Dallas Area Sales Activity Report for July

The Real Estate Center at Texas A&M is out today with their July Activity Report for North Texas and it does not paint a pretty picture.

Single family sales were down compared to a year ago by 29%. The average sales price was up by 11% and the median sales price was up by 1%. Before you get to excited about those increases you need to ask yourself How prices can be going up while sales are going down. Well, the answer is they can't. What's happened is that there were fewer sales at the lower end of the range. This pulled the averages up. 

The number of new listings increased by 2 % while the number of active listings shot up by 15%.

The problem going forward is the drop of 20% in the pending sales number. This is not a good omen for August.

Before you get discouraged, Houses that are priced correctly for their condition are still selling and of course, just like politics, all real estate is local and that means down to the individual neighborhood.

If you really want to know what's happening in the neighborhood that you live in or want to buy a house in, you need the services of a good Realtor who is familiar with the area.

Over the next couple of days, I will post sales information for Far North Dallas, Richardson and Plano.

If you would like to know how other areas of the City of Dallas and it's surrounding Cities did in July, just send me an email and I would be happy to share that information with you.