“We experienced a huge increase in listings and sales in February,” said Russell Berry, president of the MetroTex Association of Realtors.
“New listings were up 20% over last year, and sales increased by a staggering 22% last month,” said Berry. “What’s really exciting about that is the fact that 2015 shattered all kinds of records in the real estate market, and 2016 is vigorously outperforming last year’s numbers.”
The local market is surging past expectation both in terms of the size of the market and housing prices, according to the monthly market report released by MetroTex Market. Highlights of the report include:
- There were 77 sales of single family homes in Wylie in February, a 26% increase over 2015.
- The average price per square foot for single family homes in the area is $104, an 8.3% increase.
- The average sales price in Wylie in January was $259,295, a 6% increase over last year.
- There are 89 homes under contract and waiting to close, a 14% increase.
- There were 139 active listings in the area, a 29% increase from February 2015.
- Houses are selling in an average of 34 days.
- There is approximately 1.3 months inventory in the area. Less than 3 months inventory is considered a strong seller’s market.
MetroTex represents more than 16,000 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.