Making our way through the first quarter of 2020, we at CENTURY 21 Judge Fite Company have seen the real estate market headed in a strong direction through the start of the new year. We can attribute this increase in the market to a successful 2019, which proved to be Texas’ best year in real estate yet.
Take a look at some of the record-breaking statistics for Texas Real Estate in 2019:
- Median Home Price = $240,000 (up 3.2% from year prior)
- Closed Sales = 356,576 (up 3.8% from year prior)
- Active Listings = 105,022 (up 5.8% from year prior)
While the “best year yet” may be behind us, we expect 2020 to make its way into the record books next. We’ve seen home prices rise at a steady rate, which provides a better balance for the housing demand this year. With an increase in listings in every quarter, we expect the buyer demand to absorb the new listings – meaning sales will continue to be strong.
The Dallas/Fort Worth market also welcomes new transports on a daily basis and continues to be one of the fastest-growing metroplexes in the country. Our local housing market saw a boost in the last half of 2019 due to lower interest rates, which are expected to remain low for the year of 2020. We know this to be a benefit to both buyers and sellers, as lower rates often serve as an extra incentive for buyers to make their move.
If you’ve been thinking about selling or buying a home, there’s never been a better time to do so in Texas than now. Our exceptionally knowledgeable real estate professionals are prepared to walk you through the market to ensure you have a smooth real estate experience. While North Texas experienced over 108,000 single-family homes sold in 2019, we look forward to helping you exceed your own real estate goals in 2020. Visit one of our 25+ locations across DFW to start now!
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