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 July 2017 vs. July 2016
62 homes sold in July 2017 in Southlake, Texas. This is 2 more than the 60 homes that closed in July 2016.
- The average sale price for the homes that closed in July 2016 was $708,430.
- The average sale price for the homes that closed in July 2017 was $797,290.
- The average market time (aka Days on Market) for the homes that closed in July 2016 was 72 days.
- The average market time (aka Days on Market) for the homes that closed in July 2017 was 40 days.
- The total amount of volume for the homes that closed in July 2016 was $42,505,800.
- The total amount of volume for the homes that closed in July 2017 was $49,431,980.
Homes Under Contract For July 2017
There were a total of 81 homes under contract or sale pending through July 31, 2017. The average market time for these homes was 65 days. The average list price for the homes under contract was $860,919.
Current Southlake Texas Homes For Sale Inventory Levels
There are currently 205 homes on the market in Southlake Texas. The average list price is $1,063,062. The average market time for these homes is 109 days. The market absorption rate as of July 31, 2017, was 3.3. 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
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Carroll Independent School District
The above information regarding the “Southlake Texas Real Estate Market Report – July 2017” was provided by Nicole Smith with Keller Williams 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.