Home values can change in many forms throughout the year. This can definitely be said about homes in the DFW area. You will need to look at how the value of your home could change and what might come about where you are.
What’s the Average?
It is estimated that as of 2019, the average price of a home in the DFW area is around $191,000. This is about 5 percent below the national average for housing prices throughout the country. The national average is around $202,000.
General Value Increases
The increases in home values around the DFW area are points of note to observe. The region has seen the median price of home sales in the region grow since 2010. The totals have gone from about $160,000 to about $230,000 on average. It is a sign that suggests home values are going up rather quickly and that there’s a good chance those values will keep on rising after a while.
Number of Sales
The number of sales that are coming about in the DFW area has been holding steady as well. There are around 12,000 home sales every quarter in the region since 2012. It has been a relatively constant number that continues to rise and will move along well.
What Could Be Causing This Change?
The changes in home values around the DFW area could be due to the rise in the area’s population. There has been a 15 percent increase in the region’s population since 2010, as the city has grown from 6.4 million people in size to around 7.6 million. The added number of people has led to the rise in properties available for sale, thus helping to keep the value of homes around the area in check.
Meanwhile, the number of jobs in the DFW area is helping to keep home values going up. There has been a 3 percent growth in the number of jobs in the area in recent time. This growth has made it, so it is easier for people to get the money they need for mortgage payments.
What About Foreclosures?
One positive to note about the DFW home market is that foreclosure rates are dropping in the region. It is estimated by RealtyTrac that there has been a drop in the foreclosure rate is about 20 percent in value. With that in mind, there is less of a risk of properties lowering in cost due to people being unable to pay off their homes. You will not have to worry about coming across homes that might struggle and bog down the value of your place in most situations.
You can reach us at Super Cash For Houses if you need help with selling your home in the DFW area very soon. We can assist you with getting a quick sale on your property while working around the overall value of your home.