Market Update: North Texas Home Prices Keep Climbing
Posted April 11th, 2013 | by Update Metro
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March was another big month for North Texas home sales, with purchases of preowned properties rising 22 percent from year-ago levels, the Dallas Morning News reports.
And median single-family home sales prices were 8 percent higher than in March 2012, the Real Estate Center at Texas A&M University and the North Texas Real Estate Information Systems reported Monday.
So far this year, home sales through real estate agents’ multiple listing services are 19 percent higher than in the first quarter of 2012.
Meanwhile, the Dallas Business Journal reports that Metroplex home prices rose 7 percent year-over-year this spring to a median home price of $169,900, even as housing inventory continued to dwindle.
North Texas’ housing inventory, or homes listed for sale on the market, decreased 33 percent, according to a report released Tuesday from ZipRealty, which measured MLS housing data from Feb. 15-March 15.
At Briggs Freeman Sotheby’s International Realty, where agents continue to report a brisk market for homes priced right and in good condition, sales are up year over year.
“Our biggest month so far in 2013 was March, during which we closed $154 million,” said Gene Taylor, executive vice president and director of sales and agent development. “Our biggest month in 2012 was June, during which we closed $152 million.”
Year to date, BFSIR closings are up 28 percent over the same period last year. Number of units sold is up 47 percent over last year.
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