Dallas North Texas Real Estate Sales were up 39% in February 2012 over the same month last year with 54 homes selling this month! For the year to date, overall home sales were at 87 homes sold, up 23% from last year.
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New Dallas North Texas real estate listings experienced a 22% change for the same period last year with 152 homes listed this month. For the year to date, overall home listings underwent a 13% change with 279 homes listed this year. Listings pending sales this month underwent a 12% change, with 67 homes contracted. Listings under contract for the year to date experienced a 16% change, with 130 homes under contract for this month.
The average sales price of a home in Dallas North was $561,916, a 3% change from this month last year. Overall, for 2012, the average sales price was $547,779, a 13% change. Sellers received 89% of their asking price this month, which is a 25% change from last year. For year to date, sellers received 90% of their asking price, which is a 3% change. This month, homes spent an average of 158 days on the market until sold, which was a -14% change from last year. For the year to date, the average number of days on the market was 145, an overall change of -11%.
The current supply of active listings on the market this month was 475 homes. This is a change of -20% from the same month last year. This month there was a 7.4 month supply of homes on the market; this was a -18% change from last year. Dallas North real estate is known as area 11 in the North Texas Real Estate Information System. Information is believed reliable but is only as accurate as reported by the system in the month of February 2012.
The DFW Metroplex is also known as Dallas Fort Worth Arlington Metropolitan Statistical Area, a title designated by the U.S. Census which encompasses 12 counties within the U.S. state of Texas. The area is divided into two metropolitan divisions: Dallas Plano Irving and Fort Worth Arlington and is comprised of over 70 area 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 U.S. states of Rhode Island and Connecticut combined. It is also the sixth largest gross metropolitan product (GMP) in the United States, and is approximately tenth largest by GMP in the world.