Prices are seeing big gains in all the D-FW home markets.
Dallas County had the biggest jump in March home sales in North Texas.
Real estate agents sold 2,538 single-family homes last month, an increase of 18.4% from March 2020, according to a report from the MetroTex Association of Realtors.
For all of North Texas, sales in March were 5% ahead of year-earlier totals.
March sales were up 8% in Rockwall County. Rockwall also had the largest median home price increase, rising 25% year-over-year to $370,000.
The other North Texas counties had annual declines in home purchases due to a severe lack of inventory.
The number of homes on the market dropped almost 68% from a year ago in Collin County and was almost 65% lower in Ellis County.
Collin County has the highest median sales prices in the area at $395,000, up 14.5% from March 2020, according to the Realtors group.
Tarrant County had the most total sales last month with 2,667 home purchases.
With a median price of $285,000, Tarrant County is one of the most affordable North Texas markets, making it popular with first-time buyers who have headed into the housing market during the pandemic.
Overall North Texas median home prices are at an all-time high of $312,000 — 16% higher than a year ago.
With the supply of homes for sale in the area dwindling each month, total purchases are being constrained even with a huge demand.
Unless more properties come on the market, 2021 won’t see significant increases in Dallas-Fort Worth home sales, analysts predict.