MONTHLY MARKET RECAP – SOUTHLAKE TEXAS – February 2017

Nicole Smith
Published on March 2, 2017

MONTHLY MARKET RECAP – SOUTHLAKE TEXAS – February 2017

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4504 Alexandra Front-1Real estate activity for the Dallas/Fort Worth area has been hot hot hot for the past 4 years! Home prices are rising all over the metroplex as noted here; averages are great, but it’s ideal to focus on specific communities.

Southlake, Texas * Real Estate Activity For February 2017 vs. February 2016

28 homes sold in February 2017 in Southlake, Texas.  This is 2 less than the 30 homes that closed in February 2016.

  • The average sale price for the homes that closed in February 2016 was $699,197.
  • The average sale price for the homes that closed in February 2017 was $698,382.
  • The average market time (aka Days on Market) for the homes that closed in February 2016 was 101 days.
  • The average market time (aka Days on Market) for the homes that closed in February 2017 was 95 days.
  • The total amount of volume for the homes that closed in February 2016 was $20,975,910.
  • The total amount of volume for the homes that closed in February 2017 was $19,554,696.

Homes Under Contract For February 2017

There were a total of 60 homes under contract or sale pending through February 28, 2017.  The average market time for these homes was 66 days.  The average list price for the homes under contract was $838,801.

Current Southlake Texas Homes For Sale Inventory Levels

There are currently 145 homes on the market.  The average list price is $1,098,079.  The average market time for these homes is 127 days.  The market absorption rate as of February 28, 2017, was 5.18.  This means that if no other homes came on the market, it would take a little over 5 months to deplete the remaining homes on the market. This is considered a “buyer’s” market.

Get an Advantage

How can both buyers and sellers have an advantage in the Southlake Texas real estate market?  Employ the services of a local Southlake real estate agent  who has vast knowledge and experience of the market.

 Find Southlake Homes for Sale &/or Sell Your Southlake Homes

For a complete list of available real estate in Southlake, visit Southlake Homes for Sale.  Make sure to subscribe to my blog so you don’t miss out on any Southlake homes.  Click here to find out what your Southlake Texas home is worth and to discuss your housing needs.

Check out 25 Reasons to Visit Southlake!

Special Events  – March 2017

NCL_LogoMarch 5, 2017 – National Charity League Fashion Show and Benefit 2PM-5PM at Hurst Conference Center.  If you love fashion and helping a good cause, get your ticket to the 20th Annual National Charity League (NCL) Fashion Show and Benefit, presented by Southlake’s NCL chapter. The event will showcase junior and senior high school girls as they raise money for community charities. Some of the local beneficiaries this year include GRACE, Battered Women’s Shelter, Operation Kindness and Metroport Meals on Wheels. In addition to enjoying the latest styles on the runway, you can also bid on exciting auction items and mingle over food and drinks. https://southlake.nationalcharityleague.org/fashionshow/

March 8, 2017 – Carroll Dragons Water Polo Camp – CISD Aquatic Center.  This is a camp being offered by the Carroll Water Polo team in Carroll ISD. There are two opportunities. One is March 8th and the other is May 20. See the flyer for registration information. Visit Event Website for More Info

easter eggs basketMarch 25, 2017,  Miracle Eggstravaganza –  11:00 AM1:00 PM @ Bicentennial Park – Join Community Services and Miracle League Southlake for a day of fun for special needs children to participate in egg scrambles. The Easter Bunny will be out for photos along with balloon animals, refreshments, sweet treats and so much more!  More Details

 

For more information about news and events in Southlake, subscribe to My Southlake News, and for ongoing information about Carroll ISD, check this out.

The above information regarding the “Southlake Texas Real Estate Market Report – February 2017” was provided by Nicole Smith with Briggs Freeman Sotheby’s International Realty. Nicole has over 20 years of experience helping families buy and sell homes in the Dallas/Fort Worth area. If you’re thinking of selling or buying, she’d love to share her knowledge and expertise. 

The communities she proudly serves include Flower MoundSouthlakeGrapevineTrophy ClubKellerColleyville.

 

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MONTHLY MARKET RECAP – SOUTHLAKE TEXAS – February 2017
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