Over the last year, home prices nationwide have steadily increased. In fact, four states reported home prices that matched their peak, and twenty-two other states reported home prices within 10 percent of their peak prices.
In the Dallas-Fort Worth area, according to North Texas Real Estate Information Systems, we’ve experienced a 10.8% increase in the median sales price of single family homes when comparing the period of Feb 2013 through Jan 2014 to the same period of time a year previous (Feb 2012 through Jan 2013). The median sales price at the end of last month was $173,500 and, at this time last year, it stood at $158,000. At the same time, the days on market have continued to decrease to an average of 65 days. The combination of rising prices and low days on market offers the perfect situation for Dallas-Fort Worth sellers!
Although our market has improved, many homeowners in our community don’t realize just how much prices have improved. So if you or someone you know are one of the millions of homeowners who were underwater on their mortgage, or have been waiting to sell your home until the market improved, now may be the time to sell! We have a report entitled, “Underwater Homes Reach the Surface,” that explains why prices keep rising. Today, homeowners looking to sell their home are in a great position. Do you know how much your home is worth? Probably more than you think!
Click here to download and read the report, and then contact us today for a free market analysis!