There’s more good news about housing prices in Lake Highlands. The final six months of 2009 were even better than the first six months, as measured by the fifth Advocate Home Price Snapshot, compiled with the help of Ron Burch at Coldwell Banker.
That means Lake Highlands continues to lead the five neighborhoods where we publish magazines. Single-family home sale prices increased in three of our neighborhood’s four zip codes.
Meanwhile, the average sale price declined in 15 of the 22 zip codes where we publish magazines. That compares to 17 declines in the first six months of the year, and 14 declines in the 2008 numbers. (For this snapshot, we used sales figures through Nov. 30 reported to the North Texas Real Estate Information System. We compile the snapshot every six months. A chart with complete figures for all 22 zip codes is on our website at advocatemag.com/home_price_snapshot.) Overall, it looks as if the least expensive neighborhoods did the best.
That was true in Lake Highlands. The hikes weren’t much, mostly around one percentage point, but this is the third consecutive snapshot where Lake Highlands has done better than the norm. It had one of only three zip codes, 75231, where the number of days a home spent on the market didn’t increase.
Elsewhere in the neighborhoods where we distribute magazines:
• In East Dallas and Lakewood, home prices increased 16 percent in 75223. Prices declined in the remaining four zip codes, but most percentage drops were in the low single digits and not at the rates that showed up in the June numbers. The number of days a home spent on the market increased in all five East Dallas zip codes.
• Prices continued to decline in Preston Hollow, which had held its own in 2008. The biggest decline came in 75229, where home prices dropped 22 percent from their 2008 level.
• Far North Dallas was hit even harder, with prices declining in all seven zip codes in which we deliver.
• Oak Cliff rallied in the second part of the year, with prices increasing in three of the four areas where we deliver magazines. They had declined in three of four through the middle of the year.
See a comprehensive chart at advocatemag.com/home_price_snapshot.
