Housing News and How It Relates to the Dallas Condo MarketPosted by Emily Ray-Porter on Wednesday, August 25th, 2010 at 2:55pm.
I'm sure you all have seen the negative housing news that is all over the media and I would like to give you a clearer picture of the Uptown/Turtle Creek/Downtown market. Though it is true that home sales fell in July, in our area they were down only 16% over July 2009. I think that is very good considering we were coming off the $8,000 tax incentive. Here is a snapshot of the numbers:
July 2009 July 2010
# of sales 70 59
average sales price $260,658 $350,623
average list to sales 96% 97%
sales volume $17,432,558 $19,846,749
As you can see, figures were up in all categories other than number of properties sold. In addition, the number of sales over $500,000 in the area rose from 26 properties for the first 8 months of 2009 to 71 properties in the first 8 months of 2010.