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Date Posted: 13:08:26 07/24/17 Mon
Author: mrichter@bizpress.net
Subject: Homes on fire: Sales, prices climb to new record levels

June 2017 Statistics for Tarrant County

1,308 – Homes sold in June 2017, 7.5 percent more than June 2016.

$210,900 – Median price in June 2017, 10.8 percent more than June 2016.

2.3 – Monthly housing inventory in June 2017, 0.4 months more than June 2016.

61 – Average number of days homes spent on the market in June 2017, six days less than June 2016.

2,291 – Active home listings on the market in June 2017, 21 percent more than June 2016.

Source: Texas A&M Real Estate Center

As home prices climb to new record levels across the country, the Dallas-Fort Worth area continues to lead as a top spot for home-buying.

The national median home value is now $200,400, up 7.4 percent from last year, according to the latest data from the Zillow Real Estate Market Reports.

Home prices in the Dallas-Fort Worth area ranked No. 2 on the list of fastest growing markets in the country, according to the Zillow June report. The median home price reached $211,000, an increase of 10.5 percent. Seattle’s home price growth of 13.1 percent to a median price of $447,100, led the nation, according to the report.

Another recent ranking by Ten-X, an online real estate marketplace, showed Fort Worth’s home price growth at 11.7 percent over last year, ahead of Dallas where price growth was 9.2 percent.

“We’re still seeing the effects of supply and demand,” said Paige Shipp, regional director of Metrostudy, a housing industry analysis firm. “There is still far more demand on the buyer side than supply on the seller side.”

The imbalance continues to fuel a white-hot housing market that shows no signs of abating after more than three years, according to analysts and real estate insiders. Multiple offers and homes selling above asking price continues to be part of the home-buying skirmish.

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