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 2016 vs. May 2015
47 homes sold in May 2016 in Southlake, Texas. This is 22 fewer homes than the 69 homes that closed in May 2015.
- The average sale price for the homes that closed in May 2015 was $708,372.
- The average sale price for the homes that closed in May 2016 was $753,380.
- The average market time (aka Days on Market) for the homes that closed in May 2015 was 47 days.
- The average market time (aka Days on Market) for the homes that closed in May 2016 was 42 days.
- The total amount of volume for the homes that closed in May 2015 was $41,085,576.
- The total amount of volume for the homes that closed in May 2016 was $35,408,860.
Homes Under Contract For May 2016
There were a total of 87 homes under contract or sale pending through May 31, 2016. The average market time for these homes was 78 days. The average list price for the homes under contract was $808,528.
Current Southlake Texas Homes For Sale Inventory Levels
There are currently 249 homes on the market in Southlake Texas. The average list price is $1,022,507. The average market time for these homes is 97 days. The market absorption rate as of May 31, 2016, was 5.2. This means that if no other homes came on the market in Southlake, it would take 5.2 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.
Are you looking for a home in Southlake? If so, check out 1600 Pecos Drive, Southlake!
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.
Special Events in Southlake – May 2016
Check out 25 Reasons to Visit Southlake!
Thursday, June 9, 6-7pm * The Marq * LiveFit LiveWell Lecture Series * Dr. Walter Gaman will be presenting “Grocery Store Must-Haves for Longer Life”. Childcare is also provided. Click for details of this event and future lecture topics.
Sunday, June 19, 6-9pm * Southlake Town Square* The 6th annual “Showcase in the Square” concert. This FREE concert will once again provide guests with an amazing musical experience from the World Class Crossmen Drum Corps, Genesis Drum Corps, and Metro Praise Youth Orchestra! Bring your friends, family, chairs & blankets and be prepared for an amazing concert of talent.
Plan ahead for July 4th Events in Southlake on July 3!
The above information regarding the “Southlake Texas Real Estate Market Recap – June 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.