Market gets hotter in the burgeoning economy

The hot summer housing market in Southlake is showing no signs of cooling down, says MetroTex Association of REALTORS®. And melting inventory means area buyers are really feeling the heat, according to the latest sales figures. With 4.2 months inventory available in Southlake, home prices are rising steadily.

“It’s a very active market,” said Steve Habgood, president of MetroTex. “There are a lot of house coming on the market and they’re being sold within a few weeks, generally speaking.”

Highlights of the MetroTex report include:

• In Southlake, the number of homes sold was 80, an increase of2.5% from last year.
• The average sales price in Southlake was $787,350, a 12.7% increase over last year.
• Average sales price is 97.9% of list price when listed with a REALTOR®
• Homes are selling in 40 days on average in Southlake these days.

• There were 207 available homes in Southlake, or a 4.2 month inventory. Three months inventory is considered a healthy market.

MetroTex represents more than 15,000 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 www.DFWRealEstate.com.