North Texas Real Estate Information Systems, Inc. released their year-end statistics this month, and everyone can see that the Dallas/Fort Worth Real Estate market is definitely thriving.
94,991 DFW-area single-family homes sold in 2013, which is 17% more than 2012. Over the course of the year, the median price of homes in the Dallas/Fort Worth area increased 9.9% to $172,500. With pre-existing inventory low, potential buyers are having to compete for available homes. Many properties stay on the market for only a few days before an offer is put in. In 2013, homes spent an average of 58 days on the market, which is 17 days fewer than 2012. At the same time, the 2013 Dallas/Fort Worth real estate market featured 5.6% more new listings and 15.4% more pending sales than 2012.
Dallas/Fort Worth homebuyers and sellers can expect home prices to continue to rise as we move forward this year. If you are looking to sell, it’s a great time to put your home on the market. If you are looking to buy, then you should be prepared to act quickly when you find a home you are interested in.
In a hot market like this, it’s important to enlist the help of a Realtor. Click here to begin your home search with HomeCity!