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Desoto Market Growing at Incredible Pace

More people are selling homes in the Dallas-Fort Worth area than ever before, and they’re propelling the DFW real estate market even deeper into record territory, and Desoto is an active part of that market

“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 50 sales of single family homes in DeSoto in January, an 8.7% increase over January 2015.
  • The average price per square foot for single family homes in the area is $80, a 19.4% increase.
  • The average sales price in DeSoto in January was $165,273.
  • There are 90 homes under contract and waiting to close, a 125% increase over last year.
  • There were 100 active listings in the area, a 5% increase from February 2015.
  • Houses are selling in an average of 32 days, down from 97 days in 2015.
  • Most homes sell for 98% of list price when sold through a MetroTex Realtor.
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Wednesday, March 9, 2016