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Price Per Square Foot Jumps in Dallas-Fort Worth

July 19th, 2013 | by The Update
Price Per Square Foot Jumps in Dallas-Fort Worth

Year-over-year, price per square foot jumped from $127 to $138, an 8.7 percent increase in Dallas, according to the July State of the Real Estate Market report from Movoto.

In Fort Worth, price per square foot increased from $74 to $81, a 9.5 percent increase.

The Movoto data falls in line with what agents with Briggs Freeman Sotheby’s International Realty have been reporting since January 2013 for well-priced homes in good condition sold in desirable neighborhoods.

July 2013 State of the Real Estate Market by Movoto

Here’s an excerpt from the Movoto report:

After a long first half of the year, the housing market appears to be making a comeback now that we are headed into the summer months. According to our monthly State of the Market report, inventory across the country has risen for a second month in a row. This is good news for home buyers, as more houses on the market means less competition from other prospective buyers.

Our data indicated that there were 3,574 more homes on the market in June compared to May.

This good news comes with a catch. While inventory is up, the list price per square foot also increased in the past month. The figure increased from $179 in May to $181 in June. This price increase means that inventory has not risen to the point where home prices will fall. Still, if the trend of rising inventory holds, prices will begin to fall in the next several months.

Click here to read the full report from Movoto.

Click here to read more news about real estate and the economy in Dallas-Fort Worth.

Briggs Freeman Sotheby’s International Realty is Dallas’ luxury real estate leader, with more than 190 agents in five offices located throughout Dallas-Fort Worth and access to the global Sotheby’s network, including more than 11,000 agents in 600 offices worldwide. CEO Robbie Briggs independently owns and operates Briggs Freeman Sotheby’s International Realty. For more information on escapes and second homesranch and land, and luxury homes in the Dallas-Fort Worth region and beyond, go to briggsfreeman.com.

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