Dallas Northwest Home Values report for December 2014

Year-to-date, housing sales have reached 739, which is a 8% growth compared to the same period last year. Home sales in December of this year in Dallas Northwest grew 51%, with 47 homes sold in December 2014.

Year-to-date new listings have reached 1,028 total. New housing properties listed grew 7% relative to the same period last year. There were 49 new listings this month. This month, the number of new real estate listings in Dallas Northwest went up 29%. Listings under contract overall this year increased 10% relative to the same period last year, with 817 homes sold during 2014. Dallas Northwest listed houses under contract were at 54 homes this December, a 35% upturn from a month ago. The average sales price was approximately $314,933 this month, a 25% gain from last month. The average price for a home so far this year grew 13% relative to the same period last year, with $294,306 being the average selling price.

On average year-to-date, buyers sold their houses for 96% of their original price, which is a 0% growth relative to the same period last year. This month, buyers sold their houses for 94% of their original price, which is a 0% rise from the previous month. The days on market until sale in December of this year in Dallas Northwest rose 20%, at 59 days on market until sale. Overall this year, properties spent about 45 days in the market until sold., which is a 5% dip from last year. The current supply of active listings on the market in Dallas Northwest fell 22%, the market inventory of available homes being 106 homes. There was a 1.6 month supply of houses in December 2014. The month supply of houses during December in Dallas Northwest dropped 28%.

Dallas Northwest real estate information, known as MLS Area 16, is reported by area in the North Texas Real Estate Information System. The information in this report is believed reliable, but is only as accurate as reported by the system in the month of December 2014.

The DFW area is also known as the Dallas Fort Worth Metropolitan Statistical Area, a title designated by the U.S. Census Bureau, which encompasses 12 counties within the state of Texas. The area is divided into two metropolitan divisions: Dallas Plano Irving and Fort Worth. It is comprised of over 70 cities, both incorporated and unincorporated. The DFW Metroplex is, by population, the largest metropolitan area in Texas, the largest in the South, the fourth-largest in the United States, and the tenth-largest in the Americas. The DFW Metroplex encompasses over 9,000 square miles of total area, making it larger in area than the states of Rhode Island and Connecticut, combined. It also has the sixth-largest gross metropolitan product (GMP) in the United States, and is approximately tenth-largest by GMP in the world.

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Dallas Northwest Texas Real Estate December 2014

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