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.
Dallas-area home prices were up 7.4 percent in the just-released Standard & Poor’s/Case-Shiller Home Price Index.
The gain from a year ago was the fourth highest in the country and significantly ahead of the 4.9 percent nationwide gain.
The biggest increases were in Miami, up 10.3 percent, and Las Vegas, up 9.1 percent. Charlotte and Dallas were the only two cities to see their annual price gains increase from the previous month. Dallas home prices were up 7.3 percent in August.
Dallas-area home prices are now more than 12 percent higher than they were before the recession and at a record level in the Case-Shiller index.
After a modest decline nationwide in August, existing-home sales bounced back in September to their highest annual pace of the year, according to a just-released report from the National Association of Realtors. All major regions of the country except the Midwest experienced gains.
Single-family home sales rose 2 percent in September over August, but are 1.9 percent below the pace a year ago. Nationwide, the median single-family home price was $210,300, up 5.9 percent from September 2013. In Dallas-Fort Worth, that number was $185,000, up 9.3 percent.
Discover what’s for sale in Dallas-Fort Worth in your price range at the award-winning ebby.com.
Dallas-Fort Worth home prices were up 5.2 percent in the second quarter from a year ago, according to the latest National Association of Realtors survey.
Nationwide, prices were up 4.4 percent – the smallest such increase since 2012, according to NAR. The biggest year-over-year increases were both in Oregon, with Salem at 24.9 percent and Eugene at 18.1 percent. Prices were up in 71 percent of the markets surveyed.
Analysts have been forecasting a slower rate of home price growth this year. D-FW home price gains have cooled substantially from the 9 percent rise in the first quarter.
“At this slower but healthier rate, homeowners can continue steadily building equity,” says NAR economist Lawrence Yun. “Meanwhile, for buyers, increased supply with moderate price gains is giving them better opportunities to choose.”
Nationwide median sales prices in the second quarter were at a record $212,400. In the D-FW area that number was $191,300.
Dallas-area home prices rose at the slowest rate in 10 months, according to the just-released Standard & Poor’s/Case-Shiller Home Price Index.
Dallas prices were up 8.6 percent in May from a year ago. Nationwide, prices rose 9.4 percent in the same period.
The lower home price gains had been predicted by analysts who see some moderation after many months of double-digit price increases. Eighteen of the 20 cities Case-Shiller surveys had lower gains in May than in April.
Dallas’ increase was the smallest since July of last year. Earlier this year local home prices were growing at more than 10 percent from a year ago.
The largest annual gains in May were in Las Vegas, 16.9 percent, and San Francisco, 15.4 percent. The smallest increase was in Cleveland, 2.4 percent.
Dallas-area home prices are now at a record level – up more than 9 percent from where they were before the recession. And prices here are almost 25 percent ahead of where they were at the worst of the economic downturn in 2009. Dallas-area prices have been rising in the Case-Shiller study for more than 24 months.
Dallas-area home prices rose 8.7 percent in May from a year ago, according to a new report by CoreLogic Inc.
Nationwide, home prices rose 8.8 percent. The largest home-price gains were in California, with Riverside at 18.2 percent, and Los Angeles at 13.4 percent.
“As we move ahead, a moderation in home price increases over the next 12 months should help cool things down a bit and keep the housing recovery going,” said CoreLogic CEO Anand.
If you’re curious about the value of your North Texas home — or you’d just like to learn more about the fast-paced Dallas-Fort Worth-area housing market — contact an Ebby Associate today. To get started, visit the award-winning ebby.com.
While it’s already quite warm in North Texas, summer doesn’t officially start until this Saturday, June 21. With sales prices on the rise, fewer homes for sale and low interest rates, this summer offers potential home sellers ideal conditions to sell a home in Dallas-Fort Worth. Competition among buyers is heated and multiple offers are common in many neighborhoods.
Just how hot is the North Texas housing market? Consider that in the past 12 months:
* The median sales price is up 8.6%.
* The average time a home is on the market is just 55 days. That’s down 21% from this time last year.
* The number of homes for sale is down 14.6%, meaning sellers have significantly less competition.
* And, finally, the number of homes sold in the past year is up 7.2%.
If you’re considering listing your home, the summer of 2014 offers an extraordinary opportunity. Contact an Ebby Associate to learn more about the real estate market in your neighborhood and to determine what your home is worth in today’s fast-paced market. To find the ideal agent for your residential real estate needs, visit the award-winning ebby.com.
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.