1%.
YTD 10 vs 09: Sales up 2%, med price up 5%, DOM 83, down 7%.

Here is a look at Single Family home sales by price category for YTD 2010 vs 2009:

$200-299K (16.6% of sales): up 3%, 8 months inventory

$300-399K (6.9% of sales): up 7%, 10 months inventory

$400-499K (2.9% of sales): up 5%, 13 months inventory

$500-599K (1.4% of sales): up 10%, 14 months inventory

$600-699K (0.9% of sales): up 25%, 16 months inventory

$700-799K (0.6% of sales): up 28%, 18 months inventory

$800-899K (0.4% of sales): up 51%, 16 months inventory

$900-999K (0.2% of sales): down 9%, 31 months inventory

$1MM and up (1.0% of sales): up 35%, 23 months inventory

Here is a look at Condos and Townhomes sales by price category for YTD 2010 vs 2009.

$200-299K (14.5% of sales): 339 units vs 345 units year ago, 14 months inventory

$300-399K (5.4% of sales): 126 units vs 129 units year ago, 20 months

$400-499K (2.1% of sales): 49 units vs 48 units year ago, 21 months

$500-599K (1.2% of sales): 29 units vs 18 units year ago, 25 months

$600-699K (0.7% of sales): 16 units vs 9 units year ago, 22 months

$700-799K (0.3% of sales): 8 units vs 4 units year ago, 41 months

$800-899K (0.2% of sales): 4 units vs 7 units year ago, 47 months

$900-999K (0.2% of sales): 4 units vs 2 units year ago, 26 months

$1MM + (0.7% of sales): 17 units vs 6 units year ago, 36 months

Bob and Knoxie Edmonson
Allie Beth Allman & Assoc. (214)563-8540

Dallas TX Homefinder Website Dallas TX Home Values Blog --- Dallas TX Homes for Sale, Condos and Real Estate Highland Park Real Estate, University Park Real Estate, Uptown Dallas Real Estate, M-Streets Real Estate

Dallas Home Sales Stats for June and 1st Half

2010-07-16T17:19:00.001-05:00

I was a bit surprised to see June sales for the Dallas area post a 3% decline vs June year ago. June, as you know, marked the last month homes could close and still be eligible for the tax credit given for contracts written earlier in the spring. (The June 30 deadline was extended through the summer, but that decision was made at the end of June). Many believed that there would be a crush of sales towards the end of June, but while June was reasonably busy, it appears most buyers and sellers taking advantage of the credit closed in May or earlier. May sales had been up 18% over May, 2009. Historically, June represents the peak of Dallas' home sales, with sales gradually tapering off until bottoming out in January.

There was no discernable pattern supporting the aggregate sales number above, as several submarkets' sales were up significantly (North Dallas +46%, Park Cities +56%, and Northwest Dallas +23%) and a few down significantly (Richardson -28%, Allen -20%). Median sales prices were up as much as 23% in Southlake and down as much as 22% in Coppell. For the first half of the year, all the submarkets are still outperforming 2009 in sales (+9% Dallas overall) and median sales price(+2%).

Mortgage interest rates are at record lows, with 30-year fixed conventional loans around 4.3% and 15-year fixed jumbo loans at 4.5%. This is quite remarkable, and the fact that more are not taking advantage speaks to the pessimism some people have about the ability to sell the home they currently occupy, whether here in Dallas or elsewhere while considering relocation. But Dallas' short term and long term outlook is very favorable for the housing business. In a Wall Street Journal story dated July 9th and captioned, "Housing Bulls Should Try Texas", Texas' supply of new homes is in rough balance with demand, there is a lower-than-average foreclosure rate, and Texas' unemployment rate at 8.3% is below the national average. A report in The Dallas Morning News on July 8th stated that Dallas now leads the country among cities where people are moving, according to Movers.com. Houston and Phoenix are next in line. The Texas economy is the fastest growing economy in the nation, and the DFW area leads the country in population growth. Click here to see a quick slide show of our economic indicators from the Dallas Federal Reserve Bank.

Most interesting is the story published in the July 16th issue of the Dallas Business Journal, which reported that at least four companies within the past month have announced intentions to move their headquarters to the DFW area, and the Dallas Chamber of Commerce has 12 headquarters projects on its list of companies seriously considering the area. Six of this dozen are California-based and three from the Upper Midwest. According to the assistant director of the Dallas Office of Economic Development, "It's definitely a wave. Looking at Dallas and DFW as a whole, I've seen more activity over the last six months than I've seen in years". The Greater Irving-Las Colinas Chamber is working on 72 potential relocation projects of all types and sizes, with 40% of those from out of state.

Growth translates into new jobs and new jobs spur demand for homes. With record low mortgage rates, it's a great time to be a home buyer.

Here are the details for single family homes and condo/townhome sales in selected areas. For a more comprehensive look at any one market, give me a call at my Allie Beth Allman office or on my cell, 214-563-8540. Scroll down for the "Sales by Price Category" info. DOM is short for Days on Market. Median Price pertains to sales occurring in the period(s).

Overall Market (North Texas):
Jun 10 vs 09: Sales down 3%, med price unchanged, DOM 73, down 6%.
YTD 10 vs 09: Sales up 9%, med price up 2%, DOM 76, down 8%.

Uptown, Downtown and Turtle Creek (Condos and Townhomes):
Jun 10 vs 09: Sales up 5%, med price up 5%, DOM 110, up 17%.
YTD 10 vs 09: Sales up 18%, med price up 5%, DOM 104, up 2%.

Highland Park and University Park, Bluffview, Devonshire and Greenway Parks:
Jun 10 vs 09: Sales up 56%, med price down 9%, DOM 122, up 49%.
YTD 10 vs 09: Sales up 66%, med price down 3%, DOM 114, up 12%.

East Dallas (incl M's and Lakewood):
Jun 10 vs 09: Sales unchanged, med price down 2%, DOM 67, down 4%.
YTD 10 vs 09: Sales up 5%, med price up 1%, DOM 67, down 11%.

North Dallas (South of LBJ):
Jun 10 vs 09: Sales up 46%, med price down 5%, DOM 117, up 3%.
YTD 10 vs 09: Sales up 44%, med price unchanged, DOM 119, up 10%.

Far North Dallas (incl Addison and to Park Blvd in Plano):
Jun 10 vs 09: Sales down 12%, med price up 11%, DOM 69, up 3%.
YTD 10 vs 09: Sales up 2%, med price up 3%, DOM 75, unchanged.

Northwest Dallas:
Jun 10 vs 09: Sales up 23%, med price down 15%, DOM 67, down 18%.
YTD 10 vs 09: Sales up 25%, med price down 7%, DOM 67, down 23%.

Northeast Dallas (incl Lake Highlands):
Jun 10 vs 09: Sales down 4%, med price up 4%, DOM 58, down 5%.
YTD 10 vs 09: Sales up 10%, med price up 3%, DOM 60, down 5%.

Plano:
Jun 10 vs 09: Sales down 5%, med price up 11%, DOM 67, up 10%.
YTD 10 vs 09: Sales up 2%, med price up 1%, DOM 63, down 3%.

Frisco:
Jun 10 vs 09: Sales down 6%, med price up 10%, DOM 70, down 8%.
YTD 10 vs 09: Sales up 6%, med price up 2%, DOM 67, down 19%.

Richardson:
Jun 10 vs 09: Sales down 28%, med price up 5%, DOM 58, up 2%.
YTD 10 vs 09: Sales unchanged%, med price up 3%, DOM 50, down 22%.

Southlake:
Jun 10 vs 09: Sales up 13%, med price up 23%, DOM 84, up 4%.
YTD 10 vs 09: Sales up 20%, med price up 3%, DOM 101, up 5%.

Coppell:
Jun 10 vs 09: Sales up 10%, med price down 22%, DOM 47, up 7%.
YTD 10 vs 09: Sales up 6%, med price up 5%, DOM 51, up 4%.

Allen:
Jun 10 vs 09: Sales down 20%, med price up 3%, DOM 55, down 4%.
YTD 10 vs 09: Sales up 16%, med price up 3%, DOM 65, down 17%.

Rockwall (incl Heath):
Jun 10 vs 09: Sales up 6%, med price up 13%, DOM 86, down 8%.
YTD 10 vs 09: Sales up 9%, med price up 6%, DOM 82, down 9%.

Here is a look at Single Family home sales by price category for YTD 2010 vs 2009:

$200-299K (16.7% of sales): up 14%, 7 months inventory

$300-399K (6.7% of sales): up 12%, 11 months inventory

$400-499K (2.8% of sales): up 8%, 13 months inventory

$500-599K (1.3% of sales): up 11%, 15 months inventory

$600-699K (0.9% of sales): up 31%, 17 months inventory

$700-799K (0.5% of sales): up 30%, 20 months inventory

$800-899K (0.4% of sales): up 70%, 16 months inventory

$900-999K (0.2% of sales): down 13%, 31 months inventory

$1MM and up (0.9% of sales): up 34%, 25 months inventory

Here is a look at Condos and Townhomes sales by price category for YTD 2010 vs 2009.

$200-299K (14.5% of sales): 300 units vs 285 units year ago, 13 months inventory

$300-399K (5.4% of sales): 111 units vs 103 units year ago, 20 months

$400-499K (2.2% of sales): 46 units vs 42 units year ago, 22 months

$500-599K (1.2% of sales): 25 units vs 16 units year ago, 25 months

$600-699K (0.6% of sales): 12 units vs 8 units year ago, 24 months

$700-799K (0.2% of sales): 5 units vs 3 units year ago, 53 months

$800-899K (0.2% of sales): 4 units vs 6 units year ago, 40 months

$900-999K (0.1% of sales): 2 units vs 2 units year ago, 51 months

$1MM + (0.8% of sales): 16 units vs 5 units year ago, 23 months

Bob and Knoxie Edmonson

Bob Edmonson
Allie Beth Allman & Assoc.
(214)563-8540

Dallas TX Homefinder Website Dallas TX Home Values Blog --- Dallas TX Homes for Sale, Condos and Real Estate Highland Park Real Estate, University Park Real Estate, Uptown Dallas Real Estate, M-Streets Real Estate

Dallas Home Sales Stats for May

2010-06-17T15:18:00.003-05:00

May was another very good month for home sales throughout the Dallas area, as expected. The 18% increase in sales for Dallas overall reflected the impact of the federal tax credit and the usual bump associated with the Spring Market. There were healthy year-over-year increases in all but two markets I track, Plano and Coppell. All of the submarkets in this report were ahead of last year's volume for the first five months of the year. This three month buying spree as reflected by "closings" will likely continue into June, which is the deadline for closing on those spring contracts. Historically, sales peak in June, with activity tapering off during the summer months. There is no reason to believe 2010 will be different, but mortgage interest rates are expected to continue to hover near or at their historic lows, presenting a great buying opportunity.

In some parts of town, these higher sales numbers were accompanied by higher median prices, including Park Cities, Frisco and Rockwall/Heath. Plano and Coppell, where sales were down vs May 2009, had higher median prices as well. As I have mentioned before, higher median prices mean that more higher priced homes sold during that period vs lower priced homes in those markets, not that home values have risen (or fallen). Overall, for Dallas year-to-date, median sales prices are up 4% for the year, which is quite typical for Dallas. See how Dallas compares on this measure with other cities around the country.

Here are the details for single family homes and condo/townhome sales in selected areas. For a more comprehensive look at any one market, give me a call at my Allie Beth Allman office or on my cell, 214-563-8540. Scroll down for the "Sales by Price Category" info. DOM is short for Days on Market. Median Price pertains to sales occurring in the period(s).

Overall Market (North Texas):
May 10 vs 09: Sales up 18%, med price up 2%, DOM 73, down 8%.
YTD 10 vs 09: Sales up 12%, med price up 4%, DOM 77, down 8%.

Uptown, Downtown and Turtle Creek (Condos and Townhomes):
May 10 vs 09: Sales up 12%, med price up 5%, DOM 118, up 24%.
YTD 10 vs 09: Sales up 24%, med price up 5%, DOM 104, down 1%.

Highland Park and University Park, Bluffview, Devonshire and Greenway Parks:
May 10 vs 09: Sales up 38%, med price up 13%, DOM 124, up 22%.
YTD 10 vs 09: Sales up 73%, med price down 3%, DOM 112, up 3%.

East Dallas (incl M's and Lakewood):
May 10 vs 09: Sales up 22%, med price down 7%, DOM 63, down 11%.
YTD 10 vs 09: Sales up 6%, med price up 9%, DOM 67, down 13%.

North Dallas (South of LBJ):
May 10 vs 09: Sales up 9%, med price down 5%, DOM 102, up 10%.
YTD 10 vs 09: Sales up 46%, med price down 2%, DOM 119, up 12%.

Far North Dallas (incl Addison and to Park Blvd in Plano):
May 10 vs 09: Sales up 32%, med price unchanged, DOM 61, unchanged.
YTD 10 vs 09: Sales up 8%, med price unchanged, DOM 76, down 3%.

Northwest Dallas:
May 10 vs 09: Sales up 13%, med price down 3%, DOM 55, down 30%.
YTD 10 vs 09: Sales up 27%, med price up 1%, DOM 68, down 24%.

Northeast Dallas (incl Lake Highlands):
May 10 vs 09: Sales up 10%, med price down 2%, DOM 61, up 7%.
YTD 10 vs 09: Sales up 14%, med price up 4%, DOM 61, down 5%.

Plano:
May 10 vs 09: Sales down 5%, med price up 2%, DOM 57, up 8%.
YTD 10 vs 09: Sales up 3%, med price down 1%, DOM 62, down 6%.

Frisco:
May 10 vs 09: Sales up 25%, med price up 5%, DOM 56, down 26%.
YTD 10 vs 09: Sales up 8%, med price up 1%, DOM 66, down 23%.

Richardson:
May 10 vs 09: Sales up 10%, med price down 2%, DOM 48, down 8%.
YTD 10 vs 09: Sales up 13%, med price up 3%, DOM 48, down 28%.

Southlake:
May 10 vs 09: Sales up 9%, med price unchanged, DOM 110, down 2%.
YTD 10 vs 09: Sales up 24%, med price down 4%, DOM 108, up 6%.

Coppell:
May 10 vs 09: Sales down 11%, med price up 12%, DOM 49, up 9%.
YTD 10 vs 09: Sales up 5%, med price up 12%, DOM 52, up 2%.

Allen:
May 10 vs 09: Sales up 51%, med price down 8%, DOM 54, down 22%.
YTD 10 vs 09: Sales up 28%, med price up 2%, DOM 66, down 22%.

Rockwall (incl Heath):
May 10 vs 09: Sales up 34%, med price up 8%, DOM 65, down 31%.
YTD 10 vs 09: Sales up 28%, med price up 2%, DOM 66, down 22%.

Here is a look at Single Family home sales by price category for YTD 2010 vs 2009:

$200-299K (16.5% of sales): up 21%, 7 months inventory
$300-399K (6.5% of sales): up 17%, 11 months inventory
$400-499K (2.7% of sales): up 11%, 15 months inventory
$500-599K (1.2% of sales): up 8%, 18 months inventory
$600-699K (0.8% of sales): up 31%, 20 months inventory
$700-799K (0.4% of sales): up 23%, 25 months inventory
$800-899K (0.4% of sales): up 68%, 19 months inventory
$900-999K (0.2% of sales): down 10%, 36 months inventory
$1MM and up (0.9% of sales): up 30%, 28 months inventory

Here is a look at Condos and Townhomes sales by price category for YTD 2010 vs 2009.
$200-299K (13.9% of sales): 230 units vs 223 units year ago, 14 months inventory
$300-399K (5.3% of sales): 88 units vs 82 units year ago, 22 months
$400-499K (2.3% of sales): 38 units vs 32 units year ago, 22 months
$500-599K (1.3% of sales): 21 units vs 13 units year ago, 25 months
$600-699K (0.5% of sales): 8 units vs 3 units year ago, 34 months
$700-799K (0.2% of sales): 4 units vs 3 units year ago, 51 months
$800-899K (0.2% of sales): 3 units vs 5 units year ago, 52 months
$900-999K (0.1% of sales): 2 unit vs 2 units year ago, 45 months
$1MM + (0.9% of sales): 15 units vs 5 units year ago, 35 months
Bob and Knoxie Edmonson

Bob Edmonson
Allie Beth Allman & Assoc.
(214)563-8540

Dallas TX Homefinder Website Dallas TX Home Values Blog --- Dallas TX Homes for Sale, Condos and Real Estate Highland Park Real Estate, University Park Real Estate, Uptown Dallas Real Estate, M-Streets Real Estate

Dallas Home Sales Stats for April

2010-05-31T17:38:00.000-05:00

We had a bit of a buying binge in April, with sales up 27% in Dallas vs year ago, pushing the four month total up 9% vs the first four months of '09. Each of the 14 submarkets I track (below) also recorded gains, with Park Cities and North Dallas more than doubling their sales totals. When could I last say this? It is so much easier talking good news!! The April sales were strong enough to push 12 of these 14 markets into the plus territory for the first four months of the year. Only Far North Dallas (no change) and Rockwall/Heath (-2%) are still catching up. Sales in each price point from the $200's to $1 million and above were higher than year ago, with the exception of single family homes in the $900's. Condos and townhomes in the $600's to $900's still are slow movers, but sales of condos over $1 million have finally come to life.

It is no secret that much of this progress was due to the home purchase tax credit which expired for first-time and repeat home buyers on April 30th. (Congress, cutting taxes actually stimulates the consumer market, but that's another subject). Buyers taking advantage of that credit only had to be under contract by end of April, but it appears many contracted earlier in the spring to close in April. I expect we'll see continued good sales numbers when May results are totalled next week and also good numbers for June. To obtain the tax credit, sales had to close by end of June.

Median sales prices were not as consistent. While up 7% in Dallas overall, and up 5% year-to-date, some markets failed to keep up, notably Park Cities (-11%) and North Dallas (-13%). Those were the two markets where sales had more than doubled, so it looks like some bargain hunting was underway. The best performance year-to-date is in East Dallas (M Streets and Lakewood), with median prices up 22% compared to last year.

Here are the details for single family homes and condo/townhome sales in selected areas. For a more comprehensive look at any one market, give me a call at my Allie Beth Allman office or on my cell, 214-563-8540. Scroll down for the "Sales by Price Category" info. DOM is short for Days on Market. Median Price pertains to sales occurring in the period(s).

Overall Market (North Texas):
Apr 10 vs 09: Sales up 27%, med price up 7%, DOM 74, down 8%.
YTD 10 vs 09: Sales up 9%, med price up 5%, DOM 78, down 8%.

Uptown, Downtown and Turtle Creek (Condos and Townhomes):
Apr 10 vs 09: Sales up 49%, med price down 24%, DOM 98, down 20%.
YTD 10 vs 09: Sales up 30%, med price up 1%, DOM 97, down 12%.

Highland Park and University Park, Bluffview, Devonshire and Greenway Parks:
Apr 10 vs 09: Sales up 127%, med price down 11%, DOM 86, down 18%.
YTD 10 vs 09: Sales up 94%, med price down 9%, DOM 107, down 5%.

East Dallas (incl M's and Lakewood):
Apr 10 vs 09: Sales up 5%, med price up 16%, DOM 61, down 21%.
YTD 10 vs 09: Sales up 2%, med price up 22%, DOM 69, down 13%.

North Dallas (South of LBJ):
Apr 10 vs 09: Sales up 109%, med price down 13%, DOM 130, up 51%.
YTD 10 vs 09: Sales up 68%, med price down 2%, DOM 123, up 10%.

Far North Dallas (incl Addison and to Park Blvd in Plano):
Apr 10 vs 09: Sales up 49%, med price up 4%, DOM 69, down 1%.
YTD 10 vs 09: Sales unchanged, med price unchanged, DOM 81, down 4%.

Northwest Dallas:
Apr 10 vs 09: Sales up 66%, med price up 5%, DOM 48, down 41%.
YTD 10 vs 09: Sales up 35%, med price up 3%, DOM 71, down 24%.

Northeast Dallas (incl Lake Highlands):
Apr 10 vs 09: Sales up 19%, med price up 8%, DOM 44, down 32%.
YTD 10 vs 09: Sales up 19%, med price up 5%, DOM 61, down 12%.

Plano:
Apr 10 vs 09: Sales up 39%, med price down 5%, DOM 54, down 14%.
YTD 10 vs 09: Sales up 6%, med price down 1%, DOM 64, down 10%.

Frisco:
Apr 10 vs 09: Sales up 25%, med price down 4%, DOM 58, down 30%.
YTD 10 vs 09: Sales up 3%, med price down 2%, DOM 69, down 22%.

Richardson:
Apr 10 vs 09: Sales up 67%, med price up 8%, DOM 42, down 29%.
YTD 10 vs 09: Sales up 16%, med price up 8%, DOM 48, down 33%.

Southlake:
Apr 10 vs 09: Sales up 91%, med price down 2%, DOM 66, down 43%.
YTD 10 vs 09: Sales up 34%, med price down 4%, DOM 106, up 10%.

Coppell:
Apr 10 vs 09: Sales up 35%, med price up 35%, DOM 44, down 2%.
YTD 10 vs 09: Sales up 17%, med price up 11%, DOM 54, unchanged.

Allen:
Apr 10 vs 09: Sales up 39%, med price up 5%, DOM 66, down 19%.
YTD 10 vs 09: Sales up 3%, med down 2%, DOM 69, down 22%.

Rockwall (incl Heath):
Apr 10 vs 09: Sales up 13%, med price up 2%, DOM 79, up 10%.
YTD 10 vs 09: Sales down 2%, med price up 4%, DOM 86, down 1%.

Here is a look at Single Family home sales by price category for YTD 2010 vs 2009:

$200-299K (16.1% of sales): up 21%, 8 months inventory

$300-399K (6.4% of sales): up 20%, 11 months inventory

$400-499K (2.6% of sales): up 7%, 15 months inventory

$500-599K (1.1% of sales): up 5%, 20 months inventory

$600-699K (0.8% of sales): up 27%, 21 months inventory

$700-799K (0.5% of sales): up 10%, 27 months inventory

$800-899K (0.4% of sales): up 75%, 22 months inventory

$900-999K (0.2% of sales): unchanged, 36 months inventory

$1MM and up (0.8% of sales): up 31%, 31 months inventory

Here is a look at Condos and Townhomes sales by price category for YTD 2010 vs 2009.

$200-299K (13.0% of sales): 153 units vs 152 units year ago, 18 months inventory

$300-399K (5.2% of sales): 61 units vs 55 units year ago, 25 months

$400-499K (315% of sales): 36 units vs 27 units year ago, 18 months

$500-599K (1.7% of sales): 20 units vs 7 units year ago, 23 months

$600-699K (0.5% of sales): 6 units vs 2 units year ago, 33 months

$700-799K (0.3% of sales): 3 units vs 1 units year ago, 53 months

$800-899K (0.3% of sales): 3 units vs 3 units year ago, 43 months

$900-999K (0.2% of sales): 2 unit vs 2 units year ago, 38 months

$1MM + (0.9% of sales): 11 units vs 3 unit year ago, 38 months

Bob and Knoxie Edmonson

Bob Edmonson
Allie Beth Allman & Associates
(214)563-8540

Dallas TX Homefinder Website Dallas TX Home Values Blog --- Dallas TX Homes for Sale, Condos and Real Estate Highland Park Real Estate, University Park Real Estate, Uptown Dallas Real Estate, M-Streets Real Estate

Dallas Home Sales Statistics for March and the 1st Qtr

2010-04-23T07:02:00.001-05:00

March did indeed build on the positive foundation laid in February for home sales and prices. Home sales versus last March were up 11% for Dallas overall, resulting in a 1% gain for the first quarter versus year ago. It seems like an eternity since we had quarterly results in positive territory! Median sales prices followed suit, with March up 6% overall and first quarter median prices up 3% vs year ago. There is no question that the home buyer tax credit contributed to this wave of buying. As I write this a week before the expiration of this credit, we will see continued strong results for April. Pending sales in April could set a record for the month. The tax credit had income limitations, which tended to benefit homes in the $600K range and lower. The share of market in the $200's, for example, jumped from 14.7% to 15.6% in March, and the months inventory fell from 11 months to 9 months, a big move for one month. Sales in the higher price points moved up as well, with the 56% rise in sales for homes in the $800's representing an increase of 18 home sales, from 32 last year to 50 this year.

The early indications of some upward pressure on interest rates may have also contributed to buyers' decisions to get into the market. Mortgage rates are still terrific, hovering around 5%, with the crystal ball experts predicting a 6% rate by the end of the year. The attached graph illustrates how we appear to be bottoming out on rates after several years of improved mortgage interest costs.

Another reason for the improvement in the real estate market is the improved local economy. The Dallas Fed's latest Beige Book report presents a generally optimistic outlook for our region. Unemployment remains stuck at level higher than it should be, but it may have peaked. Relocations to Texas are on an upswing given our continuted favorable business and tax climate, which is gaining more national attention these days. The attached North Texas Profile from the North Texas Commission offers some quick facts and figures to help tip the decision companies and individuals will make in our favor when considering relocating to our area.

Still a challenge is jumbo financing for the higher end properties, although it is starting to loosen up a bit. Requirements for FICA scores and income are still stringent, with mortgage money available for the best qualified buyer. Lenders are still treading carefully in the jumbo market, as there are very few institutional buyers for the loans. Hopefully this condition will improve as investors gain confidence in the Dallas housing market and overall economic conditions.

Here are the details for single family homes and condo/townhome sales in selected areas. For a more comprehensive look at any one market, give me a call at my Allie Beth Allman office or on my cell, 214-563-8540. Scroll down for the "Sales by Price Category" info. DOM is short for Days on Market. Median Price pertains to sales occurring in the period(s).

Overall Market (North Texas):
Mar 10 vs 09: Sales up 11%, med price up 6%, DOM 79, down 7%.
YTD 10 vs 09: Sales up 1%, med price up 3%, DOM 80, down 8%.

Uptown, Downtown and Turtle Creek (Condos and Townhomes):
Mar 10 vs 09: Sales up 62%, med price up 25%, DOM 92, up 1%.
YTD 10 vs 09: Sales up 25%, med price up 23%, DOM 95, down 10%.

Highland Park and University Park, Bluffview, Devonshire and Greenway Parks:
Mar 10 vs 09: Sales up 122%, med price up 8%, DOM 113, up 10%.
YTD 10 vs 09: Sales up 83%, med price down 7%, DOM 121, up 3%

East Dallas (incl M's and Lakewood):
Mar 10 vs 09: Sales up 17%, med price up 9%, DOM 73, down 6%.
YTD 10 vs 09: Sales up 2%, med price up 23%, DOM 74, down 8%.

North Dallas (South of LBJ):
Mar 10 vs 09: Sales up 56%, med price down 3%, DOM 109, down 6%.
YTD 10 vs 09: Sales up 52%, med price up 12%, DOM 118, down 6%.

Far North Dallas (incl Addison and to Park Blvd in Plano):
Mar 10 vs 09: Sales down 6%, med price down 10%, DOM 76, down 17%.
YTD 10 vs 09: Sales down 15%, med price down 1%, DOM 87, down 2%.

Northwest Dallas:
Mar 10 vs 09: Sales up 89%, med price up 9%, DOM 78, down 21%.
YTD 10 vs 09: Sales up 28%, med price up 2%, DOM 83, down 15%.

Northeast Dallas (incl Lake Highlands):
Mar 10 vs 09: Sales up 45%, med price up 6%, DOM 63, down 9%.
YTD 10 vs 09: Sales up 22%, med price down 3%, DOM 69, down 1%.

Plano:
Mar 10 vs 09: Sales up 4%, med price down 5%, DOM 68, down 3%.
YTD 10 vs 09: Sales down 8%, med price up 1%, DOM 70, down 5%.

Frisco:
Mar 10 vs 09: Sales down 1%, med price up 4%, DOM 76, down 17%.
YTD 10 vs 09: Sales down 9%, med price unchanged, DOM 75, down 18%.

Richardson:
Mar 10 vs 09: Sales down 5%, med price up 11%, DOM 59, down 17%.
YTD 10 vs 09: Sales down 1%, med price up 8%, DOM 51, down 34%.

Southlake:
Mar 10 vs 09: Sales down 10%, med price down 23%, DOM 137, up 33%.
YTD 10 vs 09: Sales up 14%, med price down 7%, DOM 130, up 44%.

Coppell:
Mar 10 vs 09: Sales up 37%, med price up 14%, DOM 66, up 8%.
YTD 10 vs 09: Sales up 9%, med price down 1%, DOM 60, up 2%.

Allen:
Mar 10 vs 09: Sales up 13%, med price up 6%, DOM 68, down 24%.
YTD 10 vs 09: Sales up 13%, med up 7%, DOM 70, down 26%.

Rockwall (incl Heath):
Mar 10 vs 09: Sales down 12%, med price down 2%, DOM 93, up 8%.
YTD 10 vs 09: Sales down 9%, med price up 3%, DOM 92, unchanged.

Here is a look at Single Family home sales by price category for YTD 2010 vs 2009:

$200-299K (15.6% of sales): up 7%, 9 months inventory

$300-399K (6.3% of sales): up 10%, 13 months inventory

$400-499K (2.5% of sales): down 3%, 17 months inventory

$500-599K (1.2% of sales): up 3%, 21 months inventory

$600-699K (0.7% of sales): up 23%, 24 months inventory

$700-799K (0.5% of sales): up 5%, 26 months inventory

$800-899K (0.4% of sales): up 56%, 25 months inventory

$900-999K (0.2% of sales): down 4%, 36 months inventory

$1MM and up (0.9% of sales): up 23%, 33 months inventory

Here is a look at Condos and Townhomes sales by price category for YTD 2010 vs 2009.

$200-299K (13.2% of sales): 102 units vs 104 units year ago, 22 months inventory

$300-399K (5.2% of sales): 40 units vs 37 units year ago, 28 months

$400-499K (3.5% of sales): 27 units vs 20 units year ago, 18 months

$500-599K (1.7% of sales): 13 units vs 5 units year ago, 28 months

$600-699K (0.8% of sales): 6 units vs 2 units year ago, 26 months

$700-799K (0.0% of sales): 0 units vs 0 units year ago, n/a months

$800-899K (0.4% of sales): 3 units vs 0 units year ago, 28 months

$900-999K (0.1% of sales): 1 unit vs 2 units year ago, 66 months

$1MM + (1.2% of sales): 9 units vs 1 unit year ago, 38 months

Bob and Knoxie Edmonson
Allie Beth Allman & Associates
(214)563-8540

Dallas TX Homefinder Website Dallas TX Home Values Blog --- Dallas TX Homes for Sale, Condos and Real Estate Highland Park Real Estate, University Park Real Estate, Uptown Dallas Real Estate, M-Streets Real Estate

Dallas Home Sales Stats for February

2010-03-12T10:34:00.012-06:00

Despite the snowiest February on record, we still managed to sell 4,248 homes in the Dallas area. This total was still 5% below last February's total, a little disappointing given that last year the aftershocks of the financial meltdown were still cascading through the economy. January sales were also off 5% from the previous year, but in both months this year, the overall median prices were up 1% vs year ago, which is encouraging and confirms the housing market has stabilized and is on the rebound. Most interesting about February's results is that half of the submarkets I track posted year-to-date sales increases and more than half posted healthy median price gains.

North Dallas (south of LBJ) is on a tear, with a second strong month, showing sales up 51% and median prices up 25% over year-ago numbers. Southlake is doing well, with year-to-date sales up 36% and median prices up 15%. Allen is up 10% in homes sold and 3% in median prices. Uptown/Oak Lawn is also in plus territory for both sales and median prices. Park Cities Area, which includes some neighborhoods in the City of Dallas and in DISD, posted a 60% increase in sales through February, but the median sales price was down 20% year-to-date. All of that decrease was in January, as the February median price figure in Park Cities Area was up 22% vs year ago.

What this looks like to me is that our housing market is pulling ahead, with some markets out front and others soon to catch up. The Texas Economic Forecast issued by Wells Fargo in February supports this notion as well, with generally favorable economic and housing projections for not only the Dallas area but the other major metros as well. Also excellent reading is the Dallas Fed's Southwest Report, speaking to Texas' economic picture at the approaching 1st Q mark.

From snow to now the blooming Bradford Pear trees, we're entering the strongest sales period of the year, historically speaking. Soon we should know if this is a false start or the beginning of a positive trend for all the submarkets. And, as of this writing, we are 45 days from the deadline for claiming house purchase credits for certain qualified buyers.

So, I will be looking for more gains!

Here are the details for single family homes and condo/townhome sales in selected areas. For a more comprehensive look at any one market, give me a call at my Allie Beth Allman office or on my cell, 214-563-8540. Scroll down for the "Sales by Price Category" info. DOM is short for Days on Market. Median Price pertains to sales occurring in the period(s).

Overall Market (North Texas):
Feb 10 vs 09: Sales down 5%, med price up 1%, DOM 79, down 12%.
YTD 10 vs 09: Sales down 5%, med price up 1%, DOM 81, down 8%.

Uptown, Downtown and Turtle Creek (Condos and Townhomes):
Feb 10 vs 09: Sales down 21%, med price up 43%, DOM 102, up 17%.
YTD 10 vs 09: Sales up 1%, med price up 22%, DOM 100, down 12%.

Highland Park and University Park, Bluffview, Devonshire and Greenway Parks:
Feb 10 vs 09: Sales up 82%, med price up 22%, DOM 117, up 5%.
YTD 10 vs 09: Sales up 60%, med price down 20%, DOM 126, down 1%.

East Dallas (incl M's and Lakewood):
Feb 10 vs 09: Sales up 4%, med price up 24%, DOM 77, down 3%.
YTD 10 vs 09: Sales down 7%, med price up 27%, DOM 72, down 11%.

North Dallas (South of LBJ):
Feb 10 vs 09: Sales up 35%, med price up 38%, DOM 152, up 29%.
YTD 10 vs 09: Sales up 51%, med price up 25%, DOM 132, down 1%.

Far North Dallas (incl Addison and to Park Blvd in Plano):
Feb 10 vs 09: Sales down 26%, med price up 5%, DOM 94, unchanged.
YTD 10 vs 09: Sales down 20%, med price up 9%, DOM 98, up 14%.

Northwest Dallas:
Feb 10 vs 09: Sales up 19%, med price down 37%, DOM 87, down 16%.
YTD 10 vs 09: Sales down 4%, med price down 11%, DOM 87, down 11%.

Northeast Dallas (incl Lake Highlands):
Feb 10 vs 09: Sales up 26%, med price down 7%, DOM 64, down 22%.
YTD 10 vs 09: Sales up 11%, med price down 2%, DOM 76, up 7%.

Plano:
Feb 10 vs 09: Sales unchanged, med price down 2%, DOM 68, down 9%.
YTD 10 vs 09: Sales down 12%, med price up 2%, DOM 71, down 7%.

Frisco:
Feb 10 vs 09: Sales down 21%, med price down 13%, DOM 65, down 34%.
YTD 10 vs 09: Sales down 16%, med price down 5%, DOM 73, down 19%.

Richardson:
Feb 10 vs 09: Sales up 11%, med price down 1%, DOM 48, down 38%.
YTD 10 vs 09: Sales up 4%, med price up 4%, DOM 46, down 44%.

Southlake:
Feb 10 vs 09: Sales down 6%, med price up 8%, DOM 140, up 69%.
YTD 10 vs 09: Sales up 36%, med price up 15%, DOM 136, up 62%.

Coppell:
Feb 10 vs 09: Sales up 32%, med price down 8%, DOM 60, unchanged.
YTD 10 vs 09: Sales down 5%, med price down 9%, DOM 55, down 5%.

Allen:
Feb 10 vs 09: Sales up 19%, med price up 8%, DOM 71, down 29%.
YTD 10 vs 09: Sales up 10%, med up 3%, DOM 69, down 30%.

Rockwall (incl Heath):
Feb 10 vs 09: Sales down 18%, med price up 11%, DOM 88, down 15%.
YTD 10 vs 09: Sales down 9%, med price up 7%, DOM 92, down 6%.

Here is a look at Single Family home sales by price category for YTD 2010 vs 2009:
$200-299K (14.7% of sales): down 4%, 11 months inventory
$300-399K (6.0% of sales): down 1%, 15 months inventory
$400-499K (2.4% of sales): down 12%, 20 months inventory
$500-599K (1.3% of sales): up 3%, 22 months inventory
$600-699K (0.8% of sales): up 33%, 25 months inventory
$700-799K (0.4% of sales): down 11%, 32 months inventory
$800-899K (0.3% of sales): up 21%, 32 months inventory
$900-999K (0.2% of sales): down 19%, 33 months inventory
$1MM and up (0.8% of sales): up 22%, 40 months inventory

Here is a look at Condos and Townhomes sales by price category for YTD 2010 vs 2009:
$200-299K (11.6% of sales): 48 units vs 63 units year ago, 28 months inventory
$300-399K (5.1% of sales): 21 units vs 27 units year ago, 36 months
$400-499K (3.4% of sales): 14 units vs 10 units year ago, 24 months
$500-599K (0.7% of sales): 3 units vs 2 units year ago, 77 months
$600-699K (1.0% of sales): 4 units vs 4 units year ago, 24 months
$700-799K (0.0% of sales): 0 units vs 0 units year ago, n/a months
$800-899K (0.0% of sales): 0 units vs 0 units year ago, n/a months
$900-999K (0.2% of sales): 1 unit vs 0 units year ago, 50 months
$1MM + (1.7% of sales): 7 units vs 1 unit year ago, 31 months
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Bob Edmonson
Allie Beth Allman and Assoc.
(214)563-8540
Dallas TX Homefinder Website
Dallas TX Home Values Blog
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Dallas TX Homes for Sale, Condos and Real Estate
Highland Park Real Estate, University Park Real Estate,
Uptown Dallas Real Estate, M-Streets Real Estate