Blog – Anderson Conomos Team

Fort Worth Home Sales January 2018

What does the next year hold for the Fort Worth housing market? Analysts report a positive outlook with 2018 continuing the trend of the last few years as one of the strongest markets in the United States. Prices are projected to rise along with sales as new and existing homes will continue to be in high demand.

Seeming to follow that prediction, Fort Worth home sales raised more than 18 percent to 749 homes in January 2018. And the median price for Fort Worth homes increased 9 percent year-over-year to $206,000 in January 2018. Like the past year, the monthly housing inventory in Fort Worth Fort Worth’s was 1.6 months in January 2018. And homes spent an average of 45 days on the market in January 2018, similar to January 2017. A few other statistics:

749 – Homes sold in January 2018, 18.1 percent more than January 2017.
1.6 – Monthly housing inventory in January 2018, the same as January 2017.
1,716 – Active home listings on the market in January 201 – 6.9 percent more than January 2017.
45 – Days on the market
32 – Days to close.

Dallas Home Sales Statistics January 2018

Dallas Home Sales Statistics February 2018 According to North Texas Real Estate Information Systems, Inc. (NTREIS) U.S. consumers seemed to be operating with a renewed but cautious optimism last year. The stock market was strong, wages were edging upwards and home buying activity was extremely competitive. Not much has changed in 2018 in terms of those measures, yet there is a sort of seasoned prudence mixed into the high emotions that go with a major expense like a home purchase. We are now several years deep into a period of rising prices and low inventory. Those in the market to buy a home have caught on. As sellers attempt take advantage of rising prices, expect buyers to be more selective.

New Listings were up in the North Texas region 3.3 percent to 10,685. Pending Sales increased 1.6 percent to 8,193. Inventory shrank 2.6 percent to 20,862 units.

Prices moved higher as Median Sales Price was up 4.9 percent to $235,000. Days on Market increased 6.1 percent to 52. Months Supply of Inventory was down 4.3 percent to 2.2 months, indicating that demand increased relative to supply.

Whatever external forces are placed upon residential real estate markets across the country – whether they are related to tax legislation, mortgage rates, employment situation changes, new family formations, the availability of new construction and the like – the appetite for home buying remains strong enough to drive prices upward in virtually all markets across the country. New sales are not necessarily following that trend, but monthly increases are expected until at least late summer.

Welcome to Dallas

Dallas is a city in the U.S. state of Texas. It is the most populous city in the Dallas–Fort Worth metroplex, which is the fourth most populous metropolitan area in the United States. The city’s population ranks ninth in the U.S. and third in Texas after Houston and San Antonio. The city’s prominence arose from its historical importance as a center for the oil and cotton industries, and its position along numerous railroad lines. The bulk of the city is in Dallas County, of which it is the county seat; however, sections of the city are located in Collin, Denton, Kaufman, and Rockwall counties. According to the 2010 United States Census, the city had a population of 1,197,816. The United States Census Bureau’s estimate for the city’s population increased to 1,317,929 as of July 1, 2016.

Dallas is one of the fastest-growing cities in the United States. From 2010 to 2016, Dallas recorded the highest net domestic migration in the country, in excess of 300,000. Overall, the Dallas–Fort Worth metro area had the second largest population increase among metro areas in the U.S., which recorded a population of 7,233,323 as of July 1, 2016, an increase of 807,000 people since the 2010 census. Located in North Texas, Dallas is the main core of the largest metropolitan area in the South and the largest inland metropolitan area in the United States that lacks any navigable link to the sea. Dallas and nearby Fort Worth were developed due to the construction of major railroad lines through the area allowing access to cotton, cattle, and later oil in North and East Texas.

The construction of the Interstate Highway System reinforced Dallas’ prominence as a transportation hub with four major interstate highways converging in the city, and a fifth interstate loop around it. Dallas developed as a strong industrial and financial center, and a major inland port, due to the convergence of major railroad lines, interstate highways, and the construction of Dallas/Fort Worth International Airport, one of the largest and busiest airports in the world.