The Dallas/Fort Worth housing market continues to see many properties receiving multiple offers. Current trends suggest that the upcoming summer selling season will only bring on a more competitive market. Since the availability of jobs has a large effect on housing market trends, the areas of Dallas/Fort Worth with the largest job markets are inevitably the hottest. Areas like Plano and Richardson are home to many large companies and have the most competitive markets. If you are planning on buying or selling a home this summer, you should start the planning process with your Realtor right away!
North Texas Real Estate Information Systems, Inc. recently released their market data for March 2014. It shows DFW-area home sales volume slightly down this year, dropping 13.8% year-over-year to 6,975 single-family homes sold. According to the report, monthly housing inventory also decreased 22% to 3.2 months in March.
DFW area home prices continue to march higher, with the median sales price increasing 8.9 percent to $180,000. Homes are spending an average of 62 days on the market - 6 days fewer than March 2013. Supply continues to outpace demand, with 3.6% less new listings than last year at 11,544 new listings this month.
If you’d like to take advantage of this hot housing market, you can find out what your home is worth here. If you’re looking to begin your home search, use our advanced search tool to find your perfect home!