Jun 20, 2017
North Texas home prices’ hot streak
DALLAS-FORT WORTH – North Texas home prices are still on a hot streak.In May 2017, the price of preowned homes sold in North Texas surged another 10 percent from 2016. At a...
DALLAS-FORT WORTH – North Texas home prices are still on a hot streak.
In May 2017, the price of preowned homes sold in North Texas surged another 10 percent from 2016.
At a median of $255,000, area home prices have never been so high, and they show no signs of a cooldown.
North Texas real estate agents sold 10,939 single-family homes in May 2017, according to the latest data from the Real Estate Center and North Texas Real Estate Information Systems.
Home sales were 15 percent higher than in May 2016.
Through the first five months of 2017, area real estate agents have sold a record 40,592 houses—up 5 percent from the same in 2016.
An additional 11,311 home sales were pending but not yet closed by the end of May 2017.
There is finally some sign that the huge shortage of homes for sale in North Texas is easing.
In May, almost 20,000 homes were listed for sale with real estate agents in the more than two dozen counties in the survey. That’s a 10 percent gain from 2016.
Even with that increase, there’s still less than a 2.4-month supply of area houses in the real estate agents’ multiple listing service.
On average, it took only 37 days to sell the houses that traded in May.
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