While home sales have been in somewhat of a slump in North Texas in recent months, it seems things are turning around. This is great news for sellers, but perhaps not so great news for buyers who could potentially find themselves up against a bit more competition when looking for a home in the Dallas-Fort Worth area. So, what’s up?
The Dallas Morning News recently reported that in May, sales volumes were up in several counties in the DFW metro, according to the MetroTex Association of Realtors. The largest increase so far in 2019, increases of 6% were seen across the region when compared to the same time period last year.
The top county for home sales in May was Tarrant County, where 2,779 homes were sold. Fort Worth is located in Tarrant County, along with Arlington, Keller, Colleyville and many others.
While Tarrant County saw the most home sales, the largest increase in home sales was in Rockwall County, where sales increased nearly 7% over the same time period in 2018.
Median home sale price in May for Tarrant County was $246,000, while median prices increased during that time period by 4.8% in Rockwall County. Dallas County experienced the biggest gain in number of homes for sale, and came in second in sales volume with a 5.1% year-over-year gain in home purchases. Additionally, Dallas County was where local agents saw a 30% increase in number of listings over May of last year. Cities in Dallas County include Farmers Branch, Highland Park, Irving, Garland and Sunnyvale, to name a few.
This is welcome news not only for those looking for a home in North Texas, but for builders and real estate agents as well!
Whether you’re relocating for employment reasons, or simply want to see why so many people are flocking to the DFW area, our Dallas real estate professionals are ready to help you find the perfect home for you and your family. Simply tell us what you’re looking for in a home and we can narrow down the search to those properties that suit your criteria!