There was a time when you couldn't give a condominium away in the land-rich Dallas, Texas area. But traffic congestion (bad), the revitalization of downtown (good) and other factors have contributed to a loft, townhome and condominium-friendly housing environment.

While some areas of Dallas show a housing glut, the Oaklawn/Uptown area just north of downtown Dallas is experiencing a renaissance.

"Oaklawn/Uptown is the hot spot of Dallas for buyers wanting the convenience of Downtown, Uptown, Park Cities and the two major airports," says Realtor Sue Krider. "A vibrant, bustling area of activity! Townhomes and condominiums are featured in this area with very few single-family residences, making this an attractive area for singles, professionals, executives, and people wanting a more simple lifestyle."

She says, "April and Year-to-Date numbers are great for the Oak Lawn/Uptown area. Condo and townhome sales are very strong! For the first time in months, there are slightly less homes on the market then same time last year.

Listed below are the most recent statistics for condominium/loft/townhome sales released by the North Texas Real Estate Information System:

Number of Sales Closed April 2003 - 78
Number of Sales Closed April 2002 - 59

Average Sales Price April 2003 - $247,377
Average Sales Price April 2002 - $218,249

Pending Sales April 2003 - 93
Pending Sales April 2002 - 82

Active Listings April 2003 - 641
Active Listings April 2002 - 662

Year to Date # Sales April 2003 - 275
Year to Date # Sales April 2002 - 254

YTD Avg. Sales Price April 2003 - $234,301
YTD Avg. Sales Price April 2002 - $225,935

Says Realtor Joanna Tipton, "Oak Lawn/Uptown is both a high-rise and low-rise area, offering a wide variety of homes. This area offers the ultimate in convenience and low maintenance so necessary for today's lifestyles."

"Oak Lawn/Uptown is an exciting urban neighborhood with many great restaurants, galleries, shops and more," says Realtor Alan Shaffer. "Now that spring is here in full force, it's the busiest time of the year for real estate. Interest rates are still under 7 percent, the market is getting stronger and stronger for sellers! I'm finding buyers competing for the homes on the market in price ranges under $125,000. With interest rates so low, now is a great time to buy and or sell real estate."

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Published: June 3, 2003

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