North Texas home sales jump in March
After a slow start to the year, sales of existing homes in North Texas got a boost in March to drive year-to-date numbers up 4 percent from last year.
Last month, 7,854 homes were sold in North Texas, up 12 percent from a year ago, according to the Real Estate Center at Texas A&M University. The center compiles sale and home price numbers recorded by real estate agents on the proprietary multiple listing service.
For the first three months of 2015, 18,040 homes were sold, 4 percent more than the same period a year ago. Sales were flat in January and February.
In Tarrant County, March home sales doubled in southeast Arlington and rose 113 percent in downtown Fort Worth. Other strong spots were in Grapevine, where sales were up 62 percent, and Bedford, which recorded a 52 percent increase.
The median sale price in March was $197,000, up 9 percent from March 2014, the report shows. The median sales price for the first quarter was $190,000, up 9 percent.
Jim Gaines, a research economist at the Real Estate Center, said in a report that home prices will likely continue to go up for a while in Texas.
“As long as inventory stays tight, and as long as demand stays high relative to supply, we’re going to keep seeing these kinds of price increases,” Gaines said.
Locally, the median sales price more than doubled in southeast Fort Worth, rising 109 percent to $80,950, the report shows.
A low inventory of homes for sale is contributing to the tight market.
In March, 16,478 homes were listed for sale in North Texas, down 15 percent from March 2014. The number of new listings in the month fell 3 percent, to 10,271, while pending sales were up 3 percent, to 7,588 homes under contract.
Sandra Baker, 817-390-7727
Area | Sales | % change year ago | Median price | % change year ago | |
82 | NE Arlington | 29 | 12% | $215,000 | 8% |
83 | Central W. Arlington | 42 | 31% | $133,500 | -4% |
84 | Central E. Arlington | 16 | 7% | $82,250 | 4% |
85 | Arlington, Dalworthington Gardens, Pantego | 41 | -25% | $190,000 | 25% |
86 | SE Arlington | 14 | 100% | $102,000 | 7% |
87 | Far SW Arlington | 56 | -5% | $169,900 | -3% |
88 | Far SE Arlington | 80 | -22% | $155,500 | 10% |
89 | Mansfield | 100 | -8% | $224,500 | 12% |
90 | Kennedale | 8 | -20% | $269,900 | 12% |
101 | Downtown FW | 17 | 113% | $223,400 | 1% |
102 | Saginaw, north FW | 172 | 11% | $166,000 | 14% |
104 | East FW | 53 | 15% | $115,450 | -2% |
105 | Southeast FW (Rosedale) | 13 | 8% | $80,950 | 109% |
106 | South FW, Everman, Forest Hill | 21 | 17% | $88,000 | 19% |
107 | Central west and southwest FW | 46 | 0% | $259,900 | 22% |
108 | Central west FW | 69 | 10% | $305,000 | 37% |
109 | Northwest FW, River Oaks, Azle | 135 | 25% | $140,000 | 12% |
111 | South FW, Crowley | 188 | 25% | $140,000 | 12% |
112 | Far west FW, Benbrook, White Settlement | 90 | 8% | $140,650 | 20% |
120 | Bedford | 50 | 52% | $190,000 | 15% |
121 | Euless | 48 | -13% | $207,000 | 12% |
122 | Hurst | 62 | 29% | $173,250 | 16% |
123 | Colleyville | 48 | -4% | $497,000 | -1% |
124 | Grapevine | 60 | 62% | $293,000 | 13% |
125 | Southlake | 48 | 41% | $665,000 | 21% |
126 | Keller | 69 | -3% | $396,000 | 28% |
127 | N. Richland Hills, Richland Hills | 98 | 46% | $172,000 | 1% |
128 | Watauga | 36 | 44% | $123,250 | 14% |
129 | Haltom City, Riverside | 43 | 48% | $93,000 | 7% |
130 | FW Summerfields, Park Glen | 191 | 16% | $183,200 | 9% |
131 | Roanoke | 30 | 11% | $250,000 | 10% |
132 | Trophy Club, Westlake | 22 | -24% | $359,950 | -5% |
Source: Real Estate Center
This story was originally published April 10, 2015 at 5:19 PM with the headline "North Texas home sales jump in March."