Oak Cliff continues to experience a very active housing market this spring, with the average sales price rising nearly 19% percent.
“The second quarter is shaping up to be very exciting for the Oak Cliff area,” said Russell Berry, president of the MetroTex Association of Realtors. “Especially when you consider the sales records already set in the first part of the year.”
“While houses aren’t staying on the market for long, there is a lot of turnover,” Berry continued. “Across North Texas, we saw a 15% increase in the number of sales over last April. With nearly 18,000 homes on the market we can expect the strong sales figures to continue well into the year.”
Prices do continue to rise as the demand for housing continues to be strong. Oak Cliff saw mixed price results, with average existing home prices rising quickly and weaker prices in new construction, according to a report released by the MetroTex Association of REALTORS today. Highlights of the report include:
- There were 34 sales of residential properties in Oak Cliff in April, and 88 new listings.
- The average price per square foot for residential properties in the area is $108 in ZIP code 75203 and $189 in ZIP code 75208.
- The average sales price of all types of housing in Oak Cliff in April was $408,859 in ZIP code 75203 and $200,375 in ZIP code 75203.
- Homes sell for about 96% of list price when sold through a MetroTex Realtor on average.
- There is approximately 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.