Dallas North home sales were down 8% in February 2014


Dallas North home sales were down 8% in February 2014 compared to the same month last year with 56 homes selling this month. So far this year, there have been 114 home sales, which is a decrease of 5% from last year.

New real estate listings in the Dallas North area have decreased 26%, with 123 homes listed this month, compared to the same period last year. So far this year, overall home listings have decreased 20%, with 234 homes listed. The number of listings under contract decreased 25% this month, with 77 homes contracted. The number of listings under contract for the year to date decreased 16%, with 151 homes under contract. The current supply of active listings on the market this month was 296 homes, a 24% decrease from the same month last year. There was a 3.2 month supply of homes on the market, which is a 33% decrease from last year.

The average sales price of a home in the Dallas North area this month was $934,479, up 84% from this month last year. For the year 2014, the average sales price was up 36%, at $803,142. On average, sellers have received 94% of their asking price this month, which is an increase of 2% from last year. For the year to date, sellers received 92% of their asking price, a change of 2%. This month, homes spent an average of 57 days on the market until sold, which represents a decrease of 33% from last year. For the year to date, the average number of days on the market was 74, a decrease of 13%.

Dallas North real estate information, known as MLS Area 11, is reported by area in the North Texas Real Estate Information System. The information in this report is believed reliable, but is only as accurate as reported by the system in the month of February 2014.

The DFW area is also known as the Dallas Fort Worth Metropolitan Statistical Area, a title designated by the U.S. Census Bureau, which encompasses 12 counties within the state of Texas. The area is divided into two metropolitan divisions: Dallas Plano Irving and Fort Worth. It is comprised of over 70 cities, both incorporated and unincorporated. The DFW Metroplex is, by population, the largest metropolitan area in Texas, the largest in the South, the fourth-largest in the United States, and the tenth-largest in the Americas. The DFW Metroplex encompasses over 9,000 square miles of total area, making it larger in area than the states of Rhode Island and Connecticut, combined. It also has the sixth-largest gross metropolitan product (GMP) in the United States, and is approximately tenth-largest by GMP in the world.

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Dallas North Texas Real Estate February 2014

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