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Lake Highlands Home Highlight – November 2017

Posted on December 5, 2017
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Welcome to Lake Highlands Home Highlights! Each month, I’m dishing out an in depth breakdown of the Real Estate happenings in our neighborhood.

 

Let’s take a look at all the action that took place in November and compare it year over year.

Currently, there are 98 ACTIVE listings in Lake Highlands in MLS. That includes 51 NEW LISTINGS in November 2017. This number is down from 62 new listings in November 2016 and down from 59 new listings in November 2015. Last year the number of homes for sale was 126. This has increased to 133 homes for sale in November 2017. November 2015 saw the highest number of homes for sale at 135.

Per NTREIS trends®, 61 homes were closed in Lake Highlands in the month of November 2017, which is a 17% increase from the previous year’s 52 closings!

Market Report Summary

Lake Highlands – Dallas, TX Real Estate Report Summary

The average LIST price in November 2017 for single family homes in Lake Highlands was $409,629 (a -9.2% decrease from $450,888 in November 2016).

The average SALES price in November 2017 for single family homes in Lake Highlands was $385,171 (a -10.8% decrease from the average in November 2016 of $431,805. Sales price up from November 2015 when it was $362,256.

The average SALES price per square foot in Lake Highlands for November 2017 is $165, an 2% increase from November 2016 ($162/sqft).  This was also an increase from $141/sqft in November of 2015.

In November 2017 the Average Days on Market for Lake Highlands Home listings was 50. A 2-day increase from the previous year’s 48 DOM.

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

Graph 1

White Rock Elementary Area – Lake Highlands, TX Summary

The average LIST price in November 2017 is $632,000, which is a 54% INCREASE from November 2016, which was $411,380 and November 2015, ($464,740).

The average SALES price in the White Rock Elementary Area in November 2017 is $514,900. This was a decrease from November 2016 ($534,986) and November 2015 ($559,643).

Average price per square foot in November 2017 was $197. This is a slight decrease from November 2016, which was $200 per square foot. November 2015 has an average price per square foot of $198. Average days on market decreased to 45 days in November 2017 from 50 in November 2016.

Graph 2

Lake Highlands Elementary Area – Lake Highlands, TX Summary

The average LIST price in November 2017 is $390,250 which is a decrease from November 2016, which was $472,236, but still an increase from November 2015. ($371,040).

The average SALES price in the Lake Highlands Elementary Area saw a -5% decrease in November 2017 of $407,489 from $427,579 in November 2016. Both years showed a huge increase in sales price from November 2015, which was only $256,000!

Average price per square foot in November 2017 was $208. This is an increase from November 2016, which was $178 per square foot. November 2015 had the lowest price per square foot in the last 3 years at $141. Average days on market saw a 51% increase YOY with 65 days in November 2017 over 43 in November 2016.

Graph 3

Wallace Elementary Area – Lake Highlands, TX Summary

The average LIST price in November 2017 is $400,430, which is an increase from November 2016, which was $375,656, but still an increase from November 2015. ($398,580).

The average SALES price in the Wallace Elementary Area saw a decrease in November 2017 to $378,929 from $423,067 in November 2016. Average sales price is still up from the November 2015, which was $318,800.

Average price per square foot in November 2017 was $171. This is a decrease from November 2016, which was $175 per square foot. November 2015 had the lowest price per square foot in the last 3 years at $149. Average days on market increased YOY to 26 days in November 2017 from 17 in November 2016.

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