Another strong year for the North Texas Real Estate Market.
Real Estate housing sales are higher by 150 units over the last three years for Year End 2012 and 171 housing units higher than 2011. That represents an 11% increase in sales compared to 2011. We have seen some firming up of housing prices with less downward pressure of Short Sales and Foreclosures.
The largest segment selling is still a first time home buyer price of $100,000-$160,000 representing 37.5% and are sold on average in 78 days. The largest Micro Segment is $100,000-$120,000 with 59 units sold in the last Qtr and 14.4% of the housing market.
Median price homes have increased over the last year with December comparative numbers showing a 12% increase compared to December 2011. We have a Year End months supply of houses at 5.8 compared to 6.2 in December 2011. A Stable market is considered to be 6 months supply.
My projection is continued growth of our market in 2013. Contributing factors are an economy that is stronger here locally compared to the Nation as a whole. Private sector job growth is one of the strongest here in North Texas and the State. Plus interest rates are projected to stay at historic lows in 2013. This will help some buyer's purchasing power.
If people have been sitting on the sidelines waiting to sell their homes, it looks like 2013 will be the strongest market in many years to sell homes. Plus they can get more upside purchasing power because of the interest rates being so low.
South Fort Worth
Real estate in this MLS market is a much stronger sales number in 2012. The Year over year growth is 15% on the number of homes sold. The largest segment is $80,000-$120,000 representing 40% of the market. With average Days On Market at 54 days for that segment.
The median priced home has increased by 11%. It is up to $104,950. YE months supply inventory of 4.4 months compared to 6.7 months in December 2011. That represents a decline of 34%. This MLS market is quickly becoming a sellers market.
The average Days On Market as a whole in December was 73 vs 123 for December 2011.
Free Listings Search: