From the most recent reports from Trulia and movoto.com, it appears that the housing market in Dallas is still on the sluggish side. The information that Trulia posted was collected from the period from September 5th through September 26th.
A median sales price of $68,923.00 was derived based on 431 sales that took place from June 12th to August 12th. Compared to the same period, in 2011, that price reflects a decrease of 15% or $12,177.00. That should come as no big surprise, since the average price per square foot in the Dallas metro was down by 4.6% or $62.
In the Trulia report, the average listing price for the Dallas area was $510,218.00. On movoto.com’s report, it noted that during the month of September, among the homes listed, there were 828 price decreases and 67 increases.
There was some good news for the “Big D”, considering that compared to one year ago, the number of home sales was up by 16.5%. Also noteworthy is the fact, that as in many of the nation’s other large metro areas, inventory is decreasing. That is according to movoto.com, who reported that the Dallas real estate inventory is down m-o-m by 3%. If the decrease in the number of homes on the market follows the pattern of what has happened in other large cities, Dallas should see a gradual increase in home values. If you’re considering purchasing or refinancing a home in the greater Dallas area, be sure to check current mortgage rates and closing cost information using the mortgage rate tables on ForTheBestRate.com.
Sources: Trulia.com, Movoto.com