A shortage of properties kept the lid on Dallas-area home sales in the first quarter of 2015. And that lack of inventory caused prices to soar — up 13 percent from the first quarter of last year, according to a comparison of Dallas-area neighborhoods. Some of the biggest jumps in prices were in southern Dallas County, where there’s an acute shortage of affordable homes to purchase. Median home sales prices rose 42 percent in Oak Cliff, 24 percent in DeSoto and 19 percent in Southern Dallas. There were also big first-quarter median price increases in North Dallas, where prices were up 20 percent. Real estate agents say that runaway prices in some Dallas-area neighborhoods are a result of the lowest inventory of houses for sale in decades. In several suburban markets, including The Colony, Richardson, Bedford, Hurst, Carrollton and Farmers Branch, there is less than a one-month supply of houses listed for sale with agents.
- Dallas Morning News, April 24, 2015