Plano Texas Real Estate Blog - Local Plano Real Estate.

Area	Sales	% Change Year Ago	Dollar Volume	% Change Year Ago	Average Price	% Change Year Ago	Median Price	% Change Year Ago
Far North Dallas	99	5%	$35,641,188	7%	$360,012	1%	$241,000	-12%
Dallas North	43	-19%	$40,794,616	-9%	$948,712	12%	$565,000	3%
East Dallas	194	0%	$42,823,366	1%	$220,739	1%	$177,510	-5%
Oak Lawn	13	160%	$3,031,262	96%	$233,174	-24%	$149,950	-49%
Plano	273	-22%	$76,351,002	-18%	$279,674	5%	$221,500	4%
Park Cities	49	-17%	$53,190,823	-1%	$1,085,527	19%	$882,000	18%
Frisco	182	-22%	$54,358,304	-14%	$298,672	9%	$288510	2%

Recap: The Dallas metro as a whole for sales of single family homes for the month of Nov. was down -7% from last year, dollar volume was down -8% from last year and average price was the same as a year ago. Dallas is doing OK, foreclosures are still an issue as it is around the nation. Note: Year ago figures we are up 3% in properties sold.

Observations:

• It is much worse in other markets, on the east and west coasts that are down 40% or more.

• The market is adjusting here, you are finding more luxury homes that builders have built and need to sell.
  
• If you are looking in the $700K-$1M+ range, there is a current supply of 15.8 supply and many amenities and areas to chose from.
  
• Builders will make deals to close out inventory by the end of the year.

Sellers across the board are adjusting prices for the market, properties that have been sitting for a while more than 60 days need to take a price cut, that is a no brainier. You will make better deals in the slower months of Real Estate than when spring comes around because there is less competition and less buyers.


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