HomeCity Real Estate Blog

The Dallas-Fort Worth housing market continued to remain strong during the month of May 2015. Home prices continued to increase as we began the summer home buying season. Despite the increase in prices, the overall housing affordability for this region was down 4.5% at 154. These metrics contributed to an overall decrease in new listings, pending sales, and closed sales. The median home price in the DFW area was $212,354, up 13.3% from last year’s median home price for this time of year.

During May 2015, new listings decreased 3.5% to 13,234 listings, pending sales decreased 10.6% to 9,202, and closed sales decreased 4.9% to 9,232. The average number of days for homes on the market was reported at 72 days which is up 48.5% from last year’s report.

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Following the record setting month of April for single family home sales, sales in May decreased two percent to 2767 home sales in May as stated by the recently released report by the Austin Board of Realtors. Despite the decrease in home sales, home prices continue to set record highs for the area and are continuing to increase rapidly. Because of this, home prices in Austin are priced outside of an affordable range for many of our residents with only 25 percent priced under $200,000. According to the Austin Board of Realtors report, the median home price increased nine percent to $271,000 and the average home price increased seven percent to $348,000.   During May 2015, new listings decreased three percent to 3,865 listings, active listings…
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With an average of 150 people moving to the city every day and a booming economy, Austin Business Journal reported Austin as the fastest growing large city in America. Unfortunately, with this growth come the ever-increasing costs of living popular areas of the city, forcing many Austinites to reside in small spaces as a sacrifice for location and convenience. If you are one of those small space dwellers, here are a few tips and tricks to maximize your space to create a cozy, comfortable home.

1. Storage is Key. The number one problem with small spaces is not having anywhere to put your things, which can result in a cluttered space that may become overwhelming. Consider purchasing multi-purpose furniture that can also be used for storage, such

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The Dallas-Fort Worth housing market continued building on recent trends in April, as home prices continued to increase moving toward the summer home buying season. Despite the rise in prices, the overall Housing Affordability for the region was recorded at 160, which was a 2.6% decrease from the previous year, as well as a 2.6% decrease from March. These two metrics contributed to a strong number of closed sales throughout the month, coming in at just 3.5% less than last year. Pending sales continued on a similar course, remaining relatively steady as compared to the previous month. When all of these factors are considered, it appears that the area’s market is setting the stage for continued improvements entering the next few months.

“For

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Austin continues to see rising home prices, while home sales once again set a record for the month of April. In a market as hot as ours, it’s becoming increasingly important to educate yourself on market trends and home values. The best way to do this is to keep up to date with market statistics and research sold home price data in your area of choice. You’re on the right track by reading and watching our monthly market updates, but feel free to take your research a step further using our websites newest feature: sold home price data.

You can now search homecity.com for recently sold home prices in your area of choice. For instance, if you are wondering what your neighbor’s house sold for last year in order to determine a fair market price for

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HomeCity Real Estate is offering recently sold home prices to homebuyers in the Dallas, Ft. Worth, and Austin areas. Our website now provides homeowners recently sold home prices, sales price history, and our REALTOR®s provide home value information. This is a first of its kind website feature that has been used exclusively by REALTOR®s in the past, but is now available to consumers simply by registering on Homecity.com. 

HomeCity is taking home real estate sales to a new level by offering information online that has never been offered before. The sales price history is a key piece of data to know how much the home actually sold for in the past.  The information will help consumers navigate the red-hot housing market by having all the market data

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Continuing on the recent trend, March saw a steep increase in home prices throughout the Dallas-Fort Worth area. Likewise, the overall Housing Affordability Index, which was rated at 164, recorded a mild dip of 0.8% from the previous year, bucking the trend that had taken hold in the first two months of 2015. Despite these two metrics, the market appears to be well on its way to a full recovery, with closed sales making an impressive rebound to 0.6% higher than last year. Promising closed sales were also met with a rise in pending sales as compared to January and February of this year, setting the stage for a strong market entering the spring and summer months.

“Inventory woes continue to hamper the market’s growth, but all expectations are for a

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Summer is upon us, finally! All over the city, people can be seen out and about enjoying everything that Austin has to offer. Upcoming events include Blues on the Green, which is a free concert series in Zilker Park that happens every other Wednesday. Families, young people, and basically all music lovers gather for this annual favorite. The Pecan Street festival is also an upcoming event you won’t want to miss. Claiming to be the oldest and largest art festival in Central Texas, the festival features art, music, and fun for the whole family. Athletes in Austin can participate in the upcoming Captex Triathlon near the end of May as well.

On a real estate note, we saw that last month almost half of all of the homes sold in Austin were outside the

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MSN Money recently did a story on the happiest (and most miserable) cities in America. Austin ranked number 6 happiest with North Port-Sarasota-Brandenton, Florida topping the list. Other happy cities included El Paso at number 5, Ventura, California at number 4, Raleigh, North Carolina at number 3, and Urban Honolulu, HI at number 2. What was the most miserable town, you ask? Youngstown-Warren-Boardman, OH/PA.

MSN used the 2014 Gallup-Healthways Well-Being Index to measure stats like median household income, percentage of violent crime, and percentage of obese people when determining happiness levels, and concluded that overall well-being captures happiness well. Happier workers are more productive, a healthy economy improves happiness, and that

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Dallas and Austin are two cities that have recently made a significant impact in the housing market. According to a report featured on Culture Map, a source for entertainment, events and news in Texas, Austin ranked as the number one U.S. city for best housing market to invest in this year—Dallas is close behind and ranked five.

How different is the real estate market in these two cities? Over time, their home values have slightly depreciated. According to Local Market Monitor, a website that forecasts home prices, Austin’s housing market is overpriced by 8 percent. In contrast, the housing market in Dallas is underpriced by 9 percent. However, this has not impeded Austin’s ability to flourish. The population in Austin grew by 8.9 percent from 2010

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