BOB EDMONSON
REAL ESTATE PROFESSIONAL

The home sales market in our North Texas neighborhoods took some positive steps forward in April, with single family homes advancing 8%. condos 4% and townhomes 2% vs year ago numbers.  It is the heart of the Spring Market afterall!  Median sales prices were also higher, up 3% for single family homes and 4% for condos, but off 2% for townhomes.  While not gangbuster results, these numbers represent a healthy market able to reverse some trends, and importantly, show resilience in the face of 6-7% mortgage rates and continued tight inventory.  We thank the sellers out there who made their homes available for purchase.

And we can’t do it without buyers.  Buyers had to be poised, ready to pounce, knowing the inflationary market rate conditions.  The days on market (DOM) were down across the board, evidence of continued strong demand from locals and out-of-town/state prospects looking to make a new home in our favorable economy.  We thank these buyer for biting the interest rate bullet.  We will see if we can continue this momentum in May.  Odds are good!

Check out last month’s performance in selected sub markets in the list below. Only sales transacted through the MLS are recorded, so sales are always understated to a small extent.

Overall Single Family Market (North Texas):

Feb 24 vs 23: Sales down 1%, median price up 2%, DOM 61, down 3%.

Mar 24 vs 23: Sales down 7%, median price up 2%, DOM 53, down 12%.

Apr 24 vs 23: Sales up 8%, median price up 3%, DOM 47, down 11%.

YTD 24 vs 23: Sales up 2%, median price up 2%, DOM 55, down 7%.

Overall Condos Market (North Texas):

Feb 24 vs 23: Sales down 18%, median price down 3%, DOM 48, down 6%.

Mar 24 vs 23: Sales down 21%, median price unchanged, DOM 43, up 13%.

Apr 24 vs 23: Sales up 4%, median price up 4%, DOM 52, up 58%.

YTD 24 vs 23: Sales down 13%, median price up 7%, DOM 51, up 24%.

Overall Townhome Market (North Texas):

Feb 24 vs 23: Sales up 3%, median price up 3%, DOM 58, down 5%.

Mar 24 vs 23: Sales down 9%, median price up 6%. DOM 51, down 22%.

Apr 24 vs 23: Sales up 2%, median price down 2%, DOM 58, down 5%.

YTD 24 vs 23: Sales unchanged, median price down 2%, DOM 56, down 16%.

Single Family Home Sales Trends:

Apr 2024: 8014 houses, $199/sf avg, 97% sold to asking

Apr 2023: 7388 houses, $195/sf avg, 96% sold to asking

Apr 2022: 8049 houses, $204/sf avg, 106% sold to asking

Condo Sales Trends:

Apr 2024: 305 homes, $249/sf avg, 95% sold to asking

Apr 2023: 293 homes, $240/sf avg, 98% sold to asking

Apr 2022: 374 homes, $237/sf avg, 105% sold to asking

Townhomes Sales Trends: 

Apr 2024: 312 homes sold, $226/sf avg, 97% sold to asking

Apr 2023: 306 homes sold, $222/sf avg, 98% sold to asking

Apr 2022: 313 homes sold, $221/sf avg, 105% sold to asking

Here is a look at Single Family home sales by selected Cities for April 2024 vs 2023:

Dallas: Sales 788 vs 697, Median Price $255/sf vs $236/sf, Sold vs Asking 97%.

Richardson: Sales 102 vs 81, Median Price $239/sf vs $225/sf, Sold vs Asking 98%.

Plano:  Sales 213 vs 189, Median Price $227/sf vs $223/sf, Sold to Asking 100%.

Frisco:  Sales 201 vs 179, Median Price $252/sf vs $246/sf, Sold to Asking 99%.

Highland Park: 9 vs 9, Median Price $884/sf vs $864/sf, Sold to Asking 100%.

University Park: Sales 15 vs 12 , Median Price $527/sf vs $634/sf, Sold to Asking 100%.

Southlake: Sales 38 vs 32, Median Price $341/sf vs $322/sf, Sold to Asking 98%.

Colleyville: Sales 35 vs 24, Median Price $283/sf vs $242/sf, Sold to Asking 96%.

Coppell: Sales 24 vs 22, Median Price $262/sf vs $239/sf, Sold to Asking 95%.

Carrollton: Sales 82 vs 89, Median Price $223/sf vs $216/sf, Sold to Asking 98%.

Farmers Branch: Sales 17 vs 19, Median Price $169/sf vs $187/sf, Sold to Asking 94%.

Allen: Sales 63 vs 44, Median Price $205/sf vs $218/sf, Sold to Asking 96%.

If you would like information for another city, call, email or text me!

Bob Edmonson, Allie Beth Allman & Associates, 214-563-8540