For purposes of this report North Dallas in broken down into two sections.
North Dallas north of Northwest Hwy. and south of LBJ
This area of Dallas contiunes to experience difficutlies. The high end market is very slow. At the end of July there was an 18.7 month supply of homes on the market. This is a very high number.
Sales were off by 31% in July and the average price declined by 16% while the median price declined by 29%. This is just another indicator of the problems effecting the upper end market.
Pending sales declined by 31% which will not help August closed sales.
Sales: 50
Average Sales Price: $842,270
Median Sales Price: $530,000
Pending Sales: 29
New Listings: 110
Active Listings: 683
Months of Inventory: 18.7
North Dallas North of LBJ
Sales in this area of North Dallas were up by 27% and we saw a 1% increase in both the average and median sales prices. Pending sales also showed a sharp increase of 21%. The number of active listings contracted by 13% leaving us with an inventory of 6.5 month.
Sales: 117
Average Slaes Price: $326,127
Median Sales Price: $275,000
Pending Sales: 80
Active Listings: 490
Months of Inventory: 6.5
