Market Update for Dallas County, Texas for April of 2013
April of 2013 was a killer month for Dallas real estate. Median sales price of single family residential homes was up almost 30% from April of 2012. Additionally, the average price per square foot was up over 22% from April of 2012.
Market supply continues to be a problem in the Dallas metro area with under just about a 2.5 month supply of inventory of homes for sale on the market. This is making it very difficult for buyers to find homes to purchase. Additionally, when homes do come on the market (if they haven’t gone under contract prior), multiple offers are not uncommon. The average days on market for homes is down by more than 28% from April of 2012 at just 66 days. You can read more about market supply and absorption rates here.More Industry Reports:
Realtor.com April Market Report for 37 Markets across the country