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Lake Highlands Home Highlight – February 2018

Posted on March 16, 2018
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February 2018 Market Watch

Welcome to Lake Highlands Home Highlights! Each month, I’m dishing out an in-depth breakdown of the Real Estate happenings in our neighborhood.

Hey March! The grass is getting greener and the blooms are coming out to play. This is much appreciated after a few weeks of constant rain. Let’s see what the gloomy weather did to the Real Estate activity in Lake Highlands.

Currently, there are 122 ACTIVE listings and 4 COMING SOON in Lake Highlands in MLS. That includes 68 NEW LISTINGS in February 2018. This number is down from 95 new listings in February 2016 and down from 80 new listings in February 2015. Last year the number of homes for sale was 104. This has increased slightly to 108 homes for sale in February 2018. February 2016 saw the highest number of homes for sale at 109.

Per NTREIS trends®, 36 homes were closed in Lake Highlands in the month of February 2018, which is a 23% decrease from the previous year’s 47 closings.

Market Report Summary

Lake Highlands – Dallas, TX

The average LIST price in February 2018 for single family homes in Lake Highlands was $504,501 (a 14% increase from $443,424 in February 2017).

The average SALES price in February 2018 for single family homes in Lake Highlands was $392,585 (a -8% decrease from the average in February 2017 of $428,737) Current sales price is slightly higher than February 2016 at $382,655.

The average SALES price per square foot in Lake Highlands for February 2018 is $175, an 2% increase from February 2017 ($171/sqft). This was also an increase from $155/sqft in February of 2016.

In February 2018 the Average Days on Market for Lake Highlands Home listings was 54. A 29% increase from the previous year’s 42 DOM.

Now, let’s zoom in on some of my favorite Lake Highlands neighborhoods and check out last month’s trends.

White Rock Elementary Area – Lake Highlands, TX Summary

The average LIST price in February 2018 is $665,788, which is a 22% increase from February 2017, which was $546,555 and February 2016, ($560,089).

The average SALES price in the White Rock Elementary Area in February 2018 is $531,250. This is an increase from February 2017 ($501,156) and slight decrease compared to February 2016 ($532,500).

Average price per square foot in February 2018 was $230. This is an increase from January 2017, which was $199 per square foot. January 2016 had an average price per square foot of $217. Average days on market decreased to 22 days in February 2018 from 62 in February 2017.

Lake Highlands Elementary Area – Lake Highlands, TX Summary

The average LIST price in February 2018 for single family homes in Lake Highlands was $477,917 (a 10% increase from $436,037 in February 2017).

The average SALES price in February 2018 for single family homes in Lake Highlands was $358,844 (a +2% increase from the average in February 2017 of $349,786) Sales price is about the same as February 2016 with $359,621.

The average SALES price per square foot in Lake Highlands for February 2018 is $210, an 2% increase from February 2017 ($205/sqft). This was also an increase from $179/sqft in February of 2016.

In February 2018 the Average Days on Market for Lake Highlands Home listings was 39. A 179% increase from the previous year’s 14 DOM. Homes appear to be sitting longer than they have in the past 2 years.

Wallace Elementary Area – Lake Highlands, TX Summary

The average LIST price in February 2018 is $458,778, which is an increase from February 2017, which was $397,842 and still an increase from January 2016. ($363,261).

The average SALES price in the Wallace Elementary Area saw an increase in February 2018 to $370,188 from $342,750 in February 2017. Average sales price is still up from the February 2016, which was $307,917.

Average price per square foot in February 2018 was $168. This is a 10% increase from February 2017, which was $153 per square foot. February 2016 had a price per square foot of $160. Average days on market stayed similar YOY at 25 days from 24 days in February 2017. Days on market were much higher in February 2016 at 57 days.

Want to Find Homes For Sale in Lake Highlands – Dallas, TX?

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