Median Sales Prices Continue to Rise as Inventory Continues to Decline in October 2020

Median sales prices continue to rise in Dallas County and nearby communities as inventory continues to decline in October 2020.

The median sales price in Dallas County in October 2020 was $285,000, an increase of nearly 18% in comparison to $242,500 in October 2019. Eight communities had double digit median sales price increases including Addison, Bluffview, East Dallas, Far North Dallas, Highland Park, Knox-Henderson, Lakewood and Lower Greenville. The highest median sales prices were $1,843,000 in Highland Park, $1,368,938 in University Park, and $1,087,500 in Preston Hollow.

The months supply of available homes for sale in Dallas County shrunk to 2.2 months, a 39% decrease from 3.6 months in October 2019. Three communities have 2 months or less supply of available homes for sale including Lower Greenville with 2 months supply, Lakewood with 1.7 months supply, and Addison with 1.5 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 14 days in Dallas County. 

Following are links to all Dallas County community market updates: