With inventory at critically low levels in Duncanville, the housing market saw ever-increasing prices in February. With no new construction adding to the supply of homes in Duncanville, consumers often had to choose between waiting to buy or looking elsewhere, according to the market report released today by the MetroTex Association of REALTORS.

“Across the region, we’re still seeing a severe lack of inventory in homes priced below $500,000,” said James Martin, president of MetroTex. “That pressure is driving sales prices higher and higher. In some areas, new construction rates are up significantly over last year, but in Duncanville, supply still isn’t keeping up with demand. It’s a double-edged sword. We’re lucky enough to have a robust and dynamic economy right now. It keeps our region at the top of the Texas market and it’s bringing a lot of people into the area, but it does make the housing market very tight.”

According to the report, 25 homes were sold in Duncanville in February, an 8.7percent increase from 2016. The dollar volume of sales in Duncanville decreased 4.4 percent year-over-year to $3.5 million. The average sales price decreased 12 percent to $139,837.

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

Homes spent an average of 30 days on the market in February. There were 51 active listings for the Duncanville housing market.

February 2017

• 25                           Homes sold, 8.7 percent higher than February 2016.
• $139,000               Median sales price for homes, 7.3 percent lower than February 2016.
• $139,837               Average sales price for homes, a 12 percent decrease over February 2016.
• 1.5                          Monthly housing inventory in February 2017.
• 30                           Average number of days homes spent on the market in February 2017.
• 51                           Active listings on the market in February 2017.
• $54                         Average price per square foot for a single family home, up 4.5 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.

With inventory at critically low levels in Oak Lawn, the housing market saw ever-increasing prices in February. With no new construction adding to the supply of homes in Oak Lawn, consumers often had to choose between waiting to buy or looking elsewhere, according to the market report released today by the MetroTex Association of REALTORS.

“Across the region, we’re still seeing a severe lack of inventory in homes priced below $500,000,” said James Martin, president of MetroTex. “That pressure is driving sales prices higher and higher. In some areas, new construction rates are up significantly over last year, but in Oak Lawn, supply still isn’t keeping up with demand. It’s a double-edged sword. We’re lucky enough to have a robust and dynamic economy right now. It keeps our region at the top of the Texas market and it’s bringing a lot of people into the area, but it does make the housing market very tight.”

According to the report, 77 homes of all types were sold in Oak Lawn in February, a 34.2 percent decrease from 2016. The dollar volume of sales in Oak Lawn decreased 20.2 percent year-over-year to over $31.8 million. The average sales price increased 21.2 percent to $414,062.

Oak Lawn’s monthly housing inventory was 3.7 months in February. The Real Estate Center at Texas A&M University remarks that 6.5 months of inventory represents a market in which supply and demand for homes is balanced.

Homes spent an average of 60 days on the market in February. There were 397 active listings for the Oak Lawn housing market.

February 2017

• 77                           Homes sold, 34.2 percent lower than February 2016.
• $321,000               Median sales price for condominiums, 40.5 percent higher than February 2016.
• $347,749               Average sales price for homes, a 9.4 percent increase over February 2016.
• 3.5                          Monthly condominium inventory in February 2017.
• 53                           Average number of days homes spent on the market in February 2017.
• 397                         Active listings on the market in February 2017.
• $232                       Average price per square foot for a condominium, up 1.5 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.

With inventory at critically low levels in Corinth, the housing market saw ever-increasing prices in February. With little new construction adding to the supply of homes in Corinth, consumers often had to choose between waiting to buy or looking elsewhere, according to the market report released today by the MetroTex Association of REALTORS.

“Across the region, we’re still seeing a severe lack of inventory in homes priced below $500,000,” said James Martin, president of MetroTex. “That pressure is driving sales prices higher and higher. In some areas, new construction rates are up significantly over last year, but in Corinth, supply still isn’t keeping up with demand. It’s a double-edged sword. We’re lucky enough to have a robust and dynamic economy right now. It keeps our region at the top of the Texas market and it’s bringing a lot of people into the area, but it does make the housing market very tight.”

According to the report, 36 homes were sold in Corinth in February, a 9.1 percent increase from 2016. The dollar volume of sales in Corinth increased 10.5 percent year-over-year to over $8.5 million. The average sales price increased 1.3 percent to $238,644.

Corinth’s monthly housing inventory was 0.9 months in February. The Real Estate Center at Texas A&M University remarks that 6.5 months of inventory represents a market in which supply and demand for homes is balanced.

Homes spent an average of 31 days on the market in February. There were 32 active listings for the Corinth housing market.

February 2017

• 36                           Homes sold, 9.1 percent lower than February 2016.
• $233,200               Median sales price for homes, 8.5 percent higher than February 2016.
• $238,644               Average sales price for homes, a 1.3 percent increase over February 2016.
• 0.9                          Monthly housing inventory in February 2017.
• 31                           Average number of days homes spent on the market in February 2017.
• 32                           Active home listings on the market in February 2017.
• $110                       Average price per square foot for a single family home, up 11.8 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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With inventory at critically low levels in Colleyville, the housing market saw ever-increasing prices in February. With little new construction adding to the supply of homes in Colleyville, consumers often had to choose between waiting to buy or looking elsewhere, according to the market report released today by the MetroTex Association of REALTORS.

“Across the region, we’re still seeing a severe lack of inventory in homes priced below $500,000,” said James Martin, president of MetroTex. “That pressure is driving sales prices higher and higher. In some areas, new construction rates are up significantly over last year, but in Colleyville, supply still isn’t keeping up with demand. It’s a double-edged sword. We’re lucky enough to have a robust and dynamic economy right now. It keeps our region at the top of the Texas market and it’s bringing a lot of people into the area, but it does make the housing market very tight.”

According to the report, 43 homes were sold in Colleyville in February, a 34.4 percent increase from 2016. The dollar volume of sales in the county increased 42.3 percent year-over-year to over $25 million. The average sales price increased 5.9 percent to $586,880.

Colleyville’s monthly housing inventory was 2.9 months in February. The Real Estate Center at Texas A&M University remarks that 6.5 months of inventory represents a market in which supply and demand for homes is balanced.

Homes spent an average of 87 days on the market in February. There were 125 active listings for the Colleyville housing market.

February 2017

• 43                           Homes sold, 34.4 percent lower than February 2016.
• $509,579               Median sales price for homes, 4.2 percent higher than February 2016.
• $586,880               Average sales price for homes, a 5.9 percent increase over February 2016.
• 2.9                          Monthly housing inventory in February 2017.
• 87                           Average number of days homes spent on the market in February 2017.
• 125                         Active home listings on the market in February 2017.
• $160                       Average price per square foot for a single family home, up 6.0 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.

With inventory at critically low levels in Carrollton, the housing market struggled in February. With little new construction adding to the supply of homes in Carrollton, consumers often had to choose between waiting to buy or looking elsewhere, according to the market report released today by the MetroTex Association of REALTORS.

“Across the region, we’re still seeing a severe lack of inventory in homes priced below $500,000,” said James Martin, president of MetroTex. “That pressure is driving sales prices higher and higher. In some areas, new construction rates are up significantly over last year, but in Carrollton, supply still isn’t keeping up with demand. It’s a double-edged sword. We’re lucky enough to have a robust and dynamic economy right now. It keeps our region at the top of the Texas market and it’s bringing a lot of people into the area, but it does make the housing market very tight.”

According to the report, just 107 homes were sold in Carrollton in February, a 17.1 percent decrease from 2016. The dollar volume of sales in the county decreased 7.9 percent year-over-year to $30 million. The average sales price increased 11.0 percent to $280,779.

Carrollton’s monthly housing inventory was 1.3 months in February. The Real Estate Center at Texas A&M University remarks that 6.5 months of inventory represents a market in which supply and demand for homes is balanced.

Homes spent an average of 28 days on the market in February. There were 179 active listings for the Carrollton housing market.

February 2017

• 107                         Homes sold, 17.15 percent lower than February 2016.
• $265,000               Median sales price for homes, 18.6 percent higher than February 2016.
• $280,779               Average sales price for homes, an 11 percent increase over February 2016.
• 1.3                          Monthly housing inventory in February 2017.
• 28                           Average number of days homes spent on the market in February 2017.
• 179                         Active home listings on the market in February 2017.
• $129                       Average price per square foot for a single family home, up 7.1 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.