Dallas/Ft. Worth Real Estate Blog
Interested in what's going on in the real estate world of the Dallas, Texas area? Well, you've come to the right place. We'll post information about the buying and selling process, neighborhoods in the area, tips to save you money on getting the most from your sale or finding the best deal on your purchase! Our real estate agents are experts in the area and we want to share our knowledge with you so you will have the best buying or selling experience possible.
Second Largest Dallas-Fort Worth Area Home Sale in 15 Years
In April, the Dallas - Fort Worth housing market really took off with a 30 percent jump in housing sales. There has also been a 14 percent price rise from the prices exactly one year earlier. This is one of the biggest percent changes in the value of residential values on record in Dallas - Fort Worth area. There has only been one other time in history with the housing market grew this fast and that was in November of 2009. At that time, sales grew by 31 percent as a result of the government tax incentives.
Last month, real estate agents sold over 8,000 houses in Dallas - Fort Worth area. This is the most houses that have been sold since the middle of the year 2007. Last month single family home prices hit a record of a little over $170,000. This is approximately ten percent higher than what they were being sold for during middle of the year 2007.
There are some theories that suggest that there may be an imbalance between the number of buyers and the number of houses on the market. Experts believe that the imbalance could have been what caused the sales to go down by more than 20 percent last spring. Presently there is only a 3.3 month supply of homes being added to the market in this area. This is the lowest selection of houses on the market in the past 20 years.
Since April of 2012, there has been a 20 percent bump in the number of houses that have been placed under contract for purchase, but have not yet been closed. Experts believe that these numbers are likely to continue to rise during the summer months. This may be a great opportunity for buyers to take advantage of all the low mortgage rates and bigger house selections presently on the market. View all homes for sale in the Dallas - Fort Worth Area.