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Lake Highlands Home Highlights – October 2017

Posted on November 9, 2017
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LakeHighlandsHomeHighlights

 

Welcome to Lake Highlands Home Highlights! Each month, I’m dishing out an in-depth breakdown of the Real Estate happenings in our neighborhood. As a resident of Lake Highlands and mom to a White Rock Elementary student, I love our hood just as much as you do.

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

Currently, there are 168 ACTIVE listings and 1 listing coming soon for sale in Lake Highlands in MLS. That includes 68 NEW LISTINGS in October 2017. This number is up from 56 new listings in October 2016 and down from 79 new listings in October 2015. Over the last three years the number of homes for sale has decreased: in October of 2015, 2016 & 2017 there were 132, 128 & 138, respectively.

Per NTREIS trends®, 73 homes were closed in Lake Highlands in the month of October 2017, which was a -5.2% decrease from the previous year’s 77 closings.

 

Lake Highlands – Dallas, TX Real Estate Report Summary

The average LIST price in October 2017 for single family homes in Lake Highlands was $385,876 (a -16.2% decrease from $460,590 in October 2016).

The average SALES price in October 2017 for single family homes in Lake Highlands was $408,515 (a 3.5% increase from the average in October 2016 of $394,598. Sales price up from October 2015 when it was $333,659.

The average SALES price per square foot in Lake Highlands for October 2017 is $169, a 3.7% increase from October 2016 ($163/sqft).  This was also an increase from $146/sqft in October of 2015.

In October 2017 the Average Days on Market for Lake Highlands Home listings was 47. A 12-day increase from the previous year’s 35 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 October 2017 is $571,667, which is a decrease from October 2016, which was $731,500, but still an increase from October 2015. ($549,133).

The average SALES price in the White Rock Elementary Area in October 2017 is $472,390. This was an increase from October 2016 ($435,00) and October 2015 ($449,980).

The average price per square foot in October 2017 was $184. This is an increase from October 2016, which was $175 per square foot. We saw the highest price per square foot of $225 in October 2015. Average days on market saw a huge increase YOY with 39 days in October 2017 over 9 in October 2016.

 

Lake Highlands Elementary Area – Lake Highlands, TX Summary

The average LIST price in October 2017 is $352,203, which is a decrease from October 2016, which was $384,567, but still an increase from October 2015. ($328,747).

The average SALES price in the Lake Highlands Elementary Area saw an increase each year in October. The highest average sales price was October 2017 at $386,256. October 2016 was $354,358 and October 2015 was $273,567. That is a $112,389 increase since 2015!

The average price per square foot in October 2017 was $207. This is an increase from October 2016, which was $198 per square foot. October 2015 had the lowest price per square foot in the last 3 years at $162. Average days on market saw a huge increase YOY with 56 days in October 2017 over 23 in October 2016.

 

Wallace Elementary Area – Lake Highlands, TX Summary

The average LIST price in October 2017 is $374,730, which is a decrease from October 2016, which was $439,614, but still an increase from October 2015. ($332,807). The average SALES price in the Wallace Elementary Area saw an increase each year in October. The highest average sales price was October 2017 at $345,875. October 2016 was $323,000 and October 2015 was $302,917. That is a $42,958 increase since 2015.

The average price per square foot in October 2017 was $176. This is an increase from October 2016, which was $166 per square foot. October 2015 had the lowest price per square foot in the last 3 years at $144. Average days on market saw decreased YOY to 22 days in October 2017 from 33 in October 2016.

Overall, we are still seeing an increase in price per square foot year over year.

 

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

Receive a complimentary market report and find out what your home is worth in Lake Highlands, TX here. Stay up to date on new listings and other Lake Highlands Real Estate news on my Facebook page.

Elissa Genova is a Dallas based REALTOR® with Davidson Lane Real Estate Group, motivated by working with home buyers & sellers that appreciate her market knowledge and are ready to take the plunge! Elissa brings experience, innovation and a sharp sense of customer service to each real estate transaction. For help buying or selling a property, call 214.662.9560.