The overview
The median price for an existing single-family home in the metroplex increased 1.4% to $377,700, according to the report. The median price for condominiums rose 6.1% to $265,200 during the same period, according to the report.The report measures median home prices across several North Texas counties, including Collin, Dallas, Denton and Tarrant. The report reflects data gathered between January and March.
Quote of note
“The Collin County-area inventory more than doubled year over year in April, while closed sales continued to rise month over month as they have since November 2023,” said Jamuna Thill, president of Collin County Area Realtors, in a May 13 statement. “Home buyers and sellers should expect an active market with no signs of slowing through the summer months.”
In comparison
In the Austin-Round Rock area, median home price decreased 0.3% to $466,700. Home prices in the Houston-Woodlands-Sugar Land area increased 2.2% to $334,100. Home prices in San Antonio and New Braunfels decreased 4.6% to $305,800.Zooming out
Dallas-Fort Worth was one of 205 metropolitan areas in the country that saw a rise in median home prices during the first quarter of 2024. The median price of a home in the U.S. was $389,400, according to the report. The 30-year fixed mortgage rate ranged between 6.6% and 6.94% during the first quarter.
Each major region in the country saw increases:
- 11% increase in the Northeast
- 7.4% increase in the Midwest
- 7.3% increase in the West
- 3.3% increase in the South
