DALLAS (AP) Cheap luxury containers are selling for up to $1 million in Dallas, making them more desirable than typical homes.
The latest sales data from real estate agents and brokers show prices in the city’s trendy north-central district jumped over the last few weeks to reach $1.5 million on average.
But they have fallen sharply over the past month.
The Dallas Real Estate Board says sales in the area were down nearly 2% over the same period in 2016, and sales in its most recent five-day average were down by 2.3%.
In recent years, rents in the neighborhood have risen.
The median price of a typical home in Dallas in December was $1,868, up 1.3% from a year earlier, according to the Realtors Association of Dallas.
The number of people renting in Dallas has fallen from about 9,000 people in 2014 to about 6,500 people in December.
But there are still more than 10,000 residents in the region, and the median income in the Dallas area is about $75,000, the Realty Board says.
The average price of an apartment in Dallas is $1.,972, up about 6.5% from December.
In a separate report, REALTORS.com said prices in two of the citys most expensive suburbs are up.
The suburb of Dallas South is among the most expensive in the metro area, RE/MAX figures show.
The price of condos is up 5.5%, to $2.3 million.
But that’s still below the average of $2 million for a typical Dallas home.
RE/Max data also shows prices in Arlington, home of Arlington National Cemetery, are up 4.2% over a year ago, and prices in North Arlington are up 7.7%.
That’s the area that was home to the countrys largest Army base in 2009.
Re/Max says prices in Dallas South are up more than 4% over last year, and in North Dallas prices are up 6.7% over that period.
The RE/MAKERS index for Dallas-Fort Worth is up 2.2%, but the Dallas-Lubbock area is up 6% over past years.
Realtor.com says the Dallas suburbs with the biggest increases are Arlington, which has risen 7.2%; North Arlington, up 4%; and the Dallas South-North Dallas-Arlington area, up 2%.