A new school year and a new house is on the books for a record number of North Texans this year, according to the latest sales figures from the MetroTex Association of REALTORS®. For the first time ever, sales volume of single family homes in the area crested past $2.6 billion shattering the record set in July by $500 million.

“There’s certainly a lot of energy in the area right now,” said Steve Habgood, president of MetroTex. “We’re seeing all areas of the market growing – from sales of single family homes and condos to leases and new construction. The market is booming as the population continues to surge.”

“MetroTex REALTORS® report both a high volume and increasing sales prices,” continued Habgood. “With a growing economy, lots of relocation traffic and low interest rates, it’s a great time to be in the market.”

Highlights of the MetroTex report include:

• 10,223 homes were sold in the area in August, a 13% increase over last year.
• The average sales price in Dallas-Fort Worth area is $262,413, an 8% increase over last year.
• Average sales price is 98.2% of list price when listed with a REALTOR®
• Sales volume for the year so far is more than a staggering $17 billion, a 14% increase over last year.

• Top selling areas included:

  • SE Denton County with 534 sales and 487 pending

  • (North and West) Denton County with 529 sales and 514 pending

  • Frisco/Denton County East with 421 sales and 356 pending

  • Plano with 397 sales and 368 pending

  • McKinney with 299 sales and 261 pending

    Addison, North Dallas and Oak Lawn saw strong growth in the condo market with tight inventory and increasing prices. Average prices in those markets range from $124 per square foot in Addison to $237 in Oak Lawn.

    Rent is also on the rise overall for 2015. The average rent in the area increased to over $1600 in April and has been ticking upwards ever since. In August, the average rent in DFW was $1,667.

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 DFWRealEstate.com.