Jul 19, 2014

Dallas July 2014 Record High Real Estate Market

The DFW residential real estate market continues to set records in 2014. Pre-owned home sales in June set an all-time record of 9,481 homes sold in a single month, and median sales prices were 10 percent higher than a year ago. At the same time, average monthly rents in DFW's hot rental market also set a record high.

And, the area's new home market is setting records as well. According to recent data published by Metro Study, median new home prices have risen 24% since 2011 at mid-year. In some areas, prices have gone up even faster.

In North Dallas (south of LBJ, between Midway and Central), the median sales price is currently $520,000. That's up from $469,750 a year ago (almost an 11 percent increase). However, the number of home sold has dropped almost 5 percent. Fewer homes have sold and fewer homes have been available for sale.

Most importantly, the average price per square foot has risen and continues to rise for both new construction and existing home sales. [where: 75230]

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