Northwest Dallas Home Values report for November 2014

Cumulatively this year, homes sold grew 5% relative to the same month last year, with 692 homes sold so far this year. In Dallas Northwest, 43 homes sold in November of this year, a 23% rise from the previous month.

New home properties listed in Dallas Northwest increased 10% during November, with 65 properties listed in November of this year. So far this year, housing sales gained 6% relative to the same period last year, with 692 properties sold so far this year. Year-to-date, listed homes under contract are at 761 in all, which is a 8% upturn compared to the same period last year. There were 73 listed houses under contract during November, a 52% increase from the previous month. Year-to-date, homes sold grew 12% compared to the same month last year, with the average price for a house at $292,402. In November of this year, the average home sales price for houses in Dallas Northwest was approximately $280,744, a 19% upturn from last month.

Buyers sold their houses for 93.3% of their original price during November, a 0% rise from the previous month. Buyers sold their houses for 95.8% of their original price cumulatively this year, which is a 1% growth relative to the same period last year. Year-to-date, homes spent approximately 43 days in the market until sold., which is a 8% fall relative to the same period last year. This November, homes spent about 57 days in the market until sold, a 9% growth from a month ago. In November of this year, the market supply of homes for homes in Dallas Northwest was 140 homes. The market inventory of available homes during November in Dallas Northwest went down 17%. The month supply of homes in Dallas Northwest declined 20%, with a 2.2 month supply of homes on the market.

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 November 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 November 2014

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