Statistics from the sales and the activity in real estate in the month of May.
Single family homes, there were 11,300 sales. That is up 9% from a year ago. However, year to date, taking January through May, we’re only up 4%. The dollar volume was up 14% in the month of May, meaning if you took the total of all of the sales together, dollar amount, that was up 14%. However, year over year, it’s our January to May, it’s only up 8%, which is still a lot of appreciation in value.
And, then, the average price, in the month of May, was up 4%, which is holding true from January through today. So, the average price is up 4%, and when you think about appreciation, a good, healthy appreciation is a 6% to 8%, and Dallas has been very consistent with that year over year. If you follow it, it’s just the perfect economic graph. There’s not a great high, there’s not a great low. It’s just a real nice economic graph of an appreciation.
Looking at condos, there were 714 sales in May, which showed a 2% rise, year over year. However, that was the largest number of sales of condos that … My stats go back to 2016, and there was not another month that was that high, from 2016 to date. So, that really speaks a lot about the value and the sales of condors right now. The dollar volume of all of the condos, together, that sold was only up 2%, but, year over year, that volume is up 8%. And, the average sales price, while it did not change from this May to last May, totally, since January, is up 7%. So, those numbers are looking really, really good.
Interestingly enough, as we look further into this and dig a little bit deeper, I look into what prices, what price range, is selling really well. And, this month, in the month of May, the $200,000 to $300,000 range is what sold most. There were 37,732 sales of price range from two hundred to three hundred. That’s significant. There’s only a one to two month supply of housing in that price range, and when I give you these statistics, I’m speaking of all of the DFW area. Everything that our MLS system covers, which is really, really large. It goes way up Prosper, even further up north. It goes past Mesquite South, over to the west. It almost hovers around Fort Worth, and then over to the east, it goes as far as Rockwall County, Heath, that area. So, it’s a very, very large geographic area that I’m speaking of.
So, when you think about it, the next price range, logically, but there’s not much in this price range, so it’s a little bit hard to factor this one in, was about one fifty to two hundred. That’s a really strong price point, however, we’re not finding a lot of housing in that price range. So, only 1,600 of those homes sold, but there’s only a one month supply of housing. And, let me talk about that a minute. When I talk about the number of months of housing, that’s to say that if not one more house came on the market, everything stayed just like it was, every one of those $150,000 to $200,000 houses would be sold, we would have no more left.
And, the same holds true for the two hundred to three hundred price range. We only have about a two month supply there. So, if no one else put their house on the market, in two months, we would be out of inventory. Well, of course, houses come on the market every day, although we’re seeing them come on slower and slow right now, which is kind of interesting, ’cause this time of year we usually have a plethora of houses coming on the market to choose from. So, if you want specific numbers for your neighborhood, or your area, I can break this down to be very specific for you. And, so, if you want that, you can contact us at 214-365-6500. Or, you can always find us online, at dallasnative.com, Instagram, Facebook, you name it, we go where you go.