Dallas Area Residential Sales by Price Ranges

Those of you that follow this blog regularly know that I report on the monthly sales of residential properties in the Dallas area plus sales reports covering Far North Dallas, Richardson, Lake Highlands, Plano, Allen, McKinney, Frisco, Carrollton/Farmers Branch, Garland, and Wylie. While sales, average sales prices, active listings, etc., give you an overview of the market, they do not tell you what is going on with different price ranges within the overall market. So today I am added a report that I will be publishing each month looking at what’s happening within different price ranges in the Dallas area.

$99,999 and below: Sales in this price range have been showing declining numbers for over a year. Months of inventory is around 2.5 months. Buyers face heavy competition from investors.

$100,000 to $159,999: Sales in this price range are also down year over year and have been for a number of months. This is mainly due to the extreme shortage of homes for sale, The months of inventory is about 1.2 months. Buyers and investors are competing heavily in this price range.

$160,000 to $199,999: This range is seeing positive sales numbers with sales up round 12%. Supply is very low and the months of supply number is about 1.1 months. Demand is heavy both from buyers and investors.

$200,000 to $399,000: This is the range with the largest number of sales. 43.3% of all sales are in this category. Sales are up an average of 19%. Supply is 1.5 months.

$400,000 to 599,999: This range represents 10% of the total sales, Sales are up about 22% year over year.  Inventory stands at 4.5 months. While this number is much better for buyers, it still falls to the sellers side of being a balanced market;

$600,000 to $699,999: This is a tight range but I am putting it in because it’s months of inventory is 5.9 months which is very close to the 6 months that is considered a balanced market. Sales were up 15% and this category represents 2% of the sales.

$700,000 to $899,000: Sales were up 8.3%. The months of inventory is 7.3 months. Supply is tilted to the Buyer’s side.

$900,000 to $999,999: The months of inventory jumps to 9 months. Getting much more favoring the buyer. Sales increased 9%.

$1,000,000 and more:  This range is leaning hard to the buyer side, Months of inventory is at 11.9 months. Almost twice the 6 month balanced supply number. Sales continue to do well up 7%.

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