Sellers’ Market Continues as Inventory Remains Low
May 12, 2015 – DALLAS – The MetroTex Association of Realtors today released North Oak Cliff home sales figures for the month of April. MetroTex President Steve Habgood acknowledged North Oak Cliff’s continued demand for more housing inventory.
“Homeowners in North Oak Cliff on average can expect strong sale prices to continue as the number of available homes in the area is low and there are a lot of active buyers in the market,” said Habgood. “The housing inventory in North Oak Cliff is estimated to be at 1.7 months.”
Less than six months inventory is considered to be a sellers’ market by the industry.
Other highlights of the MetroTex report include:
- The average April sales price in North Oak Cliff was $179,371, an increase of 5% over the same time last year.
- Average Days on Market was 42.
- The number of available homes on the market in April was 141, compared to 204 in April 2014.
- The average price per square foot in North Oak Cliff increased from $107 in April 2014 to $109 in April 2015.
- The number of home sales in April was 89, a 10% increase over last year.
“North Oak Cliff is part of the nation’s most active housing market, and sellers are finding that they are getting very close to asking price when they align with current market data,” said Habgood. “In North Oak Cliff, homes listed with a REALTOR® are fetching 97% of asking price on average.”
MLS data provided in the report was gathered from North Texas Real Estate Information Systems, Inc. (NTREIS).
MetroTex represents more than 15,000 members involved in all aspects of the real estate industry. MetroTex is the largest REALTOR® member association in East 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.