10 April 2010

Dallas-Fort Worth Home Sales, Prices Rise

Ft. Worth Star-Telegram

After three months of declines, homes sales in North Texas were up 11 percent in March, according to the Texas A&M Real Estate Center.

Moreover, the median home price rose 6 percent, the largest increase in several months, the figures show.

Locally, Kennedale and central area Fort Worth apartments saw big sales increases of 100 percent and 107 percent, respectively. Those cities were followed closely by Euless, Hurst and Trophy Club/Westlake, all with sales increases of more than 50 percent.

Texas A&M compiles numbers from a 24-county North Texas region for its report.

In March, 6,036 homes were sold in the region. Sales last increased in November, when they jumped 31 percent on the strength of a surge of people returning to the market to take advantage of low interest rates as well as the first-time homebuyer tax credit. Sales numbers then fell in December, January and February.

The median sales price in March was $144,900, a 6 percent increase from a year ago. Median sales prices had only been increasing about 1 percent for the past few months.

Year-to-date, 13,466 homes have sold in the region, a 1 percent increase from the same period a year ago.

April sales numbers are also expected to be high as the second round of the tax credit expires at month’s end.

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