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. Despite the storms in December, Lancaster 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 38 sales of single family homes in Lancaster in January, a 58.3% increase over January 2015.
- The average price per square foot for single family homes in the area is $65, a 10% increase.
- The average sales price in Lancaster in January was $112,875.
- There are 52 homes under contract and waiting to close, an increase of 63%.
- There were 43 active listings in the area.
- Houses are selling in an average of 45days, down from 56 days in 2015.
- Most homes sell for 98% of list price when sold through a MetroTex Realtor.