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New home listings have slowed in Oak Cliff, 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 the state of Texas, according to data collected by consultants HiGeorge.
Explore these changes in our neighborhood through a series of graphs below.
Fewer homes on the market
In the five ZIP codes in Oak Cliff, there was a decline in the number of new home listings since July of last year, with the exception of ZIP code 75224.
The drop was most noticeable in ZIP codes 75208, which decreased by nearly 30% from the the month of July to the end of January this year. ZIP codes 75203 and 75233—which consistently had the least number of new homes available—had a less than 10% decline in listings, while ZIP code 75224 had a roughly 15% increase.
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 the Oak Cliff neighborhood.
These numbers followed similar trends as the drop in new listings, but had a less drastic decline new listings. There were 276 homes reported as sold in July of last year, and 264 in January. Increases in two Oak Cliff ZIP codes kept this number relatively steady, while others fell by more than 20%.
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 in three out of five Oak Cliff ZIP codes.
This is part of a gradual trend in the Oak Cliff neighborhood.
In the last five years, listing prices have increased more than 70% in all but one of the five ZIP codes in the area. The largest gain came from ZIP codes 75203 and 75224, both of which saw an increase upward of 100% in listing prices.
ZIP code 75208 priced up the least, with a roughly 16% increase in listed home prices.
Final sale prices for homes have increased as well over the last five years. Explore these changes in Oak Cliff and surrounding areas using the map below.
