For second month in a row, Dallas County leads the area in home price hikes

“The numbers reported by the Morning News comes from the real estate stats compiled at Texas A&M. They reflect very accurately what we as Realtors are experiencing every day trying to help our clients buy and sell homes.
What the numbers do not tell you is that the majority of homes being sold are under $500,000. The number of sold homes drops in half from $499,000-$599,000 and in half again from $599,000-$699,000 and so it goes into the higher price range. It makes perfect sense that the out-laying areas like Rockwall and Collin County are reporting a higher number of sales. You can find more lower priced homes there. The bad news is that for every new home that comes on the market there are 5-10 buyer vying for that home driving the price up.
Nothing has changed when it comes to selling real estate, location, condition and price still rule the day. Sellers need to not get greedy, price their homes correctly and let the market drive the price.”
Mary Beth Harrison, REALTOR
Dallas Native Team | Dave Perry-Miller Real Estate

Tarrant County had the most sales in August.

Dallas County home prices were up by more than 13% in August from a year earlier.(Daniel Carde / Staff Photographer)

Dallas County led North Texas in August home price gains.

The median price of houses sold in Dallas County by real estate agents was up more than 13% to an all-time high of $279,950.

August’s double-digit percentage price increase follows a more than 15% year-over-year gain in July, according to data from the MetroTex Association of Realtors.

For all of North Texas, median home prices were up 9% from a year ago in August.

After Dallas County, the greatest annual home price increases were in Rockwall (10.3%) and Collin County (9.7%).

Tarrant County led the area in home sales, with 2,888 home purchases — up 6% from 2019 levels.

The greatest percentage gain in home sales was in Rockwall County, where purchases were up by a third from August 2019.

All Dallas-Fort Worth area counties have seen huge declines in home inventories. The number of houses listed for sale with North Texas real estate agents is down 45% from last summer.

The shortage of houses on the market has fueled the spike in prices and caused fierce completion for available homes.

North Texas home sales grew by a double-digit percentage rate in August.
North Texas home sales grew by a double-digit percentage rate in August.(MetroTex Association of Realtors )Check out the full Dallas News article


Steve Brown, Real Estate Editor. Steve covers commercial and residential real estate in Dallas-Fort Worth. @SteveBrownDMN

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