Minor gain from January doesn’t mask major loss from 2008
March 28, 2009
Dallas sales were up from January; however, the 2916 homes sold were 25 percent lower than in February 2008 and 31.4 percent lower than February 2007. January was the worst month seen in years; however, the 665 additional homes sold this month don’t change the reality that February’s sub-3000 sales were the third lowest number of sales in the past two years, and only the third time Dallas has had sales under 3000 homes.
The average price is the second lowest in our two year snap shot. February’s $188,900 price is 5.5 percent lower than in 2008. The price did gain on the $179,100 average price last month, but is lower than the $199,800 seen last February. The median price fared a little better. It is up from January 2009, and down only 1 percent from last year. The median price for the Dallas real estate market was $145,900.
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