Southlake Real Estate Market Recap May 2016

Nicole Smith
Published on May 6, 2016

Southlake Real Estate Market Recap May 2016

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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.

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Southlake Texas Real Estate Activity For April 2016 vs. April 2015

58 homes sold in April 2016 in Southlake, Texas.  This is 17 more homes than the 41 homes that closed in April 2015.

  • The average sale price for the homes that closed in April 2015 was $715,439.
  • The average sale price for the homes that closed in April 2016 was $779,009.
  • The average market time (aka Days on Market) for the homes that closed in April 2015 was 89 days.
  • The average market time (aka Days on Market) for the homes that closed in April 2016 was 44 days.
  • The total amount of volume for the homes that closed in April 2015 was $30,043,283.
  • The total amount of volume for the homes that closed in April 2016 was $45,182,522.

 

Homes Under Contract For April 2016

There were a total of 89 homes under contract or sale pending through March 31st, 2016.  The average market time for these homes was 62 days.  The average list price for the homes under contract was $815,236.

Current Southlake Texas Homes For Sale Inventory Levels

There are currently 219 homes on the market in Southlake Texas.  The average list price is $1,044,779.  The average market time for these homes is 97 days.  The market absorption rate as of May 1st, 2016 was 3.77.  This means that if no other homes came on the market in Southlake, it would take 3.77 months to deplete the remaining homes on the market. This is considered a “normal” 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

For a complete list of available real estate in Southlake Texas, 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.

Special Events in Southlake – May 2016

Friday, May 13– Date Night fun at Sur la Table, one of Southlake’s newest businesses. Sur La Table stores are the ultimate place for kitchen exploration and discovery. From helpful, knowledgeable staff and in-store cooking classes to the products they source, they help every customer feel inspired to create memorable meals. If this date doesn’t work for you, explore other options here.

Friday – Sunday, May 20 – Sunday, May 22 – in nearby Grapevine, attend the the 32nd Annual Main Street Fest. Held along Main Street in Historic Downtown Grapevine, guests will experience new and returning favorites at this event, with a special emphasis on craft brew tasting experiences. The 32nd Annual Main Street Fest coincides with American Craft Beer Week. Main Street Fest offers a variety of amenities to make your experience at the festival more enjoyable, including complimentary shuttleshotel packages and much more. It’s sure to be a fun and enjoyable weekend experience for your whole family!

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

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The above information regarding the “Southlake Texas Real Estate Market Recap – May 2016” 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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Southlake Real Estate Market Recap May 2016
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