High Demand and High Volume Smash Records Across the Area
Rainy weather and flooding couldn’t dampen area home sales in June, according to the latest sales figures from the MetroTex Association of REALTORS®. For the first time ever, there were more than 10,500 homes sold in North Texas last month, shattering the previous record by 1,000 homes. In South Oak Cliff, 38 homes were sold.
“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:
- In South Oak Cliff, Sales were down 21% from last year.
- The average sales price in South Oak Cliff is $89,808, a 25% increase over last year.
- Average sales price is 98% of list price when listed with a REALTOR®
- Homes are selling in 42 days on average in South Oak Cliff days.
- Available homes fell to 51, or a 1.6 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 DFWRealEstate.com.