Housing News and How It Relates to the Dallas Condo Market

Posted by Emily Ray-Porter Group 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.
Emily Ray-Porter

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