Struggling with a lack of housing inventory, the North Richland Hills market proved to be a challenging one for buyers in 2016. December proved no exception, as prices jumped with many buyers looking but fewer choices.

“December was quiet compared to what we’ve come to expect for North Richland Hills in this market cycle,” said James Martin, president of the MetroTex Association of REALTORS. “The number of sales was comparatively high, and overall average prices increased in December with very low inventory.”

According to the monthly housing report released by MetroTex, there were 120active listings on the market in North Richland Hills in December and 78 closed sales, a 5.4 percent increase from 2015. The December dollar volume of sales in North Richland Hills increased 12.8 percent year-over-year to $19,020,975. The average price in December was $243,859, up 7.0 percent from last year, while the median price was $212,000, up 3.1 percent compared to December last year.

North Richland Hills’s monthly housing inventory was 1.4 months in December. The Real Estate Center at Texas A&M University contends that 6.5 months of inventory represents a market in which supply and demand for homes is balanced.

Homes spent an average of 21 days on the market in December.

North Richland Hills 2016 Market Summary

• 1,013                      Homes sold, 1.7 percent higher than 2015.
• $248,194,145       Sales dollar volume for 2016, up 11.2 percent year-over-year.
• $245,009               Average sales price for homes, 9.3 percent more than 2015.
• $210,000               Median sales price for homes, a 8.5 percent increase over 2015.
• 25                           Average number of days homes spent on the market in 2016.
• 135                         Average number of active home listings on the market in 2016.
• $109                       Average price per square foot in 2016, up 9.9 percent year-over-year.

2016 North Texas Market Overall – New records set

• 101,529                 Homes sold, beating a 10-year-old record of 95,509 sales. This year’s result is 8 percent higher than 2015.
• $28,050,996,211 Total dollar volume of sales, up 13 percent from 2015 and sets a new record in dollar volume.
• $225,000               Median sales price for homes, 10 percent more than 2015, a record high.
• $276,286               Average sales price for homes, a 7 percent increase over 2015, a record high.
• 42                           Average number of days homes spent on the market in 2016.
• 18,355                   Average active home listings on the market in 2016, a 1 percent drop.
• $119                       Average price per square foot, up 7 percent year-over-year.

Celebrating 100 years of service in North Texas, MetroTex is the area’s largest REALTOR association.  We are an advocate for homeowners, private property rights, the real estate industry, and real estate professionals. MetroTex is comprised of more than 18,000 members.

Struggling with a lack of housing inventory, the Midlothian market proved to be a challenging one for buyers in 2016. December proved no exception, as sales jumped with many buyers but fewer choices.

“December was quiet compared to what we’ve come to expect for Midlothian in this market cycle,” said James Martin, president of the MetroTex Association of REALTORS. “The number of sales was comparatively high, and overall average prices were flat in December with very low inventory.”

According to the monthly housing report released by MetroTex, there were 86 active listings on the market in Midlothian in December and 42 closed sales, a 7.7 percent increase from 2015. The December dollar volume of sales in Midlothian increased 8.3 percent year-over-year to $11,185,763. The average price in December was $266,328, up 0.5 percent from last year, while the median price was $268,000, down 0.7 percent compared to December last year.

Midlothian’s monthly housing inventory was 1.7 months in December. The Real Estate Center at Texas A&M University contends that 6.5 months of inventory represents a market in which supply and demand for homes is balanced.

Homes spent an average of 46 days on the market in December.

Midlothian 2016 Market Summary

• 601                         Homes sold, 9.3 percent higher than 2015.
• $166,236,988       Sales dollar volume for 2016, up 34.9 percent year-over-year.
• $276,601               Average sales price for homes, 23.5 percent more than 2015.
• $247,000               Median sales price for homes, a 12.6 percent increase over 2015.
• 46                           Average number of days homes spent on the market in 2016.
• 98                           Average number of active home listings on the market in 2016.
• $106                       Average price per square foot in 2016, up 9.5 percent year-over-year.

2016 North Texas Market Overall – New records set

• 101,529                 Homes sold, beating a 10-year-old record of 95,509 sales. This year’s result is 8 percent higher than 2015.
• $28,050,996,211 Total dollar volume of sales, up 13 percent from 2015 and sets a new record in dollar volume.
• $225,000               Median sales price for homes, 10 percent more than 2015, a record high.
• $276,286               Average sales price for homes, a 7 percent increase over 2015, a record high.
• 42                           Average number of days homes spent on the market in 2016.
• 18,355                   Average active home listings on the market in 2016, a 1 percent drop.
• $119                       Average price per square foot, up 7 percent year-over-year.

Celebrating 100 years of service in North Texas, MetroTex is the area’s largest REALTOR association.  We are an advocate for homeowners, private property rights, the real estate industry, and real estate professionals. MetroTex is comprised of more than 18,000 members.

Struggling with a lack of housing inventory, the McKinney market proved to be a challenging one for buyers in 2016. December proved no exception, as prices jumped with many buyers but fewer choices.

“December was quiet compared to what we’ve come to expect for McKinney in this market cycle,” said James Martin, president of the MetroTex Association of REALTORS. “The number of sales was comparatively low, and overall average prices increased quickly with very low inventory and high demand.”

According to the monthly housing report released by MetroTex, there were 492 active listings on the market in McKinney in December and 296 closed sales, an 8.4 percent decrease from 2015. The December dollar volume of sales in McKinney decreased 0.1 percent year-over-year to $98,436,095. The average price in December was $332,554, up 9.0 percent from last year, while the median price was $305,000, up 11.7 percent compared to December last year.

McKinney’s monthly housing inventory was 1.6 months in December. The Real Estate Center at Texas A&M University contends that 6.5 months of inventory represents a market in which supply and demand for homes is balanced.

Homes spent an average of 47 days on the market in December.

McKinney 2016 Market Summary

• 3,678                      Homes sold, 0.5 percent higher than 2015.
• $1,173,258,793   Sales dollar volume for 2016, up 7.0 percent year-over-year.
• $319,254               Average sales price for homes, 6.5 percent more than 2015.
• $291,008               Median sales price for homes, a 7.8 percent increase over 2015.
• 33                           Average number of days homes spent on the market in 2016.
• 628                         Average number of active home listings on the market in 2016.
• $125                       Average price per square foot in 2016, up 8.5 percent year-over-year.

2016 North Texas Market Overall – New records set

• 101,529                 Homes sold, beating a 10-year-old record of 95,509 sales. This year’s result is 8 percent higher than 2015.
• $28,050,996,211 Total dollar volume of sales, up 13 percent from 2015 and sets a new record in dollar volume.
• $225,000               Median sales price for homes, 10 percent more than 2015, a record high.
• $276,286               Average sales price for homes, a 7 percent increase over 2015, a record high.
• 42                           Average number of days homes spent on the market in 2016.
• 18,355                   Average active home listings on the market in 2016, a 1 percent drop.
• $119                       Average price per square foot, up 7 percent year-over-year.

Celebrating 100 years of service in North Texas, MetroTex is the area’s largest REALTOR association.  We are an advocate for homeowners, private property rights, the real estate industry, and real estate professionals. MetroTex is comprised of more than 18,000 members.

Struggling with a lack of housing inventory, the Little Elm market proved to be a challenging one for buyers in 2016. December proved no exception, as prices jumped with many buyers but fewer choices.

“December was pretty astounding, even for what we’ve come to expect for Little Elm in this market cycle,” said James Martin, president of the MetroTex Association of REALTORS. “The number of sales was comparatively high, and overall average prices increased quickly with very low inventory and high demand.”

According to the monthly housing report released by MetroTex, there were 108 active listings on the market in Little Elm in December and 74 closed sales, a 7.3 percent increase from 2015. The December dollar volume of sales in Little Elm increased 22.3 percent year-over-year to $20,991,964. The average price in December was $283,675, up 14 percent from last year, while the median price was $265,430, up 13.9 percent compared to December last year.

Little Elm’s monthly housing inventory was 1.5 months in December. The Real Estate Center at Texas A&M University contends that 6.5 months of inventory represents a market in which supply and demand for homes is balanced.

Homes spent an average of 37 days on the market in December.

Little Elm 2016 Market Summary

• 862                         Homes sold, 5.9 percent lower than 2015.
• $235,422,644       Sales dollar volume for 2016, up 4.0 percent year-over-year.
• $273,112               Average sales price for homes, 10.5 percent more than 2015.
• $259,500               Median sales price for homes, a 9.5 percent increase over 2015.
• 29                           Average number of days homes spent on the market in 2016.
• 131                         Average number of active home listings on the market in 2016.
• $113                       Average price per square foot in 2016, up 10.1 percent year-over-year.

2016 North Texas Market Overall – New records set

• 101,529                 Homes sold, beating a 10-year-old record of 95,509 sales. This year’s result is 8 percent higher than 2015.
• $28,050,996,211 Total dollar volume of sales, up 13 percent from 2015 and sets a new record in dollar volume.
• $225,000               Median sales price for homes, 10 percent more than 2015, a record high.
• $276,286               Average sales price for homes, a 7 percent increase over 2015, a record high.
• 42                           Average number of days homes spent on the market in 2016.
• 18,355                   Average active home listings on the market in 2016, a 1 percent drop.
• $119                       Average price per square foot, up 7 percent year-over-year.

Celebrating 100 years of service in North Texas, MetroTex is the area’s largest REALTOR association.  We are an advocate for homeowners, private property rights, the real estate industry, and real estate professionals. MetroTex is comprised of more than 18,000 members.

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Struggling with a lack of housing inventory, the Lancaster market proved to be a challenging one for buyers in 2016. December proved no exception, as the prices jumped with many buyers but fewer choices.

“December was pretty astounding, even for what we’ve come to expect for Lancaster in this market cycle,” said James Martin, president of the MetroTex Association of REALTORS. “The number of sales was comparatively steady, and overall average prices are increasing with low inventory and high demand.”

According to the monthly housing report released by MetroTex, there were 35 active listings on the market in Lancaster in December and 44 closed sales, a 25.7 percent increase from 2015. The December dollar volume of sales in Lancaster increased 44.1 percent year-over-year to $6,642,603. The average price in December was $150,968, up 14.6 percent from last year, while the median price was $155,763, up 24.6 percent compared to December last year.

Lancaster’s monthly housing inventory was 1.0 months in December. The Real Estate Center at Texas A&M University contends that 6.5 months of inventory represents a market in which supply and demand for homes is balanced.

Homes spent an average of 38 days on the market in December.

Lancaster 2016 Market Summary

• 433                         Homes sold, 27.7 percent higher than 2015.
• $58,972,046         Sales dollar volume for 2016, up 43.0 percent year-over-year.
• $136,194               Average sales price for homes, 12 percent more than 2015.
• $139,900               Median sales price for homes, an 11.9 percent decrease over 2015.
• 39                           Average number of days homes spent on the market in 2016.
• 49                           Average number of active home listings on the market in 2016.
• $73                         Average price per square foot in 2016, up 13.2 percent year-over-year.

2016 North Texas Market Overall – New records set

• 101,529                 Homes sold, beating a 10-year-old record of 95,509 sales. This year’s result is 8 percent higher than 2015.
• $28,050,996,211 Total dollar volume of sales, up 13 percent from 2015 and sets a new record in dollar volume.
• $225,000               Median sales price for homes, 10 percent more than 2015, a record high.
• $276,286               Average sales price for homes, a 7 percent increase over 2015, a record high.
• 42                           Average number of days homes spent on the market in 2016.
• 18,355                   Average active home listings on the market in 2016, a 1 percent drop.
• $119                       Average price per square foot, up 7 percent year-over-year.

Celebrating 100 years of service in North Texas, MetroTex is the area’s largest REALTOR association.  We are an advocate for homeowners, private property rights, the real estate industry, and real estate professionals. MetroTex is comprised of more than 18,000 members.

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