Interested in the northwest Dallas suburbs real estate market? |
Each month I post on this Market Watch page an analysis of residential real estate market conditions in the northwest Dallas suburbs of Southlake, Colleyville, Flower Mound, Keller, west Plano, southwest Frisco, Coppell, Highland Village, Grapevine, Argyle, Westlake and Trophy Club. |
Home sales / homes listed for sale |
 The northwest Dallas suburbs experienced a 14.3 percent drop in the number of previously occupied, single family homes sold during June. During June last year, 748 such homes were sold. This year, sales of only 641 homes have been reported. June is the thirteenth month, out the past fourteen, that fewer previously occupied homes were sold than during the same month the previous year in this area. On average, about 2,590 previously occupied homes were listed for sale during June 2008. This is 5.3 percent increase over the average 2,460 homes listed for sale during June a year ago. |
Home values appreciation |
 Compared to same month, previous year sales, prices of northwest Dallas suburbs previously occupied homes sold during June increased, on average, by .2 percent. The average price of homes in the lower two price segments both moved into positive territory. Homes selling for less than $200,000 were priced on average 1.5 percent higher than a year ago and the price of homes selling for between $200,000 and $299,999 increased by .2 percent. On the other hand, homes in the middle and two upper price segments were sold for slightly less, on average, than they would have a year ago. The average price of homes selling for $300,000 to $399,999 was down .5 percent and the average price of homes selling for $400,000 to $499,999 was down .2 percent. Homes selling for more than $500,000 were sold, on average, at prices that were .3 percent less than a year ago. |
Average home prices |
 The average square foot price of a typical $250,000 home sold during the three months ending in June was $93.60. The average square foot price of a typical $350,000 home sold was $105.83, and the average price per square foot of the typical $450,000 home was $121.38. |
Supply of homes for sale |
 The supply of previously occupied homes listed for sale dropped to 4.0 months of sales in June from the 4.6 months supply available during May, a 13.0 percent decrease. However, this supply of homes also was 22.9 percent higher than the 3.3 months supply of homes listed during June last year. |
Average days on market |
 Homes selling during June remained on the market for an average of 60 days, down 3.2 percent from the average 62 days required to sell a home during May, but up 41.7 percent from the average 43 days needed during June last year. |
Median sales price |
 The median price of previously occupied northwest Dallas suburban homes sold during June was $305,000, down 3.6 percent from the $316,500 median price of a year ago. |
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Source: North Texas Real Estate Information Systems Inc. |
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Southlake | Colleyville | Flower Mound | Keller | W Plano | SW Frisco | Westlake | Coppell | Highland Village | Grapevine | Trophy Club |
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©2006-2008 Dave Downs. All rights reserved. |
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