MetroTex Association of REALTORS releases real estate statistics for Park Cities in September 2016

Prices and sales volume continued to tick upward during the third quarter of 2016 in North Texas, according to a monthly housing market report released today by the MetroTex Association of REALTORS.

“September sales were on pace with a busy third quarter,” said Russell Berry, president of MetroTex. “With the market showing no signs of slowing, we are expecting a strong finish to the end of the year. It’s amazing to think that in North Texas, the average price is up nearly 45 percent from just five years ago.”

According to the report, 9,537 homes were sold in North Texas in September, an 11 percent increase over September 2015, and dollar volume was up an astonishing 22 percent over the same time period.

Rising prices in Park Cities reflected the busy market. According to the report, 38 homes were sold in the Park cities area in September. The median price for Highland Park area homes increased 55.1 percent year-over-year to $1,532,000 and in University Park , the median price was $1,270,000.

Highland Park

• 13 – Homes sold, 85.7 percent higher than September 2015.
• $1,532,000 – Median sales price for homes, 55.1 percent more than September 2015.
• $2,100,308 – Averagesales price for homes, a 6.1 percent increase over September 2015.
• 109 – Average number of days homes spent on the market in September 2016.
• 8.8 – Monthly housing inventory in September 2016.
• 128 – Active home listings on the market in September 2016.
• $436 – Average price per square foot, a 4.1 percent decrease over September 2015.

University Park

• 25 – Homes sold, 4.2 percent higher than September 2015.
• $1,270,000 – Median sales price for homes, 8.0 percent less than September 2015.
• $1,376,969 – Averagesales price for homes, an 18.1 percent increase over September 2015.
• 72 – Average number of days homes spent on the market in September 2016.
• 5.2 – Monthly housing inventory in September 2016.
• 133 – Active home listings on the market in September 2016.
• $337 – Average price per square foot, an 8.0 percent decrease over September 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.