North Texas Real Estate Blog

With the homebuyer’s tax credits available to new and current homeowners, March 2010 real estate sales in Northeast Tarrant County are showing signs of improvement. Based on MLS activity reports for last month, Euless, TX, Saginaw, TX and Hurst, TX indicate an increase in number of sales, average sales price, and a lower average number of days on the market versus data from the previous year. Of all the Tarrant County cities reporting (except for Arlington and Mansfield/Kennedale), the average sales price of nine cities has increased year over year, with Grapevine, TX showing the greatest at 13% higher over the same period last year. The tax credits to homebuyers and the historically lower interest rates are helping to fuel this increase in home sales.
Hurst, TX had 14% more home sales this year than the previous year, had an 11% increase in average sales price, and had a 7% decline in average days on the market. The majority of the cities included in this MLS report averaged less than 100 days on the market, with the exception of Southlake, which averaged 130 days on the market. The increased availability of affordable housing in Northeast Tarrant County was very attractive to home buyers.
On the buyer side of Northeast Tarrant County home sales, the following cities saw a lower average sale price as compared to the previous year: Southlake, North Richland Hills, Trophy Club/Westlake and Colleyville. These cities are home to several exemplary schools and are close to local employers and city amenities.
This report is very encouraging to prospective home sellers that may be ready to sell their home in the near future. Although the government tax credits will be ending soon, the signs of improvement in the local real estate market are positive signs for the future value of homes in this area.