Single_Family:

Sales in the Far north Dallas Area were up by 10% in May. The average sales price increased by 11% while the median sales price rose 8%. Pending sales fell by 2%. The number of new listings declined by 18% and the active listings by 7%. The months of Inventory now stands at 1.8 months.

Everything is about inventory. Until we start to see an increase in the number of homes on the market, prices will continue to rise and buyers will have a difficult time finding a home to purchase. It really is Economics 101 Supply/Demand not a bubble.

Sales: 138

Average Sales Price: $472,090

Median Sales Price: $379,950

Pending Sales: 100

New Listings: 158

Active Listings: 187

Months of Inventory: 1.8

Condos and Townhouses:

Condo and Townhouse sales were off sharply. Down by 23%. The average sales price dropped by 16% while the median sales price increases by 8%. These variants are caused by the distribution of sales up and down the price ranges. Pending sales fell by 27%. the number of new listings declined by 26% while the active listings fell off a cliff down 45%. the months of inventory is now at 0.8 months.

If you are a condo or townhouse buyer in the Far North Dallas area, you are really going to have a hard time finding something to purchase.

Sales: 48

Average Sales: Price: $136,642

Median Sales Price: $128,500

Pending Sales: 43

New Listings: 46

Active listings: 36

Months of Inventory: 0.8

Leases:

Leases declined by 48%. The average rent increases by 6%  and the median rent fell by 4%.

Pending leases were up by 12%. The new listings fell by 3% while the active listings took a 21% nose dive. the months of inventory dropped to 1.8 months.

Leases: 33

Average Rent: $1,709

Median Rent: $1,540

Pending Leases: 19

New Listings: 64

Active Listings: 67

Months of inventory: 1.8
Information provided  by The Real Estate Center at Texas A&M.