High Demand Shrinks Available Inventory
Rainy weather and flooding couldn’t dampen area home sales in June, according to the latest sales figures from the MetroTex Association of REALTORS®. In Hurst, that meant rising prices and fewer houses on the market.
“Our strong economy keeps pulling people into the area,” said Steve Habgood, president of MetroTex. “Spring and early summer are typically very active times in the market, and the influx of so many newcomers to the area has really pushed the market to a new level. We do anticipate the market will continue at or near this pace for some time.”
“MetroTex REALTORS® are seeing a tremendous variety in the market from a consumer standpoint,” continued Habgood. “North Texas is adding tens of thousands of people from all over the world every year.”
Highlights of the MetroTex report include:
- Prices in Hurst continue to rise. The average home sold for $93 per square foot, up from $91 a year ago.
- Inventory continues to shrink. There is currently a one-month supply of homes in Hurst, indicating a strong buyers market.
- Average sales price is 100% of list price when listed with a REALTOR®
- Most homes were on the market for 20 days.
- Hurst is ranked as one of the hottest markets in North Texas. A hot market is measured by the ratio of pending sales to the number of active listings. Hurst had more pending sales than active listings in June.
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.
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