East Dallas Home Prices up 16%, most areas down. (Arlington, Plano: sales, 2013)

[Lakewooder]

Wow East Dallas home prices up 16%! Dallas Area Home Sales - Business News for Dallas, Texas - The Dallas Morning News Most areas down. North Dallas up 5% Park Cities up 2%. East Dallas median price higher than Plano. Price per square foot the same as Westlake.

[highcotton]

Good!

[Cowboys fan in Houston]

Should that surprise you? Comparing housing costs close to the city center vs those in surburbs is apples and oranges.

[Lakewooder]

So if you want to make money on your house buy in East Dallas, not the suburbs.

[Cowboys fan in Houston]

Originally Posted by Lakewooder

So if you want to make money on your house buy in East Dallas, not the suburbs.

Thats no different anywhere. Its easier to flip houses if you buy in the city vs. the suburbs. However when the market is down, you also have the potential to lose a lot more money. Houses in nice suburbs (like say Plano or Richardson) hold their value and make modest gains. In Dallas, its a lot more up and down.

[TurtleCreek80]

Actually, the median price is only one data point to consider. The scary thing is if you look at the # of sales vs LY, they were DOWN in 47 of 50 MLS areas tracked in the Dallas morning news.

The three "winners" were:
Oak Lawn/ Uptown - sales +6%, median price -2% (indicates fairly stable market)
Park Cities- sales +1%, median price + 2%
North Dallas- sales +1%, median price +5%

East Dallas' # of sales was -11%. Coupled with a price increase of +16%...could actually indicate a "bubble" and prices could end up falling to get listed homes closed if more buyers don't enter the market.

Here's the % change in housing units sold, irrelevant to prices changing:
-35% Euless
-30% Cedar Hill
-27% Wilmer Hutchins
-25% The Colony
-24% Duncanville
-23% DeSoto & Mesquite
-21% Lancaster
-20% Arlington & Sasche & Rowlett
-19% Garland
-17% Northwest Dallas
-15% Wylie & Oak Cliff
-14% Lewisville & Flower Mound
-13% Fairview
-12% Allen
-11% East Dallas & Irving
-8% Rockwall
-7% Far North Dallas & Sunnyvale
-6% Plano
-5% Frisco


The bottom line is that it's still pretty scary out there.

[jelf]

Originally Posted by Lakewooder

So if you want to make money on your house buy in East Dallas, not the suburbs.

I'm surprised that you didn't point out the downward trend in your least-favorite neighbor (Lake Highlands).

[mikeh19468]

Originally Posted by TurtleCreek80

Actually, the median price is only one data point to consider. The scary thing is if you look at the # of sales vs LY, they were DOWN in 47 of 50 MLS areas tracked in the Dallas morning news.


The bottom line is that it's still pretty scary out there.

+1

However, this is still far better than many other parts of the country. I just managed to get my old house in the Philly suburbs under contract after less than 45 days on the market, but I have a lot of friends and coworkers that, even with aggressive pricing, aren't so lucky.

Things may not be great here, but as with many other things in the DFW area (and Texas in general), relatively speaking, we're better off.

[Twincam666]

But most of East Dallas has high crime and is dumpy looking

[DaveG99]

Originally Posted by Twincam666

But most of East Dallas has high crime and is dumpy looking

especially the M streets. You get mugged there! and people get frustrated about it.