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The Dallas real estate market continues to be a Sellers' Market. Inventory remains low in most areas of Dallas. Low inventory has been a factor in the decreased number of home sales in some neighborhoods. The Dallas real estate market is local, down to the specific neighborhood or street within a neighborhood.
Low inventory continues to impact the number of listings that receive multiple offers. Sellers should discuss multiple offers with their Realtor prior to putting their home on the market. It is important for Buyers to see homes as soon as they come on the market when possible. Buyers should be pre-approved with their lender of choice and prepared to submit an offer ASAP when they see a house that satisfies their wants and needs.
Listing volume, in my real estate office, is up 18% over 2013 and our closed volume is up 23% over the same time last year. Activity remains strong in the fourth quarter of the year.
Please scroll down to find to find information on a specific area of Dallas.
YEAR TO DATE STATISTICS THROUGH OCTOBER 31, 2014
EAST DALLAS
Year to date sales: 1973
Down 11% from 2013
Average sales price: $333,687
Up 11% from 2013
Average days on market: 38
Down 16% from 2013
Current Months of inventory: 3.0
Down 16% from 2013
NORTH DALLAS
Year to date sales: 618
Down 18% from 2013
Average sales price: $1,024,267
Up 25% from 2013
Average days on market: 72
Up 16% from 2013
Current Months of inventory: 4.3
Up 3% from 2013
FAR NORTH DALLAS
Year to date sales: 1046
Down 12% from 2013
Average sales price: $402,932
Up 9% from 2013
Average days on market: 35
Down 30% from 2013
Current Months of inventory: 2.1
Down 6% from 2013
NORTHEAST DALLAS
Year to date sales: 665
Down 2% from 2013
Average sales price: $314,688
Up 10% from 2013
Average days on market: 36
Down 16% from 2013
Current Months of inventory: 2.0
Down 3% from 2013
NORTHWEST DALLAS
Year to date sales: 629
Up 3% from 2013
Average sales price: $302,624
Up 12% from 2013
Average days on market: 40
Down 18% from 2013
Current Months of inventory: 2.0
Down 13% from 2013
PARK CITIES - HIGHLAND PARK and UNIVERSITY PARK
Year to date sales: 594
Down 11% from 2013
Average sales price: $1,286,885
Up 7% from 2013
Average days on market: 56
Down 3% 2013
Current Months of inventory: 4.1
Up 10% from 2013
The above statistics are based on information compiled by the North Texas Real Estate Information System.
There are micro markets within each of the above referenced markets. In addition, market statistics adjust each time a home sells.
Please contact me for specific information about your home or to learn about the many neighborhoods in Dallas!
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