Every major Texas city has seen its home prices rise over the past decade. Only one metro area saw its median home value nearly double — Dallas-Fort Worth.
The median home price in DFW skyrocketed 94 percent from 2011 ($149,900) to 2020 ($291,000), according to a new report from the Texas Association of Realtors, which reviewed home-selling activity across the state during the previous 10 years (2011 through 2020).
According to the report, three-fourths (434) of all homes sold in Texas over the past decade were in the Dallas-Fort Worth and Austin metro areas. The top list was DFW, with 923 528 homes sold between 2011 and 2020. Houston (811,105), Austin (315 9,946), and San Antonio (292 322) were close behind.
Texas saw a 76 percent increase in the median home price from 2011 ($146,988), to 2020 (259,188), with more than 3,000,000 homes sold. Each:
- According to the report, Austin saw an 82 percent increase in median home prices from 2011 ($189,000) to 2020 ($343,914). The $300,000.0 mark was not reached in any other Texas metro, although oil-rich Midland ($299,000) came close.
- Houston saw a moderate rise in median home prices, at 68 percent, from 2011 ($154k500) to 2020 ($260,000).
- San Antonio saw the median home price increase by just 65 percent between 2011 ($150,681) and 2020 ($249,000).
DFW homebuyers did not experience the most sticker shock between 2011 and 2020. This dubious honor was awarded to Sherman-Denison in north Texas, where the median home value jumped 130 percent from 2011 ($87,000) to 2020 ($200,000).
“We’ve had a dynamic real estate market in Texas over the past decade,” Marvin Jolly, chairman of the Texas Association of Realtors, says in an August 5 news release. The pandemic, large population growth, and other factors have all impacted real estate transactions and property ownership.
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