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.
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.