Median sales prices continue to rise in Dallas County and nearby communities as inventory continues to decline in November 2020.
The median sales price in Dallas County in November 2020 was $280,000, an increase of nearly 13% in comparison to $248,000 in November 2019. Three communities had double digit year over year median sales price increases including East Dallas, North Dallas and University Park. Preston Hollow had a triple digit year over year median sales price increase! The highest median sales prices were $1,850,000 in Highland Park, $1,591,500 in University Park, and $1,547,500 in Preston Hollow.
The months supply of available homes for sale in Dallas County shrunk to 2.0 months, a 39% decrease from 3.3 months in November 2019. Two communities have 2 months or less supply of available homes for sale including Lower Greenville with 1.8 months supply and Lakewood with 1.3 months supply.
Another statistic worth discussing is median days on market which continues to remain low with median days on market in Dallas County at just 14 days.
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