Well-heeled buyers seem to be trading in their Louboutins for cowboy boots this spring. An unexpectedly   massive spike in luxury home sales led the housing market in the first quarter for the Dallas-Fort Worth area, according to the market report released today by the MetroTex Association of REALTORS.

“Our biggest growth category in March was in homes priced at a million or more,” said James Martin, president of MetroTex. “There’s a healthy amount of inventory in the luxury home category, and the buyers are certainly out there. It’s a market segment that we are watching closely these days. We’ve certainly seen prices trending upward over the past several years, but the first quarter was remarkable. We’re talking about a 70 percent increase compared to March of last year.”

While luxury sales are growing, Martin also acknowledged that the bulk of sales in North Texas remains in the range of $200,000 - $500,000. According to the report, 9,573 homes were sold in the DFW area in March, a 12 percent increase from 2016. The dollar volume of sales in the area increased 25 percent year-over-year to $2.86 billion. The average sales price increased 11 percent to $298,356.

For Garland in particular, there were 238 sales. Total dollar volume increased 42.8 percent to $47,060,417. Garland’s monthly housing inventory was 1.2 months in March. According to the Real Estate Center at Texas A&M University, a balanced market between buyers and sellers is achieved at about 6.5 months of inventory.

Single family homes spent an average of 22 days on the market in March. There were 238 active single family listings for the Garland housing market.

March 2017 in Garland

• 238               Homes sold, 20.2 percent higher than March 2016.
• $181,176     Median sales price for homes, 16.9 percent higher than March 2016.
• $197,733     Average sales price for homes, an 18.8 percent increase from March 2016.
• 1.2                Monthly housing inventory in March 2017.
• 22                 Average number of days homes spent on the market in March 2017.
• 238               Active listings on the market in March 2017.
• $108             Average price per square foot for a single family home, up 15.5 percent year-over-year.

New records set in March 2017 for DFW

• Homes sold in March. Sales for single family homes sold in March beat the previous record set last year by more than 1,000 units, an increase of 13.3 percent.
  • Median sales price for single family homes. The previous record of $237,000 was set in July 2016.
  • Average sales price for homes. The previous record of $289,204 was set in June 2016.
  • Number of active listings in March. Last year’s record was bested by more than 1,000 homes.
  • Average price per square foot for a single family home. The previous record was $124 per square foot, in February 2017.

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.

Well-heeled buyers seem to be trading in their Louboutins for cowboy boots this spring. An unexpectedly   massive spike in luxury home sales led the housing market in the first quarter for the Dallas-Fort Worth area, according to the market report released today by the MetroTex Association of REALTORS.

“Our biggest growth category in March was in homes priced at a million or more,” said James Martin, president of MetroTex. “There’s a healthy amount of inventory in the luxury home category, and the buyers are certainly out there. It’s a market segment that we are watching closely these days. We’ve certainly seen prices trending upward over the past several years, but the first quarter was remarkable. We’re talking about a 70 percent increase compared to March of last year.”

While luxury sales are growing, Martin also acknowledged that the bulk of sales in North Texas remains in the range of $200,000 - $500,000. According to the report, 9,573 homes were sold in the DFW area in March, a 12 percent increase from 2016. The dollar volume of sales in the area increased 25 percent year-over-year to $2.86 billion. The average sales price increased 11 percent to $298,356.

For Flower Mound in particular, there were 115 sales. Total dollar volume decreased 7.1 percent to $49,087,521. Flower Mound’s monthly housing inventory was 2.1 months in March. According to the Real Estate Center at Texas A&M University, a balanced market between buyers and sellers is achieved at about 6.5 months of inventory.

Single family homes spent an average of 37 days on the market in March. There were 232 active single family listings for the Flower Mound housing market.

March 2017 in Flower Mound

• 115               Homes sold, 5.7 percent lower than March 2016.
• $400,000     Median sales price for homes, 19.5 percent higher than March 2016.
• $426,848     Average sales price for homes, a 1.4 percent decrease from March 2016.
• 2.1                Monthly housing inventory in March 2017.
• 37                 Average number of days homes spent on the market in March 2017.
• 232               Active listings on the market in March 2017.
• $139             Average price per square foot for a single family home, up 2.2 percent year-over-year.

New records set in March 2017 for DFW

• Homes sold in March. Sales for single family homes sold in March beat the previous record set last year by more than 1,000 units, an increase of 13.3 percent.
  • Median sales price for single family homes. The previous record of $237,000 was set in July 2016.
  • Average sales price for homes. The previous record of $289,204 was set in June 2016.
  • Number of active listings in March. Last year’s record was bested by more than 1,000 homes.
  • Average price per square foot for a single family home. The previous record was $124 per square foot, in February 2017.

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.

Well-heeled buyers seem to be trading in their Louboutins for cowboy boots this spring. An unexpectedly   massive spike in luxury home sales led the housing market in the first quarter for the Dallas-Fort Worth area, according to the market report released today by the MetroTex Association of REALTORS.

“Our biggest growth category in March was in homes priced at a million or more,” said James Martin, president of MetroTex. “There’s a healthy amount of inventory in the luxury home category, and the buyers are certainly out there. It’s a market segment that we are watching closely these days. We’ve certainly seen prices trending upward over the past several years, but the first quarter was remarkable. We’re talking about a 70 percent increase compared to March of last year.”

While luxury sales are growing, Martin also acknowledged that the bulk of sales in North Texas remains in the range of $200,000 - $500,000. According to the report, 9,573 homes were sold in the DFW area in March, a 12 percent increase from 2016. The dollar volume of sales in the area increased 25 percent year-over-year to $2.86 billion. The average sales price increased 11 percent to $298,356.

For Farmers Branch in particular, there were 33 sales. Total dollar volume increased 15.9 percent to $9,022,819. Farmers Branch’s monthly housing inventory was 2.3 months in March. According to the Real Estate Center at Texas A&M University, a balanced market between buyers and sellers is achieved at about 6.5 months of inventory.

Single family homes spent an average of 23 days on the market in March. There were 61 active single family listings for the Farmers Branch housing market.

March 2017 in Farmers Branch

• 33                 Homes sold, 6.5 percent higher than March 2016.
• $232,500     Median sales price for homes, 1.1 percent higher than March 2016.
• $273,419     Average sales price for homes, an 8.8 percent increase from March 2016.
• 2.3                Monthly housing inventory in March 2017.
• 23                 Average number of days homes spent on the market in March 2017.
• 61                 Active listings on the market in March 2017.
• $144             Average price per square foot for a single family home, up 15.1 percent year-over-year.

New records set in March 2017 for DFW

• Homes sold in March. Sales for single family homes sold in March beat the previous record set last year by more than 1,000 units, an increase of 13.3 percent.
  • Median sales price for single family homes. The previous record of $237,000 was set in July 2016.
  • Average sales price for homes. The previous record of $289,204 was set in June 2016.
  • Number of active listings in March. Last year’s record was bested by more than 1,000 homes.
  • Average price per square foot for a single family home. The previous record was $124 per square foot, in February 2017.

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.

Well-heeled buyers seem to be trading in their Louboutins for cowboy boots this spring. An unexpectedly   massive spike in luxury home sales led the housing market in the first quarter for the Dallas-Fort Worth area, according to the market report released today by the MetroTex Association of REALTORS.

“Our biggest growth category in March was in homes priced at a million or more,” said James Martin, president of MetroTex. “There’s a healthy amount of inventory in the luxury home category, and the buyers are certainly out there. It’s a market segment that we are watching closely these days. We’ve certainly seen prices trending upward over the past several years, but the first quarter was remarkable. We’re talking about a 70 percent increase compared to March of last year.”

While luxury sales are growing, Martin also acknowledged that the bulk of sales in North Texas remains in the range of $200,000 - $500,000. According to the report, 9,573 homes were sold in the DFW area in March, a 12 percent increase from 2016. The dollar volume of sales in the area increased 25 percent year-over-year to $2.86 billion. The average sales price increased 11 percent to $298,356.

For North Richland Hills in particular, there were 81 sales. Total dollar volume increased 21.3 percent to $23.2 million. North Richland Hills’s monthly housing inventory was 1.5 months in March. According to the Real Estate Center at Texas A&M University, a balanced market between buyers and sellers is achieved at about 6.5 months of inventory.

Single family homes spent an average of 32 days on the market in March. There were 127 active single family listings for the North Richland Hills housing market.

March 2017 in North Richland Hills

• 81                 Homes sold, up 6.6 percent from March 2016.
• $270,000     Median sales price for homes, 19.9 percent higher than March 2016.
• $286,359     Average sales price for homes, a 13.8 percent increase from March 2016.
• 1.5                Monthly housing inventory in March 2017.
• 32                 Average number of days homes spent on the market in March 2017.
• 127               Active listings on the market in March 2017.
• $119             Average price per square foot for a single family home, up 12.4 percent year-over-year.

New records set in March 2017 for DFW

• Homes sold in March. Sales for single family homes sold in March beat the previous record set last year by more than 1,000 units, an increase of 13.3 percent.
  • Median sales price for single family homes. The previous record of $237,000 was set in July 2016.
  • Average sales price for homes. The previous record of $289,204 was set in June 2016.
  • Number of active listings in March. Last year’s record was bested by more than 1,000 homes.
  • Average price per square foot for a single family home. The previous record was $124 per square foot, in February 2017.

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.

Well-heeled buyers seem to be trading in their Louboutins for cowboy boots this spring. An unexpectedly   massive spike in luxury home sales led the housing market in the first quarter for the Dallas-Fort Worth area, according to the market report released today by the MetroTex Association of REALTORS.

“Our biggest growth category in March was in homes priced at a million or more,” said James Martin, president of MetroTex. “There’s a healthy amount of inventory in the luxury home category, and the buyers are certainly out there. It’s a market segment that we are watching closely these days. We’ve certainly seen prices trending upward over the past several years, but the first quarter was remarkable. We’re talking about a 70 percent increase compared to March of last year.”

While luxury sales are growing, Martin also acknowledged that the bulk of sales in North Texas remains in the range of $200,000 - $500,000. According to the report, 9,573 homes were sold in the DFW area in March, a 12 percent increase from 2016. The dollar volume of sales in the area increased 25 percent year-over-year to $2.86 billion. The average sales price increased 11 percent to $298,356.

For McKinney in particular, there were 282 sales. Total dollar volume increased 10.1 percent to $93.5 million. McKinney’s monthly housing inventory was 2.3 months in March. According to the Real Estate Center at Texas A&M University, a balanced market between buyers and sellers is achieved at about 6.5 months of inventory.

Single family homes spent an average of 43 days on the market in March. There were 696 active single family listings for the McKinney housing market.

March 2017 in McKinney

• 282               Homes sold, up 2.6 percent from March 2016.
• $305,750     Median sales price for homes, 7.3 percent higher than March 2016.
• $331,563     Average sales price for homes, an 7.4 percent increase from March 2016.
• 2.3                Monthly housing inventory in March 2017.
• 43                 Average number of days homes spent on the market in March 2017.
• 696               Active listings on the market in March 2017.
• $132             Average price per square foot for a single family home, up 9.2 percent year-over-year.

New records set in March 2017 for DFW

• Homes sold in March. Sales for single family homes sold in March beat the previous record set last year by more than 1,000 units, an increase of 13.3 percent.
  • Median sales price for single family homes. The previous record of $237,000 was set in July 2016.
  • Average sales price for homes. The previous record of $289,204 was set in June 2016.
  • Number of active listings in March. Last year’s record was bested by more than 1,000 homes.
  • Average price per square foot for a single family home. The previous record was $124 per square foot, in February 2017.

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.