Dallas Homes Center

Park Cities are the two sister cities with two different zip codes.
Take a look at median price for each city and then the inventory.
This goes back a year to get your bearings.

Reports are done on a 7 and 90 day rolling average and updated
each week. Prices are heading higher based on 7 day average.

Yikes! Inventory is about 30% higher. Jury is out on whether
it will have a downward affect on pricing. Looks like inventory
is leveling off. Now University Park - 75225

Pricing has definitely become more similar for the two sisters.

Inventory is much larger for University Park but it’s heading
in a downward direction, please note that 75225 also includes
vicinities around the area.

If you’d like a more detailed update by zip code you can subscribe
on the right hand sidebar for Market Activity Research Reports.
The reports are updated weekly and used in conjunction with the
MLS are powerful indicators of the market direction. Reports are
sent instantly and then every Wednesday thereafter. And of course
you can opt out at any time.

If you’re in the market or on the side lines this is a really good place
to start.

The Case-Schiller index came out last week and it shows the state
of the market compared to major U.S. cities. Take a look: Dallas only
shows a 3.2% decline in sales, one of the lowest decreases.
Be glad you’re not selling in CA, NV or FL. Chart is for single family,
not condos or townhomes.

Now, take a look at this chart from Altos:

Although sales are down a tiny bit - prices are increasing and holding nicely
from a year ago. The market action index shows activity has fallen off
considerably. Normally 30 is a sellers market, it’s down to 17.5 which
favors the buyer.

The problem in Dallas is not the devastating declines and loss of value but
the difficulty of obtaining a loan to buy real estate, especially jumbo loans.
That’s pretty much it in a nutshell.

That’s a lot and I’m sure you have some motivated seller’s
at least from my experience. If someone won’t negotiate,
tell them to take a hike, there are too many great houses
for sale not to scoop up a fantastic deal. And those are words
of wisdom for Saturday. Link has been updated with photo,
info, times etc. (Sunday Open Houses on top right)
Happy Hunting!

It’s Friday and Friday’s are for foreclosures, at least until the inventory
is back to normal proportions. The link to the top right has been updated with all the foreclosures from the MLS and zip codes include: 75205, 75225, 75229, 75230, 75219. All info is deemed reliable but not guaranteed, please be particularly detailed and careful about buying a foreclosure from any lender. They have their fangs out!

WOW! These numbers are great considering…
Park Cities Peeps should be very proud! Closed sales were up 3.6% from a year
ago (projected sales is when everything is entered into the MLS) As you can see,
prices are holding and that’s what everyone wants to know. Seller’s are making
concessions as sale to list price is 91.7% - which means some properties are still
on the high side.  These increases are attributed to the typical summer move to
get kiddos in school.  Only thing that is a bit worrisome here is the inventory
and it’s taking 35% longer to sell. So, just know it’s not you - it’s the market.
Monthly indicators have been updated on left side bar. Year to date is not so
good but prices are stable! Yeah!