Data Current as of 6/30/2014 – End of 2nd Quarter

The North Texas real estate market continues to churn ahead strong as we enter the 3rd quarter of 2014.  Here is a summary of highlights from North Texas real estate for June 2014:

  • The median home sales price in North Texas was $197,000 in June of 2014, which was an increase of 8.8% from June of 2013.  Median home prices have seen a strong upward trend since January of 2012.
  • The average list price for homes in North Texas was $285,322 in June 2014, which was a 6.5% increase over June of 2013.  Average list prices have seen a steady upward trend since January of 2011 with the exception of seasonal declines in the winter.
  • The average sales price per square foot for homes in North Texas was $108 per foot, which is just $1 per foot lower than the seven year high of $109 set last month in May of 2014.  The average sales price per square foot has seen a sharp increase since the January 2013 total of $87 per foot.
  • The average days on market for homes in North Texas dropped to a seven year low in June 2014.  Homes sold in just 51 days on average, which was 13.6% lower than in June 2013.
  • The supply of homes on the market in North Texas leveled off somewhat in June of 2014 compared to recent months, but was still almost 15% lower than in June of 2013.  There was a total of 3.5 months supply of homes on the market in June.  A “normal” market is generally considered to be a six to eight month supply of homes, so we are definitely still in a buyer’s market.
  • There were 12,804 new listings that came on the market in North Texas in June of 2014, which was a very slight increase of just 0.5% compared to June of 2013.  The number of new listings decreased from May, which is a normal seasonal decline as the number of new listings typically peaks in April and May.
  • There were a total of 8,530 pending home sales in North Texas for the month of June 2014, which was a decline of 9.4% from June of 2013.  This is partially a reflection of the lower inventory of homes.
  • There were 9,374 closed sales reported in North Texas for the month of June 2014, which was a very slight decrease of just 1% from June of 2013.  The number of transactions has increased steadily since January of 2011 but has still not reached highs seen in 2007 when the number of closed transactions topped 10,000 during the spring.  Inventory remains low, which will continue to limit the number of transactions until builders can supply more inventory to fill the gap.

 

Median Home Price for North Texas for June 2014:

Chart of Median Home Prices for North Texas for the last seven years:

 

Average List Price for homes in North Texas for June 2014:

Chart of Average List Prices for homes in North Texas:

 

Average Sales Price per Square Foot for North Texas for June 2014:

Chart of Average Sales Price per Square Foot for North Texas for the last seven years:

 

Average Days on Market for North Texas for June 2014:

Chart of the Average Days on Market for the Last Seven Years for North Texas:

 

Supply of Homes in North Texas for June 2014:

Chart of Home Supply in North Texas for Last Seven Years:

 

New Home Listings in North Texas for June 2014:

Chart of New Listings in North Texas for the Last Seven Years:

 

Pending Home Sales in North Texas for June 2014:

Chart of Pending Home Sales in North Texas for the Last Seven Years:

 

Closed Home Sales in North Texas for June 2014:

Chart of Closed Home Sales in North Texas for the Last Seven Years:

DISCLAIMER: Powered by 10K Research.  All data provided by NTREIS. Information deemed reliable but not 100% accurate.

Are you thinking of buying or selling a home in the Dallas area?  I would appreciate an opportunity to earn your real estate business.  Please call me today at (972) 978-3553 or complete the contact form below for a prompt response:

First Name:


Last Name:


Email Address:


Phone Number:


Your questions and comments:



Plese type in the 6 digit security code above into the space below to verify your email.

Security Code: