As per the Prudential Texas Properties February 2014 reports, the Dallas-Fort Worth region, has seen a huge inflow of interested home buyers after registering a whapping 21% slope compared to the active listing of the same month last year and 5% drop from the previous month signaling a drop on the current inventory. Such decline may signal a positive trend in the local inventory turnover rate which is also an indicator that theDallas properties market is zooming up!
As per U.S. Census Bureau statistics, the Dallas-Fort Worth area has registered the third-highest population growth from July 2012 to July 2013. Just a few figures behind that of New York and Houston, Dallas-Fort Worth population ballooned to 108,000 people more than its size, tallying up to more than 6.8 million residents.
The real estate market in Fort Worth continues to climb upwards, as noted by Altos Research, a California-based real estate analytics company. Demand and home values have both increased drastically. The median single-family home value in the city was marked at $154,113. Median sale price for Feb 2014 is pegged at $250K from a pricing of $202.2K in the past year. As for the demand, the number of units sold for Feb 2014 dropped by 5% from the same month of 2013.
There is a quick turnover as per the Dallas properties are concerned. This positive trend indicates positive momentum on the market trend and it has no indication of slowing down until the advent of spring. As the competition for properties heats up, so does the Real Estate market which will lead to active agents and fast-paced buying and selling. So, hold on to your properties, partners because the Texas Real Estate market is on a wild Rodeo Ride and y’all don’t have any choice but to ride ‘em til it slows down! Yeeee -Haa!
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