Interested in DFW luxury real estate market conditions?
Each month I post on this Market Watch page a summary analysis of conditions in the Dallas / Fort Worth area luxury homes market.
Through January 31, 2010, here is what has been happening in the DFW luxury residential real estate market ...
Home sales / homes listed for sale
Same month, year-to-year sales of DFW luxury homes selling for $1 million and up were up 111.1 percent in January, with 19 previously occupied homes sold this year versus 9 such homes sold last year. However, it should be noted sales during January a year ago were down 66.7 percent from the previous year. During January two years ago 27 homes were sold. For the three months ending with January 2009, DFW luxury home sales were up 6.9 percent.
On average, about 755 previously occupied homes were listed for sale during January 2009. This is a 3.9 percent increase over the average 725 homes listed for sale during January a year ago and a 20.9 percent jump from the average 625 homes listed two years ago.
Home values appreciation
Average adjusted prices of previously occupied homes in the Dallas / Fort Worth metroplex that sold during November through January decreased by 12.1 percent, as compared to same quarter, previous year sales.
Homes selling for $1 million to $1.5 million were priced on average 11.6 percent lower than a year ago and the price of homes selling for between $1.5 million and $2 million decreased by 5.8 percent. The average price of homes selling for $2 million to $3 million was down 13.2 percent and the average price of homes selling for $3 million to $5 million was down 26.9 percent. The average sale price of homes in the more than $5 million category were was down 33.3 percent.
Home prices
The average adjusted square foot price of DFW homes sold during the three months ending in January priced at $1 million to $1.5 million was $224.69. Homes selling for $1.5 million to $2 million brought $276.75 per square foot. Homes selling for $2 million to $3 million were priced at $345.37 per square foot and homes priced at $3 million to $5 million sold for an average of $375.27 per square foot.
Supply of homes for sale
At the rate DFW luxury homes sold in January, it would take 39.6 months to sell the number of previously occupied homes currently listed for sale. This is a 47.8 percent increase from December's 26.6 months supply, but down 50.8 percent from the 80.6 months supply of homes available for sale during January last year.
Average days on market
The average period of time required to sell DFW luxury homes decreased to 175 days in January, up 20.9 percent from December's 144 days on market and up 17.5 percent from the average 149 average days on market posted during January last year.
Note: Not all houses offered for sale are listed on MLS. Information provided above is for properties listed on the MLS only. Projected sale prices used when actual sale prices of properties have been withheld.
Source: North Texas Real Estate Information Systems Inc.
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Same month, year-to-year sales of DFW luxury homes selling for $1 million and up were up 111.1 percent in January, with 19 previously occupied homes sold this year versus 9 such homes sold last year. However, it should be noted sales during January a year ago were down 66.7 percent from the previous year. During January two years ago 27 homes were sold. For the three months ending with January 2009, DFW luxury home sales were up 6.9 percent.
Average adjusted prices of previously occupied homes in the Dallas / Fort Worth metroplex that sold during November through January decreased by 12.1 percent, as compared to same quarter, previous year sales.
The average adjusted square foot price of DFW homes sold during the three months ending in January priced at $1 million to $1.5 million was $224.69. Homes selling for $1.5 million to $2 million brought $276.75 per square foot. Homes selling for $2 million to $3 million were priced at $345.37 per square foot and homes priced at $3 million to $5 million sold for an average of $375.27 per square foot. 
At the rate DFW luxury homes sold in January, it would take 39.6 months to sell the number of previously occupied homes currently listed for sale. This is a 47.8 percent increase from December's 26.6 months supply, but down 50.8 percent from the 80.6 months supply of homes available for sale during January last year.
The average period of time required to sell DFW luxury homes decreased to 175 days in January, up 20.9 percent from December's 144 days on market and up 17.5 percent from the average 149 average days on market posted during January last year.
