MLS Market Summary for Dallas Neighborhoods
Today in the Dallas Morning News on the front page of the business section is the title.
Dallas - FW housing sales fall 5%, big bold and only part of the picture, compared to the rest of the nation where in some areas 30-40% declines are looming. We should feel lucky we are in a normal, healthy, not an out of control market. We are a state to watch for 2007, high growth potential and people are moving here...look closely at year to date numbers below.
Overall North Texas Market:
Dec 06 for Single Family: Sales down 5% from year ago, Dollar volume down 4% from year ago, Average price up 2% from a year ago.
YTD for Single Family: Sales up 3% from year ago, Dollar Volume up 7% from year ago, Average price up 3% from year ago. Pending Sales are up 6% from year ago, New listings up 6% from year ago & Active listings up 7% from year ago.
Year-to Date Sales Closed by Area for: December 2006 - Single Family - Part I
Far North Dallas- north of LBJ
Sales up 1% from year ago, Dollar volume up 8% from year ago, Average price up 7% from year ago.
North Dallas-south of LBJ (Preston hollow)
Sales down 12% from year ago, Dollar volume flat from year ago, Average price up 13% from year ago.
Park Cities Area
Sales down 8% from year ago, Dollar volume up 8% from year ago, Average price up 17% from year ago.
Plano Area
Sales down 5% from year ago, Dollar volume down 5% from year ago, Average price flat from year ago.
Lakewood-M Street Area
Sales down 2% from year ago, Dollar volume up 6% from year ago, Average price up 8% year ago.
Uptown-Oak lawn- Condos & Townhomes
Sales up 4% from year ago, Dollar volume up 6% year ago, Average price up 2% year ago.
Year-to Date Sales Closed by Area for: December 2006 - Single Family - Part II
Far North Dallas- north of LBJ
Price per sq ft up 4% from year ago, Sold to list price flat from year ago, Days on market 7% from year ago.
North Dallas-south of LBJ (Preston hollow)
Price per sq ft up 11% from year ago, Sold to list price up 1% from year ago, Days on market down 9% from year ago.
Park Cities Area
Price per sq ft up 13% from year ago, Sold to list price flat from year ago, Days on market up 2% from year ago.
Plano Area
Price per sq ft up 2% from year ago, Sold to list price flat from year ago, Days on market down 6% from year ago.
Lakewood-M Street Area
Price per sq ft up 5% from year ago, Sold to list price flat from year ago, Days on market down 2% from year ago.
Uptown-Oak lawn- Condos & Townhomes
Price per sq ft up 5% from year ago, Sold to list price flat from year ago, Days on market down 5% from year ago.
Year-to Date Sales Closed by Area for: December 2006 - Single Family - Part III
Far North Dallas- north of LBJ
Pending sales flat from year ago, New listings flat from year ago, Active listings up 3% from year ago,
Months Inventory up 2% year ago.
North Dallas-south of LBJ (Preston hollow)
Pending sales down 9% from year ago, New listings up 3% from year ago, Active listings up 6% from year ago, Months Inventory up 21% year ago.
Park Cities Area
Pending sales down 8% from year ago, New listings up 5% from year ago, Active listings up 12% from year ago, Months Inventory up 21% year ago.
Plano Area
Pending sales down 3% from year ago, New listings up 3% from year ago, Active listings down 4% from year ago, Months Inventory up 1% year ago.
Lakewood-M Street Area
Pending sales down 4% from year ago, New listings flat from year ago, Active listings down 3% from year ago, Months Inventory up 5% year ago.
Uptown-Oak lawn- Condos & Townhomes
Pending sales down 12% from year ago, New listings up 10% from year ago, Active listings up 17% from year ago, Months Inventory up 12% year ago.
My take on this is although sales units are down prices are holding and areas in demand have a lot of new building inventory that is sitting and needs to move, overall inventory levels are still lower than two years ago. Most declines are in homes priced under $150K. Pending homes sales are running 6% ahead of last year. January and February are slower months, but inventory is good to pick from. Interesting to note that homes $1 million and more sales are up 18% from a year ago with a 14.9 Months Inventory. We are adjusting here but far better off then other parts of the country.
We are happy and healthy here, Come on down!
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