Dallas-Fort Worth home sales soar in March!!

Statistics have proven in the past that home sales soar in the early Spring to early Summer….and this year is no different.  Sales of pre-owned single-family homes rose 22 percent in March from last year, with 7,483 properties sold.  It was the most homes sold for the month of March since 2007.  And single-family home sales prices were 8 percent higher this March than in March of 2012.

These numbers have made sales prices in North Texas at a record high.  Homes are currently listing for about $10,000 higher than they were in 2007 before the recession hit.

“Part of the increase is from demand growth, part is from the short inventory of available properties,” said Dr. James Gaines, Real Estate Center economist.  “It’s a double-whammy on prices.”

Even with these high numbers the actual amount of houses available on the market is actually down by 22 percent from a year ago March.  And it is actually at its lowest number of listings in more than 20 years.

George DeCourcy, associate director of the real estate program at the University of Texas at Dallas, said it will take more than the recent price increases to cause a big jump in homes on the market.  “Prices have come back, but not like a bull,” DeCourcy said Monday.  “People feel there is no compelling reason they should move at these prices.  I think you will have to see significant move-up from here before people decide to list their homes,” he said.

“Even as prices escalate, does it make sense to sell my house and buy another one?” he said.  “If home prices went up dramatically, people who had a lot of equity might cash it in, but what would you do with it?”

Since there is a shortage of houses on the market…it can become a sort of bidding war between potential buyers.

In March it was only taking about 65 days for a home in North Texas to sell….which is significantly less than last year.

Another factor in the market is what is called, Hip-pocket deals.  Meaning that a transaction happens on a house privately with out it ever going out to the open market.  “We are hearing that in some neighborhoods as many as 30 percent of the sales are hip-pocket deals,” said Ted Wilson, a housing analyst with Residential Strategies Inc.  “Those sales never make it into the MLS numbers.”

New home sales in North Texas are seeing a rise also.  During the first quarter, new home sales in the D-FW area rose 25 percent from a year ago, according to recent reports by Metrostudy Inc.

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Kevin Rhodes with Keller Williams Realty-Dallas/Fort Worth Region

Cell: 832-233-0265

Email: krhodes@kw.com

www.RealtorRhodes.com or www.SalesInYourNeighborhood.com

Research me on Facebook HERE!

View my YouTube channel HERE!

 

SOLD in JUST 12 HOURS for FULL PRICE!!

 

Well….here’s another example of how well our team works together to get your house sold right away!  The market is busy and we are on top of it.

This home, located at 9237 Niles Court in Heritage Addition, was listed in the MLS on Thursday and had an offer on it by Friday morning.  This beautiful 2 story home boasts 3174 sq feet and upgrades galore!!  Its complete with custom paint, custom chandeliers, a gourmet island kitchen with granite countertops and stainless steel appliances.  Hardwood flooring, beautiful wrought iron staircase, a large gameroom with a study center within it, separate media room with surround sound, intercom system, sprinkler system, gutters, solar screens and a large covered patio to enjoy on those beautiful Texas summer nights!

So based off of the last few blog entries you can see that the market is hot and our team will work to get your home sold and get you into your new home.  How about calling us to list your house?  Or even referring us to a friend or family member that you know is wanting or needing to move?  Contact the Kevin Rhodes Group today at 832-233-0256 or you can email us at krhodes@kw.com.

We look forward to serving your needs down the road!

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Kevin Rhodes with Keller Williams Realty-Dallas/Fort Worth Region

Cell: 832-233-0265

Email: krhodes@kw.com

www.RealtorRhodes.com or www.SalesInYourNeighborhood.com

Research me on Facebook HERE!

View my YouTube channel HERE!

 

Sold in just 2 DAYS!!!

 

Who says the market is slow?  I beg to differ….this home located at 8220 Rio Vista Ct. in the Forest Glenn West neighborhood sold in just 2 days.

This beautiful 2 story home was built in 2006 with a square footage of 3,690.  The home has many great features and upgrades including handscraped hardwood flooring in the entry, study, formal dining, living room and breakfast room. Upgraded Travertine tile in kitchen along with granite countertops and accented with stacked stone.  Hand troweled and Venetian walls.  Huge master bedroom with a recent master shower redo with dual shower heads.  Great media room and game room!  A garage for any man to dream of with bench and cabinets!

So if you are thinking of listing your home, but you are unsure of the market….let me assure you that the market is great and my team can get your house sold too….just like this one!!

 

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Kevin Rhodes with Keller Williams Realty-Dallas/Fort Worth Region

Cell: 832-233-0265

Email: Krhodes@kw.com

www.RealtorRhodes.com or www.SalesInYourNeighborhood.com

Research me of Facebook HERE!

View my YouTube channel HERE!

 

SOLD!!! Come check out 8221 Rio Vista Court!

A true Forest Glenn West custom home with a fireplace in the master bedroom, an executive study with 14 ft ceilings, a see through fireplace to family and formal dining rooms, handscraped hardwood flooring, Up and Downstairs laundry rooms, 2 bedrooms down, with the media room as an optional 5th bedroom.  Largest master bathroom in Forest Glenn West with 14 ft ceilings and 3 shower heads.  Breathtaking, relaxing backyard with flagstone patio, built in bbq pit and built in tv nook.  This house comes complete with professional landscaping and walkways.  This house spacious and equipped with all the upgrades you could want….so come by and check it out!  You won’t be disappointed!

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Kevin Rhodes with Keller Williams Realty-Dallas/Fort Worth Region

Cell:  832-233-0265

Email: krhodes@kw.com

www.RealtorRhodes or www.SalesInYourNeighborhood.com

View my YouTube Channel HERE!

Research me on Facebook HERE!