Dallas-Fort Worth home prices were up 8.5% in the 3rd quarter, compared to the same period last year, according to the National Association of Realtors. Home prices were up in 87% of the 170 U.S. cities included in the price comparison.
Almost two dozen U.S. markets saw double-digit appreciation in third-quarter. The biggest increases were in Florida, including the Tampa area (up 20.7%), Punta Gorda (up 19.7%) and Naples (up 16.8%).
Among the major Texas markets, Dallas-Fort Worth had the biggest home price hikes, followed by Austin (7.4%), Houston (7.3%) and San Antonio (6.9%).
The North Texas median sales price for a single-family home reached $210,000 in the 3rd-quarter report. That compares with a nationwide price of $229,000 in the same period.
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The Dallas-Fort Worth area has the hottest housing market in the country, according to a just-released report from Realtor.com.
Analysts rated the top markets in April based on demand for housing and how long it takes to sell a property.
After the D-FW area, other cities at the top of the 15 hot housing markets list include Santa, Rosa, Calif.; Denver; Boston, and San Diego.
“As the market shows strong signs of health and improvement during the start of spring home buying season, these 15 markets are the best in the country from both a supply and demand perspective,” Realtor.com economist Jonathan Smoke said in the report. “Sellers are seeing listings move between 29 and 49 days more quickly than in the rest of the country and at an accelerating pace from just last month – an average of five days faster.
“Meanwhile, these markets are especially attractive to buyers, as listings are viewed two-to-three times more often than the national average.”
So far in 2015, median single-family home sales prices in North Texas are up about 9 percent from a year ago. And the number of homes sold in the area so far this year by Realtors is 4 percent higher than in 2014.
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Dallas-area home prices hit a record high in the latest Standard & Poor’s/Case-Shiller Home Price Index.
According to the report released today, local home prices were up 10 percent in March from a year earlier. March marks the fourth-consecutive month that Dallas-area home prices increased at a double-digit rate from the previous year. Prices were up 1.2 percent over February.
Nationwide, prices were up 10.3 percent from 2013.
“All cities were higher than a year ago and all but New York were higher in March than in February,” said S&P’s David Blitzer. “However, only Denver and Dallas have set new post-crisis highs and they experienced relatively lower peak levels than other cities.”
Dallas-area home prices are now 6 percent higher than they were at the previous peak of the market back in 2007. Nationwide, prices are still almost 20 percent below where they were before the recession.
To find out what your home is worth in today’s fast-moving market, contact an Ebby Associate today. To get started, visit the award-winning ebby.com.