North Dallas/Richardson/Plano Real Estate

Sales of single family homes were up 5% in December compared to last December. The average sales price declined by 4%. The number of new listings dropped 25% bring down the number of active listing by 23%. We now have a 5.1 months supply of homes for sale. Pending sales were up by 4%.

Sales numbers for the year of 2011 show sales to be flat as were the average and median sales prices.

The condo and townhouse markets were down by 8% in December and the average sales price fell by 8%. The number of active listings continued there decline off by 28%. For 2011 condo and townhouse sales were down by 1% and the average sales price declined by 5%.

The rental market remained strong with rentals up by 5% in December and the average rental rate was up by 3%. For the year rentals were up by 12% with an average rental rate up by 6%. The demand for rental units remains very strong.

The single family market remains fragmented with most of the sales below $80,000 or above $200,000. The in between price ranges that represent most of the first time homes buyers continue to show declining sales and average sales prices.  

Hurray! We got the first positive monthly report in a very long time.

Sales were up by a strong 18% in July. The average sales price was down by 4% and the median sales price was also down by 1%. It look to me that the declines in the sales price was due some drop off of sales in the high-end areas combined with investors picking up more properties at the low end and everything else in between being flat.

The number of new listings declined by 17% helping bring down the number of active listings by 14%.

The pending sales number is was up by 13%. Positive for next month.

Condo and townhouse sales rebounded very nicely in July and were up by 38%. the average sales price declined by 9%. Pending condo and townhome sales were up by 29%

The rental market remains very strong. For July rentals were up by 6 % and the average rent increased by 4 %.

If you are looking for a rental, there is less than a 2 month supply to choose from. Consider buying a house. With the increases in rents, the current house prices and very low interest rates it costs less money to own than rent. 

Sales : 6,079

Average Sales Price: $203,723

Median Sales Price: $153,000

New Listings: 9,658

Active Listings: 36,733

Pending Sales: 5,521

Months of Inventory: 6.9

Sales were off by 15% from May of last year. The average sales price was up by 5% while the median sales price remained flat. We are still seeing more sales in the upper price ranges but this may be about to change.

The number of new listings was down by 3% and the number of active listings declined by 4%.

Months of inventory remains high at 7.8 months.

NOW FOR THE GOOD NEWS!

Pending sales jumped a whopping 35% in May. If these pending sales hold we should have a positive report next month.

Also in the May report there were pockets of positive sales. North Dallas, The Lake Highlands area, Plano, Richardson, and Highland Park all showed upticks in sales.

The far suburbs remained in negative numbers for May but have strong pending sales numbers boding well for these areas in next months report.

Sales: 6.224

Average Sales Price: $205,341

Median Sales Price: $150,000

New Listings: 10,314

Active Listings: 37,790

Pending Sales: 6,003

Richardson sales were much better than the Dallas/ Ft.Worth area in April. Sales were only down by 2%. There was a drop if 3% in the average sales price and a decline of 9% in the median sales price but these drops appear to be due to more sales in the lower price ranges indicating more first time buyers in the market.

The number of new listings declined by 16% but the number of active listings climbed by 13%. The months of inventory now stands at 5.8 months and is one of the lowest in the area.

The number of pending sales was flat and this is really good news for next months sales.

Sales: 89

Average Sales Price: $168,304

Median Sales Price: $152,500

New Listings: 160

Active Listings: 383

Months of Inventory: 5.8

Pending Sales: 94

Sales were down by 38% in Far North Dallas in April. The average sales price was up by 13% and the median sales price increased by 7% as sales continue to be concentrated in the upper price ranges above $500,000.

The number of new listings declined by 5% while the number of active listings increased by 6%. At current absorption rates there is a 9 month supply on the market.

The pending sales number declined by 38%.

Sales: 62

Average Sales Price: $339,949

Median Sales Price: $284,500

New Listings: 178

Active Listings: 575

Months of Inventory: 9

Pending Sales: 60

Sales of single family homes in AApril declined by 20% when compared to a year ago. The average sales price rose by 6% while the median sales price dropped by 1%.

The number of new listings declined by 19% but even with that sharp drop we still have 2% more active listings than this time last year. Over all in the Dallas/ Ft. Worth market we have an 8.4 month supply of homes on the market at current absorption rates.

Pending sales were off sharply being down by 26%.

The only price ranges showing an increase in sales are those above $500,000.

The rental market continues to remain strong with rentals up 8% and only a 45 day average time on the market. The average rent is up by 7% over last year.

If you are trying to decide if you should buy or rent, just go out to the web and checkout any rent Vs. buy calculator you want to use and you will find that you are better off buying than renting.

 Sales: 5,766

Average Sales Price: $203,046

Median Sales Price: $147,000

New Listings: 11,111

Active Listings: 37,653

Pending Sales: 5,764

Unfortunately sales dropped back into negative territory in March from gains in February. Sales were down by 17%. We continue to see increases in the average and median sales prices which were up by 7% and 4% respectively. These increases continue to be caused by a larger number of sales in the upper price ranges pulling up the average.

The number of new listings declined by 11%. The active listings climbed by 16%. The months of inventory currently standing at 5.3 months is one of the lowest in the area.

Pricing is crittical in this market. Homes that are priced correctly for their condition are selling. Over-priced homes are just sitting on the market.

The number of pending sales was down by 8%.

There has been an increase in the number of buyers out looking. Time will only tell if these buyers are serious about purchasing.

Sales: 57

Average Sales Price: $191,946

Median Sales Price: $177,000

New Listings: 161

Active Listings: 357

Months of Inventory: 5.3

Pending Sales: 67

Far North Dallas continues to be one of the few bright spots. Sales were up 14% in March. The average sales price increased by 6% while the median sales price  was up by 9%.

The larger homes are still bucking the trend and especially those above $400,000.

The number of new listings declined by 9% but the number of active listings climbed by 3%.

We still have an over supply with the months of inventory standing at 7.7 months.

There was a drop of 13% in the pending sales numbers so we will have to watch for a potential drop in sales next month.

Leasing activity remains strong as a number of people are renting instead of buying. In March average rents increased by 4% to $1706. Renters do not have much to choose from with only a 2.3 months supply on the market.

Sales: 75

Average Sales Price: $289,914

Median Sales Price: $270,000

New Listings: 206

Active Listings: 524

Pending sales: 62

Months of Inventory: 7.7

Sales continued in the dumps for March. Down 15%. The average sales price remains positive being up 8% but this increase, as in previous months, is causes by larger than normal sales in the $400,00 to $900,00 price range. All other price ranges show declines in sales. The median sales price declined by 2%.

The number of new listings declined by 11% helping to keep the active listings flat.

The pending sales number was down by 13%.

The number of homes being shown has picked up. Now if these potential buyers just turn out to be real buyers maybe next month I'll have some positive news to report.

Rentals remain strong up by 20% as people continue the trend of renting instead of buying. The number of homes being rented is out stripping the supply allowing landlords to raise rents.

If you are trying to decide if you should rent or buy, go out to any of the buy verses rent calculators on the web and check it out. I think that in the vast majority of cases you will find that it is better to buy than rent.

Sales: 5,286

Average Sales Price: $197,980

Median Sales Price: $140,000

New Listings: 12,068

Active Listings: 36,828

Pending Sales: 5,905

Richardson bucked the trend this month and saw a 12% increase in sales. The average sales price increased by 18% while the median sales price increased by 1%. These increases as in past months are caused by higher than normal sales in the upper price ranges. The first time buyers who traditionally buy in the lower price ranges are still out of the market.

The number of new listings dropped by 37%. The number of active listings increased by 26%. This percentage increase in the active listings is a little misleading because in February of 2010 the active listings in Richardson was very low. The simple fact is there are only 338 homes for sale spread across all the price ranges and all of the area. In any given neighborhood you will not find many homes for sale.

The months of inventory now stands a 5 months. This is second lowest in the area.

Pending Sales continue to lag down by 25%.

Sales: 57

Average Sales Price: $184,834

Median Sales Price: $161,900

New Listings: 80

Active Listings: 336

Months of Inventory: 5

Pending Sales: 41