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North Dallas/Preston Hollow Sales Over the Last 5 Years

North Dallas/Preston Hollow Sales Over the Last 5 Years

2020 has been an interesting year for residential real estate. While the world was shut down for 2+ months from March to June, the real estate market kept up at a healthy pace.
Let's take a look at the area known as traditional North Dallas/Preston Hollow. First, we will look at the area bound by LBJ to the North and Royal Lane to the south, between Midway Road and Central Expressway. We are going to focus on properties built from 1950-1980 on lots measuring .3 acres to .49 acres. Here are the results year over year for the last 5 years:
 
Year Sales Median Price
2020 113 $722,500
2019 172 $657,500
2018 158 $675,500
2017 192 $626,500
2016 159 $620,000
 
So, looking at these numbers, the median sale price for this type property in this area is up 16.5% over the last 5 years. This in the middle of a crippling pandemic.
Now let's focus on the same class of property, but in the area bound by Royal Lane to the North, Northwest Highway to the South, between Midway Road and Central Expressway.
 
Year Sales Median Price
2020 37 $805,000
2019 50 $749,400
2018 58 $747,500
2017 71 $700,000
2016 67 $650,000
 
These numbers indicate that the median sale price for this class of property is up 23.8% over the last 5 years.
Between the gain in market price and record low interest rates, it is a great time to explore selling your property.