October sales set fall record

MetroTex Association of REALTORS releases real estate statistics for October 2016

North Texas has never seen an October housing market like the one in 2016, according to a monthly housing market report released today by the MetroTex Association of REALTORS.

“October in North Texas usually means a slowing real estate market,” said Russell Berry, president of MetroTex. “This year, October meant setting new record highs both in terms of number of homes sold and in dollar volume. While we have calmed down a bit from the summer frenzy, we’re still setting records. In fact, this is the first year on record to have 8 consecutive months with over $2 billion in sales.”

According to the report, 8,418 homes were sold in North Texas in October, an 8 percent increase from the year prior. The dollar volume in sales in North Texas increased 20 percent year-over-year to $2,336,171,778. The average price in October 2016 was $277,521 up 11 percent from last year.

North Texas’ monthly housing inventory fell to 2.2 months in October. The Real Estate Center at Texas A&M University cites that 6.5 months of inventory represents a market in which supply and demand for homes is balanced.

Homes spent an average of 42 days on the market in October. There were 19,326 active listings for the North Texas housing market during the same time frame, a 5 percent drop.

September 2016

  • 8,418 – Homes sold, 8 percent higher than October 2015.
  • $225,000 Median sales price for homes, 13 percent more than October 2015.
  • $277,521 Average sales price for homes, an 11 percent increase over October 2015.
  • 2.2 – Monthly housing inventory in October 2016.
  • 42 – Average number of days homes spent on the market in October 2016.
  • 19,326 – Active home listings on the market in October 2016.
  • $121 – Average price per square foot, up 10 percent year-over-year.

The MetroTex Association of REALTORS® represents more than 17,000 members involved in all aspects of the real estate industry. As the largest REALTOR® member association in North Texas, MetroTex represents the entire region. Established in 1917, MetroTex is an advocate for the real estate industry and private property rights. For more information, visit us online at DFWRealEstate.com.

 

Housing market strong in DFW in first half of year even as sales slowed in July

DFW home sales increased 6 percent to 58,865 sales in the first half of 2016, although July sales were down compared to last year, according to the July 2016 North Texas housing market report released today by the MetroTex Association of REALTORS.

“The demand for housing is undoubtedly strong,” said Russell Berry, president of MetroTex. “While we didn’t sell quite as many houses this July as we did last year, we’re still seeing more than 10,000 sales per month in the busy summer market – something that was unprecedented before last year. But with shrinking inventory, it’s difficult to maintain that pace. I have no doubt that we could see continued growth if more housing were available.”

According to the report, 10,011 homes were sold in North Texas in July 2016, a 2 percent decrease from the year prior. The median price for DFW area homes increased 9 percent year-over-year to $230,000 during the same time frame.

North Texas’ monthly housing inventory remained at 2.4 months in July 2016. The Real Estate Center at Texas A&M University cites that 6.5 months of inventory represents a market in which supply and demand for homes is balanced.

Homes spent an average of 36 days on the market in June 2016. There were 20,546 active listings for the North Texas housing market during the same time frame, a 4 percent drop.

July 2016

  • 10,011 – Homes sold, 2 percent fewer than June 2015. 
  • $230,000 Median sales price for homes, 9 percent more than June 2015.
  • $277,966 Average sales price for homes, 5 percent more than June 2015.
  • 2.4 – Monthly housing inventory in June 2016.
  • 36 – Average number of days homes spent on the market in June 2016.
  • 20,546 – Active home listings on the market in June 2016.

Market Snapshot at the end of the 2nd Quarter

  • 58,865 – Homes sold, 6 percent more than first half of 2015.
  • $16,113,575,977 – Total dollar volume of sales in North Texas in 2016, an 11 percent increase over first half of 2015.
  • $222,640 Median sales price for homes, 9 percent more than first half of 2015.
  • $273,738 Average sales price for homes, 5 percent more than first half of 2015.
  • 43 – Average number of days homes spent on the market in first half of 2016, down 8 percent.
  • 18,061 – Average monthly active home listings. Unchanged from 2015.

The MetroTex Association of REALTORS® represents more than 17,000 members involved in all aspects of the real estate industry. As the largest REALTOR® member association in North Texas, MetroTex represents the entire region. Established in 1917, MetroTex is an advocate for the real estate industry and private property rights. For more information, visit us online at DFWRealEstate.com.

DFW home sales increase 7 percent, home prices rise further

MetroTex Association of REALTORS releases real estate statistics for June 2016

DFW home sales increased 7 percent to 10,857 sales in June while home prices continued to rise, according to the June 2016 DFW housing market report released today by the MetroTex Association of REALTORS.

“We were astounded last year to reach 10,000 sales in a month, and now it seems like that’s going to be what our summer market looks like for a while,” said Russell Berry, president of MetroTex. “Inventory levels haven’t changed significantly, even with a higher number of listings, indicating there is a lot of pent up demand in the market.”

According to the report, 10,857 homes were sold in North Texas in June 2106, a 7 percent increase from the year prior. The median price for DFW area homes increased 8 percent year-over-year to $237,500 during the same time frame.

North Texas’ monthly housing inventory was 2.4 months in June 2016. The Real Estate Center at Texas A&M University cites that 6.5 months of inventory represents a market in which supply and demand for homes is balanced.

Homes spent an average of 37 days on the market in June 2016. Additionally, there were 19,715 active listings for the North Texas housing market during the same time frame.

June 2016

  • 10,857 – Homes sold, 7 percent more than June 2015.
  •  $237,500 Median sales price for homes, 8 percent more than June 2015.
  •  $290,225 Average sales price for homes, 5 percent more than June 2015.
  • 2.4 – Monthly housing inventory* in June 2016.
  •  37 – Average number of days homes spent on the market in June 2016.
  • 19,715 – Active home listings on the market in June 2016.

With a growing economy, booming population and high quality of life, Texas is a great place to live, work and do business. As such, the demand for Texas real estate remains strong and enduring. Texas Realtors continue to work daily to protect the rights of private-property owners, keep homeownership affordable, and promote public policies that benefit homeowners.

MetroTex represents more than 16,000 members involved in all aspects of the real estate industry. MetroTex is the largest REALTOR® member association in North Texas representing the entire region. Established in 1917, MetroTex is an advocate for the real estate industry and private property rights. For more information, visit us online at DFWRealEstate.com.

* The inventory of homes for a market can be measured in months, which is defined as the number of active listings divided by the average sales per month of the prior 12 months. 

Housing Market off to Strong Start for the 2nd Quarter

More than 9000 homes were sold in April in North Texas, further boosting an already bustling housing market.

“The second quarter is shaping up to be very exciting for North Texas,” said Russell Berry, president of the MetroTex Association of Realtors. “Especially when you consider the sales records already set in the first part of the year.”

“While houses aren’t staying on the market for long, there is a lot of turnover,” Berry continued. “We saw a 15% increase in the number of sales over last April and with nearly 18,000 homes on the market we can expect the strong sales figures to continue well into the year.”

Prices do continue to rise as the demand for housing continues to be strong. Most cities in North Texas saw price increases in all types of housing and in the price of land, according to a report released by the MetroTex Association of REALTORS today. Highlights of the report include:

  • There were 9,178 sales of single family homes in Dallas-Fort Worth in April, a 15% increase over April 2015.
  • The average price per square foot for single family homes in the area is $119, a 5% increase.
  • The average sales price in DFW in February was $274,368, a 4% increase over last year.
  • There are 10,210 homes under contract and waiting to close.
  • There were 11,958 new listings in the area, a 2% decrease from February 2015.
  • Houses are selling in an average of 41 days.
  • Most homes sell for 98.3% of list price when sold through a MetroTex Realtor.
  • There is approximately 2.4 months inventory in the area. Less than 3 months inventory is considered a strong seller’s market.

MetroTex represents more than 16,000 members involved in all aspects of the real estate industry. MetroTex is the largest REALTOR® member association in North Texas representing the entire region. Established in 1917, MetroTex is an advocate for the real estate industry and private property rights. For more information, visit us online at DFWRealEstate.com.

MetroTex Candidate Endorsements

The MetroTex Association of REALTORS actively supports candidates for office who have demonstrated knowledge and concern about housing in North Texas. Because our area is experiencing both tremendous growth and a burgeoning housing market, we need local leaders who understand the impact of key decisions on housing in their communities.  As you are no doubt aware, Dallas-Fort Worth is expecting a continuation of the enormous population boom for several more years. MetroTex maintains that it is critical for local governments to plan for the future by understanding homeowners’ concerns and to bolster homeownership in the area. Supporting those efforts is the Association’s top priority this election season. Through the candidate interview process with MetroTex, our endorsed candidates clearly showed a command of issues critical to sustaining our economy, as well as the needs and challenges our fast-growing area faces.

On May 7, 2016, Texas voters will go to the polls to elect candidates in local mayoral and city council races.  Early voting will be held Monday, April 25 – Tuesday, May 3, 2016.  During the early voting period, you may vote at any early voting location in the county in which you are registered.   For exact dates, times and early voting locations, please visit the website of the county in which you are registered. On Election Day, you must vote at the location that has been assigned to your precinct. Your polling place location number can be found on your voter’s registration card.  Polling places will be open from 7:00 a.m. – 7:00 p.m.   Election Day precinct polling places will be published in the Dallas Morning News and the Fort Worth Star-Telegram.

The following candidates have received Support of MetroTex Association of REALTORS® for the May 7, 2016 Municipal Election: 

Fast-Paced March Home Sales Signal Growing Market this Spring

The normally busy spring market came roaring into March and bore no signs of slowing any time soon.

“The robust market in Dallas-Fort Worth is stronger than ever,” said Russell Berry, president of the MetroTex Association of Realtors.

“Sales were up nearly 13% over last year. The turnover in homes is incredible,” said Berry. “We saw nearly 8,500 closed sales in the area in March. To put that in perspective, the Houston area closed about 6,600.”

The burgeoning Dallas-Fort Worth market is selling homes more quickly, too, according to the monthly market report released by MetroTex. Highlights of the report include:

  • Houses are closing in an average of 42 days, down from 53 days in March 2015.
  • There were 8,474 sales of single family homes in Dallas-Fort Worth in February, a 12.9% increase over March 2015.
  • The average price per square foot for single family homes in the area was $116, a 7.4% increase.
  • The average sales price in DFW in March was $276,577, a 5.1% increase over last year.
  • There are 7,827 homes under contract and waiting to close.
  • There were 11,144 new listings in the area, a 7.8% increase from March 2015.
  • Most homes sell for 98% of list price when sold through a MetroTex Realtor.
  • There is approximately 1.9 months inventory in the area. Less than 3 months inventory is considered a strong seller’s market.

MetroTex represents more than 16,000 members involved in all aspects of the real estate industry. MetroTex is the largest REALTOR® member association in North Texas representing the entire region. Established in 1917, MetroTex is an advocate for the real estate industry and private property rights. For more information, visit us online at DFWRealEstate.com.

North Texas Real Estate Market Growing at Record Pace

More people are selling homes in the Dallas-Fort Worth area than ever before, and they’re propelling the DFW real estate market even deeper into record territory.

“We experienced a huge increase in listings and sales in February,” said Russell Berry, president of the MetroTex Association of Realtors.

“New listings were up 20% over last year, and sales increased by a staggering 22% last month,” said Berry. “What’s really exciting about that is the fact that 2015 shattered all kinds of records in the real estate market, and 2016 is vigorously outperforming last year’s numbers.”

The local market is surging past expectation both in terms of the size of the market and housing prices, according to the monthly market report released by MetroTex Market. Highlights of the report include:

  • There were 6,836 sales of single family homes in Dallas-Fort Worth in January, a 22% increase over January 2015.
  • The average price per square foot for single family homes in the area is $111, a 4% increase.
  • The average sales price in DFW in January was $254,037, a 3% increase over last year.
  • There are 8,800 homes under contract and waiting to close.
  • There were 10,058 new listings in the area, a 20% increase from February 2015.
  • Houses are selling in an average of 52 days.
  • Most homes sell for 97.8% of list price when sold through a MetroTex Realtor.
  • There is approximately 2.8 months inventory in the area. Less than 3 months inventory is considered a strong seller’s market.