Home Sales Rise In Tarrant County And Across Texas

The future is looking brighter for Texas home sellers because home sales in Tarrent County surged in the first quarter of 2012.

Home sales surged in the first quarter across Tarrant County and median prices also rose, according to the Texas Association of Realtors.

The Texas property market picked up momentum between January thru March, with sales state-wide growing 12 percent in the first quarter from the same period a year ago. The average sales price also increased almost 3 percent.

It appears that several factors were responsiple for the quarterly gains including continued job growth and some increased access to credit for home buyers.

From January to March, 45,502 residential properties were sold statewide. The average price for Texas houses during the quarter was $ 147,100, 2.7 percent higher than in the first quarter of 2011.

In Northeast Tarrant County, 1,352 homes were sold, a 12 percent increase from the 1,207 in the first quarter of 2011. The median sales prices rose 7.6 percent, to $ 170,500 from $ 158,400. Homes in inventory also fell to a 4.3-month supply at the end of March, down 30.6 percent from the 6.2-month supply a year ago.

And in Arlington, 810 residences were sold in the first quarter, a 15.8 percent increase over the same period a year ago. The median price rose to $ 124,000, up 3.4 percent. The number of homes in the inventory dropped 34.4 percent, to a four-month supply from a 6.1-month supply a year ago.

Fort Worth, sales reached 1,867 homes, up 19.1 percent from the year-ago quarter. The median price rose 8.1 percent, to $ 114,300 from $ 105,700. Fort Worth has a five-month supply of homes, a 28.5 percent drop from the seven-month supply in the first quarter of 2011.

Statewide at the end of March, the inventory was six months; a balanced market is considered 6.5 months.

Dallas Real Estate News You Can Use!

Dallas Real Estate News is updated every week with a variety of information that you can use in and around your home. In the Dallas Real Estate News, we share relevant and insightful information about the Dallas real estate market.

Make Dallas Real Estate News your exclusive source for information and ideas related to your home!

Plus, be sure to check out all of the wonderful local Dallas businesses here on our website! They stand ready to serve you today! Please don’t forget to mention to the merchant that you saw their information here in the Dallas Real Estate News.

Dallas Real Estate News!