Single-Family:

Sales were up a strong 36% in The Lake Highlands/NE Dallas Area in June. The average sales price increased by 7% while the median price rose 9%. As in other areas the sales are concentrated in the upper price ranges.

Pending sales  took a drop of 21%. The number of new listings increased by 13% and the active listings  by 7%. this increased the months of inventory to 2.1 months. Still a very short supply.

Sales: 83

Average Sales Price: $344,708

Median Sales Price: $329,000

Pending Sales: 59

New Listings: 105

Active Listings: 132

Months of Inventory: 2.1

Condos and Townhomes:

Condo and townhome sales were up by 17%. The average and median sales prices jumped 61% and 161% respectively. These huge increases are due to several sales in the upper price ranges pulling the averages up. Also, investors have purchased a lot of the lower end condo units to use as rental properties and the supply of lower price ranges units are dwindling.

Pending sales increased a hefty 100%. The number of new listings was flat while the active listings declined by 49%. The months of inventory dropped to 1.7 months.

Sales: 28

Average Sales Price: $104,123

Median Sales Price: $102,800

Pending Sales: 46

New Listings: 32

Active Listings: 43

Months of Inventory: 1.7

Leasing:

Leasing activity was down by 16% in June. The average  and median rents fell by 20%. Looks like there was a lot of leasing of condos in the lower price ranges. Pending leases jumped by 200%. The new listings fell by 35% and the active listings by 48%. The months of inventory fell to.9 months. difficult to find something to lease in this area.

Leases: 27

Average Rent: $1,214

Median Rent: $1,100

Pending Leases:20

New Listings: 277

Active Listings: 26

Months of Inventory: 0.9

Information provided by The Real Estate Center at Texas A&M.