Dallas County home prices soared in July

Home prices in Dallas County are rising faster than in all of North Texas.

Median home sales prices in Dallas County jumped by more than 15% in July from a year earlier, according to data from the MetroTex Association of Realtors.

The median price of $282,500 was the highest ever for Dallas County, and the increase was fueled by a shortage of houses on the market and near-record-low mortgage rates that have boosted sales.

Overall prices for all of North Texas rose about 9% year-over-year.

A "For Sale" sign stands in front of a house on Trees Drive in Cedar Hill, Texas on Monday, August 10, 2020. Home sales in North Texas exploded in July, rising 25% from a year ago to the largest ever single-month sales total.

Home prices in the D-FW are at record high, but the decline in mortgage costs has helped keep homes affordable.

After Dallas County, the largest annual price increase was Rockwall County’s 9.6% gain.

Collin County had the highest median price at $366,000 — up 6.7% from July 2019 levels.

Rockwall County saw the largest annual July sale increase — up 40.4% from a year earlier. And Kaufman County had a 35.1% sales increase from a year earlier.

Tarrant County, which has one of the lowest median prices in North Texas at $250,000, led in total sales last month with 3,354 single-family homes sold by real estate agents.

The Real Estate Center at Texas A&M University and North Texas Real Estate Information Systems announced July sales for North Texas last week, and the MetroTex Association of Realtors released the county-by-county breakdown Monday.

The number of homes on the market is down sharply in all of North Texas’ counties.

The greatest declines were in Rockwall County, down 38.7%, and Kaufman County, down 38.4%.

For all of Texas, home inventories in July were down 24.6% from a year earlier.

Real estate agents sold 44,319 houses statewide last month — up 22.1% from July 2019. And median prices for Texas were up 9.4% last month to $269,000.

Dallas County led North Texas in home price gains.
Dallas County led North Texas in home price gains.(MetroTex Association of Realtors )

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