DALTX Real EstateDALTX Real EstateDALTX Real Estate
  • Home
  • Guest Post
  • Agents
  • Contact Us
  • About
  • Advertise With Us
Reading: Sales Volume and Prices Both Climb as Texas Market Finishes 2013 Strong, Economists Say
Share
Font ResizerAa
DALTX Real EstateDALTX Real Estate
Font ResizerAa
  • Home
  • Guest Post
  • Agents
  • Contact Us
  • About
  • Advertise With Us
  • Home
  • Guest Post
  • Agents
  • Contact Us
  • About
  • Advertise With Us
Follow US
© DALTX. All Rights Reserved.
DALTX Real Estate > Dallas Real Estate Market > Sales Volume and Prices Both Climb as Texas Market Finishes 2013 Strong, Economists Say
Dallas Real Estate Market

Sales Volume and Prices Both Climb as Texas Market Finishes 2013 Strong, Economists Say

3 Min Read
SHARE

Lance-Armstrong-Lake-Austin

We knew 2013 was a banner year for Dallas Realtors as our market pulled itself up by its bootstraps and posted post-recession growth that amazed even the most seasoned brokers. But according to research from the Real Estate Center at Texas A&M University, the market posted year-over-year numbers that showed Texas flexing its economic muscles like never before.

Numbers are up across most demographics, with condo sales, luxury sales, and investment properties getting snatched up at record paces.

“The Texas real estate market showed strength in sales volume and price all year long and the fourth quarter was no exception,” said Texas Association of Realtors chairman Dan Hatfield. “We’ve now seen year-over-year increases in both sales volume and price every quarter for more than two years. This makes it clear – demand for Texas homes is strong and enduring.”

We agree, as the Texas tech industry continues to boom in Austin, pushing up prices and demand reminiscent of the Bay Area’s unfettered growth. High salaries and limited inventories — the statewide numbers show a precipitous drop to a 3.6-month supply of homes (6.5 is recommended for balance between supply and demand) — have resulted in huge price increases. But, as Candy pointed out, not all growth is good for everyone. As prices increase, housing affordability decreases, pushing out lower wage earners.

But Austin’s growth isn’t isolated, as every metropolitan area in Texas posted sales volume and price increases in the fourth quarter of 2013. According to the report, 60,998 single-family homes were sold in the state during the fourth quarter — 6.78 percent more than fourth quarter 2012. Median home prices increased 8.48 percent from fourth quarter 2012 to $172,600, and the average home price was a whopping $226,216 — up 8.88 percent from Q4 2012.

Real Estate Center economist Jim Gaines Ph.D. explained: “One thing that is notable about the price increases seen in the fourth quarter is that they are relatively consistent across the state. Those increases are being seen in markets of every size, not just in the largest Texas markets, so that indicates broad-based appreciation for Texas real estate.”

“Demand for Texas homes in 2014 should continue, but it’s possible that a shortage of inventory could inhibit sales volumes,” Gaines added. “The steady price increases we’ve seen recently should help alleviate that, enticing more sellers into the market, but buyers should continue to expect to compete for desirable properties.”

Interesting outlook for 2014. What do you think? Will the growth price-wise lure more sellers to the market?

This Reinvented Ranch Has Drama, Luxury, And a ‘Sex And The City’ Closet
New Continental Bridge Park Opens Ahead of New Cities Summit in Dallas
Cottage in Cowtown Creates New Terminology
Powerhouse Juli Black Brings Talent, Dedication, and Experience to Keller Williams Premier
Malibu’s Madison Hildebrand Coming to Southlake Friday, Once Lived in Willow Bend
TAGGED:Condo LivingDallasDallas Condo SalesDallas Luxury Real EstateDallas real estate newsEconomyemerging real estate markets
Share This Article
Facebook Email Copy Link Print
Previous Article Here’s the “Beefed Up Security” at Gables Park 17 After Kendra Hatcher Was Gunned Down
Next Article Don’t Ditch Open Houses Just Yet, Says Zillow Blogger Brendon Desimone, as They Turn Looky-Loos Into Serious Buyers
Popular News
Tarrant County

Opendoor Finds a Trove of Family-Friendly Amenities in This Tarrant County City

You Can Rent Just About Anything These Days, Except Eye Bleach
What’s Next for Short-Term Rental Operators in Dallas And Their Neighbors?
BEFORE AND AFTER: Home Transformed from Mawmaw to Mod in Lakeland Hills
Successful Strategies For Real Estate Agents On Threads
about us

DaltxRealEstate.com is the largest real estate blog and the only one in North Texas.

Links

  • Privacy Policy
  • Terms of Service
  • Contact Us
  • Paid Guest Post Submission

Categories

  • Wednesday WTF
  • East Dallas
  • Monday Morning Millionaire
  • Upon Closer Inspection

Get Involved

  • Advertise With Us
  • Write for Us: Submit Guest Post

Find Us on Socials

© DALTX. All Rights Reserved.
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?