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 Mansfield in particular, there were 103 sales. Total dollar volume decreased 0.3 percent to $30.9 million. Mansfield’s monthly housing inventory was 1.7 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 164 active single family listings for the Mansfield housing market.

March 2017 in Mansfield

• 103               Homes sold, down 13.5 percent from March 2016.
• $264,900     Median sales price for homes, 5.1 percent higher than March 2016.
• $300,352     Average sales price for homes, a 15.2 percent increase from March 2016.
• 1.7                Monthly housing inventory in March 2017.
• 43                 Average number of days homes spent on the market in March 2017.
• 164               Active listings on the market in March 2017.
• $114             Average price per square foot for a single family home, up 16.1 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 Keller in particular, there were 76 sales. Total dollar volume increased 22.7 percent to $47.3 million. Keller’s monthly housing inventory was 2.6 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 49 days on the market in March. There were 194 active single family listings for the Keller housing market.

March 2017 in Keller

• 76                 Homes sold, up 4.1 percent from March 2016.
• $424,000     Median sales price for homes, 17.8 percent higher than March 2016.
• $449,530     Average sales price for homes, a 17.9 percent increase from March 2016.
• 2.6                Monthly housing inventory in March 2017.
• 49                 Average number of days homes spent on the market in March 2017.
• 194               Active listings on the market in March 2017.
• $142             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.

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 Plano in particular, there were 335 sales. Total dollar volume increased 18.4 percent to $139.5 million. Plano’s monthly housing inventory was 1.8 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 34 days on the market in March. There were 517 active single family listings for the Plano housing market.

March 2017 in Plano

• 335               Homes sold, up 18.4 percent from March 2016.
• $349,500     Median sales price for homes, 15.9 percent higher than March 2016.
• $416,459     Average sales price for homes, a 22.7 percent increase from March 2016.
• 1.8                Monthly housing inventory in March 2017.
• 34                 Average number of days homes spent on the market in March 2017.
• 517               Active listings on the market in March 2017.
• $144             Average price per square foot for a single family home, up 12.1 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 Murphy in particular, there were 31 sales. Total dollar volume increased 81.3 percent to $12.95 million. Murphy’s monthly housing inventory was 1.6 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 27 days on the market in March. There were 43 active single family listings for the Murphy housing market.

March 2017 in Murphy

• 31                 Homes sold, up 63.2 percent from March 2016.
• $416,000     Median sales price for homes, 24.2 percent higher than March 2016.
• $417,820     Average sales price for homes, an 11.1 percent increase from March 2016.
• 1.6                Monthly housing inventory in March 2017.
• 27                 Average number of days homes spent on the market in March 2017.
• 43                 Active listings on the market in March 2017.
• $118             Average price per square foot for a single family home, up 1.4 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 Richardson in particular, there were 96 sales. Total dollar volume increased 11.6 percent to $27.7 million. Richardson’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 21 days on the market in March. There were 158 active single family listings for the Richardson housing market.

March 2017 in Richardson

• 96                 Homes sold, up 11.6 percent from March 2016.
• $279,960     Median sales price for homes, 18.6 percent higher than March 2016.
• $288,992     Average sales price for homes, a 15.1 percent increase from March 2016.
• 1.5                Monthly housing inventory in March 2017.
• 21                 Average number of days homes spent on the market in March 2017.
• 158               Active listings on the market in March 2017.
• $143             Average price per square foot for a single family home, up 14.4 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.