Dallas/ Ft. Worth Sales Activity Report for July

Hurray! We got the first positive monthly report in a very long time.

Sales were up by a strong 18% in July. The average sales price was down by 4% and the median sales price was also down by 1%. It look to me that the declines in the sales price was due some drop off of sales in the high-end areas combined with investors picking up more properties at the low end and everything else in between being flat.

The number of new listings declined by 17% helping bring down the number of active listings by 14%.

The pending sales number is was up by 13%. Positive for next month.

Condo and townhouse sales rebounded very nicely in July and were up by 38%. the average sales price declined by 9%. Pending condo and townhome sales were up by 29%

The rental market remains very strong. For July rentals were up by 6 % and the average rent increased by 4 %.

If you are looking for a rental, there is less than a 2 month supply to choose from. Consider buying a house. With the increases in rents, the current house prices and very low interest rates it costs less money to own than rent.

Sales : 6,079

Average Sales Price: $203,723

Median Sales Price: $153,000

New Listings: 9,658

Active Listings: 36,733

Pending Sales: 5,521

Months of Inventory: 6.9