Monthly Market Recap – May 2017 Southlake Texas

Nicole Smith Woodard
Published on June 1, 2017

Monthly Market Recap – May 2017 Southlake Texas

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Real 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 May 2017 vs. May 2016

59 homes sold in May 2017 in Southlake, Texas.  This is 9 more than the 50 homes that closed in May 2016.

  • The average sale price for the homes that closed in May 2016 was $768,787.
  • The average sale price for the homes that closed in May 2017 was $788,744.
  • The average market time (aka Days on Market) for the homes that closed in May 2016 was 57 days.
  • The average market time (aka Days on Market) for the homes that closed in May 2017 was 67 days.
  • The total amount of volume for the homes that closed in May 2016 was $38,439,350.
  • The total amount of volume for the homes that closed in May 2017 was $46,535,896.

Homes Under Contract For May 2017

There were a total of 106 homes under contract or sale pending through May 30, 2017.  The average market time for these homes was 68 days.  The average list price for the homes under contract was $848,293.

Current Southlake Texas Homes For Sale Inventory Levels

There are currently 203 homes on the market in Southlake Texas.  The average list price is $1,108,470.  The average market time for these homes is 91 days.  The market absorption rate as of May 30, 2017, was 3.4.  This means that if no other homes came on the market in Southlake, it would take a little over 3 months to deplete the remaining homes on the market. This is considered an “equilibrium” 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 in Southlake – June 2017

​Summer Kickoff – Southlake Town Square – June 3, 2017

Get ready for the City of Southlake to kick off summer with a big bang boom! This year’s annual event held in Family Park will offer live music from pop band Big, Bang, BOOM, a humongous tipi and entertaining tales from the Tipi Storytellers. Bring the whole gang for photo ops, games and plenty of family-friendly activities to usher in the season. Rita’s Italian Ice will be on hand dishing out cool treats for the more than 1,500 attendees who enjoy this event each year.

Studio ARTHouse

Throughout the year Art House provides art camps for ages 5-16. During school breaks, and throughout the summer kids can create art at week-long camps, or half-day camps. Camps are three hours long and in each camp students will leave with their own creation! Visit Event Website for more information!

Cardiopulmonary Resuscitation – CPR – June 17, 2017, 8:00 AM - 12:00 PM @ 600 State Street

The Southlake Fire Department is a certified American Heart Association training site and teaches classes to the public. The department uses the AHA Heartsaver CPR/AED certification course. The course is a classroom, video-based, instructor-led course that teaches adult, child and infant CPR and AED use, as well as how to relieve choking. This course is for anyone with limited or no medical training who needs a course completion card in CPR and AED use to meet job, regulatory or other requirements. The class does not include First Aid.

PLANNING AHEAD:

Southlake’s Annual Stars & Stripes Celebration – July 3, 2017, 6:00 PM - 11:00 PM @ Southlake Town Square

It’s that time of year again; Southlake’s annual Stars & Stripes celebration is right around the corner and preparations for the highly anticipated event are in full-swing. This year’s event will be held on Monday, July 3, 2017 from 6:00 – 11:00 PM in Southlake Town Square.  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 – May 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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