Photo courtesy Getty Images.
New home listings have slowed in Lakewood and East Dallas, causing the number of homes sold in the area to drop. With this slowing has come a rise in sales prices—something seen across Dallas and Texas, according to data collected by consultants HiGeorge.
Explore these changes in our neighborhood through a series of graphs below.
Less homes on the market
In the five ZIP codes in Lakewood and East Dallas, there was a visible decline in the number of new home listings since July of last year.
The drop was most noticeable in ZIP codes 75206 and 75214, which decreased by roughly half from the month of July to the end of January this year. ZIP code 75223—which consistently had the least number of new homes available—was affected the least, with a roughly 23% decline over six months.
In all of Dallas, trends show a similar decline from July to the end of the year in both 2019 and 2020. These numbers increased in January each year, but were still lower in 2020 and 2021 than in 2019.
The number of new homes appears to be on the rise in the early months of 2021.
Home sales drop
With less homes on the market to sell, the number of homes sold has also dropped in Lakewood and East Dallas neighborhoods.
These numbers followed a similar trend as the drop in new listings, but had a less drastic decline than listings did at the ZIP code level. The largest drop—roughly 33%—was seen in ZIP code 75214.
Total home sales dropped across Dallas as a whole as well, with a nearly 28% decrease from July to January. However, the number of sales were still significantly higher than in 2019. This trend changed in early 2021, when the number of homes sold fell below levels from both previous years in March and April.
A more expensive market
The cost of homes has increased at the same time that the market has downsized its available inventory.
This is part of a long-standing trend in Lakewood and East Dallas neighborhoods.
In the last five years, listing prices have increased more than 20% in each of the five ZIP codes in the area. ZIP code 75223 fluctuated the most on the way to its current cost, while other ZIP codes remained more steady in their increases.
Final sale prices for homes have increased as well over the last five years. Explore these changes in Lakewood, East Dallas and surrounding areas using the map below.
