What was once considered real estate wisdom – the ideal time to list your home for sale is the traditional spring selling season – is no longer true for North Texas homeowners.
Year-over-year home sales for January and the low number of homes currently on the market means there’s no reason to wait until spring to list a home for sale. The latest numbers from North Texas Real Estate Information Systems offer quite a compelling case for getting a head start on the potential competition.
A few of the highlights from January:
* The average sales price for a North Texas home is up 8.9% to $229,522.
* The average list price is up 11.3% to $313,663.
* The percent of original list price received is up 0.6% to 96.9% of asking price.
* Finally, the average time a home is on the market is up 4.8%, but still is only 42 days.
If you’re considering listing your home, contact an Ebby Associate to find out what your home is worth and to devise a plan to get your home not just on the market, but sold. To find the right agent for your residential real estate needs, visit the award-winning ebby.com.
Existing-home sales rose strongly in May and inventory gains continued to help moderate price growth, according to a just-released report from the National Association of Realtors. All four regions of the country experienced sales gains compared to a month earlier.
Nationwide, existing home sales rose 4.9 percent in May, but remain 5 percent below May 2013. The 4.9 percent month-over-month gain in May was the highest monthly rise since August 2011. Closer to home, in the country’s South region, sales rose 5.7 percent in May, and were down only 0.5 percent from this time last year.
“Home buyers are benefiting from slower price growth due to the much-needed, rising inventory levels seen since the beginning of the year,” says Lawrence Yun, NAR chief economist. “Moreover, sales were helped by the improving job market and the temporary but slight decline in mortgage rates.”
The median existing-home price nationwide in May was $213,400, which is 5.1 percent above May 2013. In the South region, the median price was $184,800.
To learn more about the real estate market in your neighborhood — or your neighborhood of interest — or to determine what your property is worth, contact an Ebby Associate today. To find the ideal agent for your residential real estate needs, visit the award-winning ebby.com.
Dallas-area home prices rose by 11.8% in February, according to a just-released report from CoreLogic Inc.
Texas has now made up all the home price declines the state suffered in the recession, according to the research firm. Nationwide, prices were up 12.2 percent from the same time a year ago.
“As the spring home-buying season kicks off, house price appreciation continues to be strong,” said Dr. Mark Fleming, chief economist for CoreLogic. “Although prices should remain strong in the near term due to a short supply of homes on the market, price increases should moderate over the next year as home equity releases pent-up supply.”
According to the report, the states still experiencing the largest home price decreases since the economic downturn are Nevada (-39.9 percent), Florida (-36.4 percent), Rhode Island (-30.9 percent), Arizona (-30.5 percent) and West Virginia (-26.6 percent).
To learn more about the housing market in your specific area of interest, contact an Ebby Associate today. To get started, visit the award-winning ebby.com.
Dallas-area home prices rose by 10 percent in January, according to a new S&P/Case-Shiller Home Price Index report released today. While slightly less than the 10.2 percent gain in December, the new number is still close to an all-time high.
Nationwide, home prices were up 13.2 percent in January from the same month in 2013.
“The housing recovery may have taken a breather due to the cold weather,” S&P’s David M. Blitzer said in the report. “Twelve cities reported declining prices in January vs. December; eight of those were worse than the month before. From the bottom in 2012, prices are up 23 percent and the housing market is showing signs of moving forward with more normal price increases.”
Dallas-area price increases are now almost 5 percent ahead of where they were before the recession.
If you’re considering offering your home for sale, contact an Ebby Associate to learn more about the real estate market in your neighborhood and to find out what your home is worth in today’s market. To find the right agent for your residential real estate needs, visit the website voted one of the industry’s best by the Web Marketing Association, ebby.com.
We have great economic news today for all North Texans. Residential real estate sales at the Ebby Halliday Companies, which includes Ebby Halliday Realtors and Dave Perry-Miller & Associates, topped $6.4 billion in 2013. That’s a record in our 68-year history and, remarkably, is a 25 percent increase over 2012.
“We are so grateful to our valued clients – both home buyers and sellers – who have entrusted us with one of the largest financial transactions of their lifetime,” says Mary Frances Burleson, president and CEO of the Ebby Halliday Companies. “Sales records of this magnitude reflect the exceptional performance of our more than 1,500 Associates. We are so pleased to recognize their professional accomplishment and success – they are the reason the Ebby Halliday Companies lead the North Texas real estate market.”
Thank you Mary Frances. We couldn’t have said it any better!
To learn more about Ebby Halliday Realtors, its Associates and listings, visit ebby.com. For more information about Dave Perry-Miller & Associates, its Associates and listings, visit daveperrymiller.com.
Dallas-area home prices were up 9.3 percent in November from a year earlier, according to a just-released report from CoreLogic. Nationwide, home prices were up 11.8 percent for the same period.
Mark Fleming, chief economist for CoreLogic, predicts that when all the numbers are in home prices across the country will be up 11.5 percent for 2013. “That will make 2013 the best year for home-price appreciation since 2005,” Fleming says.
Across Texas, home prices were up 8.7 percent in November from a year earlier. Texas home prices are now fully recovered from the recession and are back to where they were at the peak of the last housing cycle, according to CoreLogic.
The states with the highest appreciation were Nevada (25.3 percent), California (21.3 percent) and Michigan (14.4 percent).