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Dallas Market Statistics – June 2015

Dallas Market Statistics – June -2015 

In the Dallas real estate market, conditions continue to favor sellers over buyers, even as more houses become available compared to his time last year. June 2015 found an increase in the number of new listings, active listings and pending listings for single-family homes, according to information from North Texas Real Estate Information System.

The 12,6662 new listings in June 2015 represented a 7 percent increase over June 2014. Active listings decreased 12 percent to 19,558 over the same period. Pending listings had an even higher jump, with the 8,719 pending listings in June 2015, indicating a 14 percent increase over June 2014. Actual sales of single-family homes also increased  over the same period.

The North Texas Real Estate Information System reports that in June 1025, a total of 10,575 single homes were sold in the Dallas area. This represents a 12 percent increase over sales in June 2014.

Prices in the Dallas real estate market continued to climb during that year-long period. The median price of a single-family home in the Dallas area increased 12 percent between June 2014, to $220,000. Average home prices rose 10 percent during that period to $276,463. The dollar volume of sales during the year increased 23 percent. In total, $2,923,596,225 worth of homes were sold in June 2015.

Homes spend an average of 39 days on the market in Dallas, which is a decrease from the same as in June 2014. Generally high prices, limited availability, and quick sales of those homes that come up for sale make the Dallas real estate market a favorable environment for sellers. See more NTREIS MLS housing activity report here.

Strong buyer demand has created multiple offers for sellers and low inventory is causing home prices to rise. It’s not uncommon for a seller to get 4 or 5 offers to chose from. Make your first offer the best in order to compete. Many first time home buyers have turned to renting and will wait until the market becomes more balanced. The influx of new companies and people to North Texas is creating unprecedented buyer demand.

Watch the Dallas real estate market in real time with these interactive charts.

Smith & Smith Realty provides expert real estate services to residential buyers and sellers in Dallas and surrounding communities. Contact us today for more information on Dallas real estate and for professional assistance navigating this sometimes complex home market.

About Terry Smith

Passionate about real estate, positive problem solver, specialty boutique real estate brokerage that does things your way! A full-time Broker & REALTOR®, helping people buy and sell homes in the Dallas - Plano area. Whether you're a buyer just starting out or someone with luxury properties to sell. I have extensive knowledge and experience to help you with your real estate transaction. I am a native Dallasite. Have questions? Ask me. You can find me on Google+ and Pinterest.

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