Home prices set records last month in all of North Texas’ counties.
North Texas’ home prices are increasing at a record pace, and the jump in housing costs is even greater in some local counties.
Dallas County saw a more than 32% rise in median home sales prices in May compared with a year earlier, according to the MetroTex Association of Realtors.
That surpasses the areawide 26% year-over-year gain in median home costs.
Dallas County also had the biggest rise in the number of home purchases — up 47% from May 2020 levels. Analysts caution not to read too much into the sales increase number because in May 2020 housing activity was on hold because of the pandemic.
Dallas County led in total home sales last month with 2,551 purchases handled by real estate agents.
Collin County had the highest median sales price in May at $437,650 — up about 27% from a year earlier. Collin County home sales were up 33% year-over-year, according to the MetroTex Realtors.
Median home prices in the area are up 17% for the first five months of 2021 compared with the same period last year.
All of North Texas’ counties have seen huge declines in the number of homes listed for sale. The biggest inventory drop was in Rockwall County, where there were 66.5% fewer houses on the market in May compared with a year earlier.
At the end of May, only about 7,000 single-family homes in North Texas were listed with real estate agents — the lowest inventory in decades.
By Steve Brown
7:00 AM on Jun 11, 2021 — Updated at 3:06 PM on Jun 11, 2021