Dallas Home Sales Statistics - September Year-To-Date

Allen, Tx Homes • 1,046 Sales, -14%
Price $245,517, +5% • Avg. DOM 81

Anna, Tx Homes • 179 Sales, -12%
Price $128,098, -2% • Avg. DOM 93

Carrollton/Farmers Branch, Tx Homes • 1,356 Sales, -8%
Price $191,098, +6% • Avg. DOM 62

Celina, Tx Homes • 79 sales, -32%
Price $197,304, -10% • Avg. DOM 117

Coppell, Tx Homes • 453 sales, -17%
Price $315,826, +9% • Avg. DOM 54

East Dallas Homes • 1,695 sales, -16%
Price $255,666 0% • Avg. DOM 76

Far North Dallas Homes • 739 Sales, -28%
Price $338,951, -2% • Avg. DOM 71

North Dallas Homes • 423 Sales, -25%
Price $972,603, +5% • Avg. DOM 97

Northeast Dallas Homes • 485 Sales, -17%
Price $251,694, +1% • Avg. DOM 58

Northwest Dallas Homes • 391 Sales, -31%
Price $242,898, +7% • Avg. DOM 75

North Denton County Homes • 2,093 Sales, -11%
Price $149,858, -6% • Avg. DOM 77

South Denton County Homes • 2,942 Sales, -18%
Price $240,549, -4% • Avg. DOM 69

Fairview/Lucas Homes • 217 Sales, -9%
Price $358,417, +4% • Avg. DOM 90

Frisco, Tx Homes • 2,234 Sales, -8%
Price $298,302, +2% • Avg. DOM 89

Garland, Tx Homes • 1,489 Sales, -18%
Price $117,500, -8% • Avg. DOM 74

Irving, Tx Homes • 1,024 Sales, -10%
Price $189,293, -2% • Avg. DOM 77

McKinney, Tx Homes • 1,597 Sales, -22%
Price $222,192, -3% • Avg. DOM 80

Melissa, Tx Homes • 92 Sales, -31%
Price $193,079, -4% • Avg. DOM 125

Mesquite, Tx Homes • 1,394 Sales, -14%
Price $94,835, -11% • Avg. DOM 83

North Oakcliff Homes • 999 Sales, -11%
Price $95,508, -13% • Avg. DOM 75

South Oakcliff Homes • 443 Sales, +7%
Price $62,273, -18% • Avg. DOM 73

Park Cities Homes • 554 Sales, -13%
Price $1,188,816, -3% • Avg. DOM 93

Plano, Tx Homes • 2,872 Sales, -13%
Price $275,064, 0% • Avg. DOM 68

Prosper, Tx Homes • 275 Sales, +13%
Price $308,629, +2% • Avg. DOM 134

Richardson, Tx Homes • 828 Sales, -17%
Price $171,540, -4% • Avg. DOM 64

Rockwall, Tx Homes • 969 Sales, -20%
Price $231,724, +3% • Avg. DOM 90

The Colony, Tx Homes • 419 Sales, -15%
Price $147,684, -4% • Avg. DOM 68

Uptown Condos • 694 Sales, -31%
Price $327,729,+16% • Avg. DOM 110

Wylie, Tx Homes • 683 Sales, -7%
Price $175,097, -1% • Avg. DOM 83

Pre-Owned DFW Home Sales Rise 2%

The following is a synopsis of an article from the
October 8th issue of the Dallas Morning News.

North Texas pre-owned home sales enjoyed a 2 percent gain in September, marking the first increase in more than a year. Economist James Gaines of Texas A&M University's Real Estate Center, said that the improvement in the local home sales numbers "means the market is in better balance with a reasonable inventory and enough activity to keep prices from falling dramatically."

And unlike the California real estate market, median prices in Dallas only fell 2 percent from a year earlier to $142,500. Approximately 41,000 pre-owned single-family homes are for sale in our 29-county area, which is down 15 percent from the previous year.

Builders have started construction on 5,500 new homes in the third quarter, making it the lowest number of new home starts in DFW in more than 10 years.

"It is my opinion that the drop in new-home construction is going to hit bottom between now and next summer," said Mark Dotzur, chief economist and director of research at Texas A&M's Real Estate Center. "The fact that new-home construction in the DFW area has fallen off precipitously in the past two years is going to shield the metro area from significant price declines."

September Home Resales
Pre-owned Homes Sold 6,392 (Up 2%)
Median Price $142,500 (Down 2%)
Average Days On Market 79 (Up 7%)
Pending Sales 5,410 (Down 15%)
For Sale 5,410 (Down 16%)

September Condo Resales
Condos Sold 358 (Down 13%)
Median Price $129,500 (Down 7%)
Average Days On Market 104 (Up 27%)
Pending Sales 305 (Down 18%)
For Sale 3,807 (Down 10%)

Outlook For Home Prices Is Optimistic. (DFW Housing)

The following is an article from dallasnews.com, by Steve Brown, Real Estate Editor

Texas cities least likely to lose value in 2 years, PMI study forecasts.
The Dallas-Fort Worth area came off best in the latest forecast of future home values. North Texas metro areas were ranked as the least likely in the country to experience a sustained home-price decline in mortgage insurance giant PMI Group's newest report.

The D-FW area has less than a 1 percent chance of having lower home prices in two years, according to PMI Group's risk study.

The California-based insurer ranks about 50 U.S. cities based on the likelihood of declines in home prices.

All of Texas' major markets were at the bottom of PMI's ranking, which was released Wednesday.

"Texas is looking better than anybody else," said PMI economist David Berson.

"The economy is doing much better in Texas than other places. And you didn't get the huge run-up in prices that needs to be worked off."

Even so, home prices in North Texas are down about 2.5 percent from a year ago, according to the latest estimate from Standard & Poor's Case-Shiller index.

But the PMI study takes a longer view, predicting where home prices will be in 24 months. The insurer's new risk assessment warns that there is almost a 100 percent chance that home prices in markets including Riverside, California and Orlando and Fort Lauderdale, Florida, will be lower in two years.

Big declines are also likely in many other Florida, California and Nevada markets.

"This down cycle in housing is very different from those in the past." said PMI spokesman Nate Purpura. "Typically, employment tanks and foreclosures follow. In this cycle, the foreclosures came first, then the unemployment, and now we're hitting a second wave of foreclosures brought on by the umemployment," he said.

"It's essentially a double-whammy in the housing market, and we're likely still somewhere in the midpoint."