Friday, May 31, 2013

Home Prices Jump 9.3% Nationally in One Year

Just the Facts

This sign may not politically correct.
Sometimes you just have to be politically incorrect.

Home Prices Jump 9.3% Nationally in One Year
Home prices are rising at the fastest rate in years, with some communities seeing double-digit gains, as buyers are returning to a market where the number of properties for sale is in short supply.  Prices increased 9.3% in February from a year earlier.  In some of the hardest hit markets, the gains have been particularly heady.  Home prices rose 23% from one year ago in Phoenix and 18.9% in San Francisco.  Nationally, the median home price in March stood at $184,300, up from $154,600 in January 2012.
-          Wall Street Journal, May 1, 2013

Dallas Business Journal Names 3 Best New Communities
The annual DBJ review of best new neighborhoods announced are significant because each of them are large master-planned communities.
·         Light Farms in Celina, 2,700 new homes, lots open in May.  Eventually 8,300 people will call Light Farms their home.
·         Windsong Ranch in Prosper, 3,100 new homes, first phase opening in 2014.  Some 9,500 people will call Windsong Ranch their home.  The development includes 3 school sites, 4 amenity centers and a 150-acre mixed use commercial development.
·         Harvest in Argyle and Northlake, 3,000 new homes, eventually 9,000 residents.   The first phase opens later this year.  It is located in Northlake and Argyle ISDs.
-          Dallas Business Journal, April 26, 2013

America’s Highest Earning Cities
Survey of 562 cities, population over 50,000
Congratulations to Flower Mound, Frisco and Allen
There are 16 cities in the United State with populations over 50,000 where more than 50% of the households in the city earn more than $100,000 per year.  California and Texas dominate this list of high-earners.  Most of these cities are well-to-do suburbs of large metro areas, including Dallas-Ft Worth, San Francisco, Atlanta and Chicago.

Rank
City/CDP
Larger metro area
Percentage of households making over $100,000
Percentage of households making less than $100,000
Percentage of households making $100,000 to $149,999
Percentage of households making $150,000 to $199,999
Percentage of households making $200,000 or more
1
San Ramon, California
San Francisco
63.50%
36.50%
22.10%
16.40%
25.00%
2
Flower Mound, Texas
Dallas-Fort Worth
62.80%
37.10%
28.30%
15.90%
18.60%
3
Pleasanton, California
San Francisco
59.80%
40.00%
22.80%
14.70%
22.30%
4
Yorba Linda, California
Los Angeles
58.80%
41.20%
23.50%
16.70%
18.60%
5
Carmel, Indiana
Indianapolis
58.40%
41.60%
20.90%
14.30%
23.20%
6
Palo Alto, California
San Francisco
57.80%
42.10%
17.70%
11.90%
28.20%
7
Newton, Massachusetts
Boston
55.40%
44.60%
18.00%
11.70%
25.70%
8
Naperville, Illinois
Chicago
54.80%
45.10%
18.50%
13.50%
22.80%
9
Frisco, Texas
Dallas-Fort Worth
53.70%
46.30%
25.70%
14.70%
13.30%
10
The Woodlands CDP, Texas
Houston
53.40%
46.70%
24.70%
13.40%
15.30%
11
Johns Creek, Georgia
Atlanta
52.10%
48.00%
21.20%
10.40%
20.50%
12
Ellicott City CDP, Maryland
Baltimore
51.70%
48.30%
16.80%
16.40%
18.50%
13
Allen, Texas
Dallas-Fort Worth
51.20%
48.90%
24.50%
16.10%
10.60%
14
Lake Forest, California
Los Angeles
50.70%
49.30%
26.70%
13.70%
10.30%
15
Highlands Ranch CDP, Colorado
Denver
50.50%
49.40%
25.60%
12.70%
12.20%
16
Arlington CDP, Virginia
Washington, DC
50.30%
49.80%
18.10%
12.90%
19.30%
Data was obtained from the U.S. Census. 562 cities were included in this analysis.
-          NerdWallet, April 29, 2013

Thursday, May 30, 2013

Supply of Homes Catching Up With Sales?


Supply of Homes Catching Up With Sales?
In 21 of the 24 major metropolitan markets tracked by residential brokerage ZipRealty, new listings outnumbered new sales contracts for the 30 days ending March 15th.   Significant number of sellers are now putting their home on the market, mainly because of increased value and their desire to make a change.    But in some markets, increased listings are only bringing increased buyers, which is certainly what is happening in the Dallas area.   For the first time in months, NTREIS reports there are more listings between April 1, 2013 thru April 25, 2013 than for the same time period last year.    In 2013 for the 25 day period, 14,916 homes were listed.  For the same period last year, 13,978 new listings, meaning an almost 1,000 home increase.   However, the northern suburbs of Dallas and Ft Worth are experiencing even more buyers with more listings.   There is no end in sight of the boom in buyers.
-          USA Today, April 2013 (excerpt)

2013 RISMedia Power Broker Report
The 100 Brokerages With The Most Productive Agents
The 2013 Survey of the Largest U.S. Brokerages

http://www.remaxesp.com/comp_int/wp-content/uploads/2013/04/Screen-Shot-2013-04-03-at-5.36.15-AM-300x189.png

Wednesday, May 29, 2013

AVERAGE PRICE PER SQUARE FOOT – DFW METROPLEX IST QUARTER 2013

Just the Facts

AVERAGE PRICE PER SQUARE FOOT – DFW METROPLEX
IST QUARTER 2013
$310
Park Cities
$87
Richardson
$249
Oak Lawn
$86
Bedford
$202
Preston Hollow
$86
Euless
$146
Southlake
$84
Rockwall
$132
East Dallas
$83
Denton Area
$128
Westlake/Trophy Club
$80
North Oak Cliff
$127
Colleyville
$78
Hurst
$122
Coppell
$75
Wylie
$120
Northwest Dallas
$74
The Colony
$118
Far North Dallas
$74
Ellis County
$117
Lake Highlands
$73
Sachse/Rowlett
$112
Fairview
$67
Arlington
$111
Grapevine
$66
Kaufman County
$105
Keller
$65
Garland
$100
Frisco
$59
Cedar Hill
$98
Plano
$58
Grand Prairie
$97
Sunnyvale
$56
Duncanville
$95
Flower Mound/Lewisville
$54
De Soto
$95
Irving
$52
Mesquite
$94
Allen
$44
Lancaster
$91
Carrollton
$41
South Oak Cliff
$91
McKinney
$40
Pleasant Grove
Source, Dallas Morning News, April 2013
-----------------------------

U.S. Housing Starts - Back Over One Million in March 2013
cid:image001.png@01CE3B68.30793350

Tuesday, May 28, 2013

Average Home Price Increase Now +13% From Last Year

Just the Facts

Average Home Price Increase Now +13% From Last Year
First quarter 2013 home prices in the DFW Metroplex have shown significant increase over the same time period last year.   Below is the analysis by the Dallas Morning News based on the median price increase change from 2012.     The inventory of available preowned homes is now only 1.1 months (The Colony), 1.2 months (Coppell) and 1.3 months (Grapevine and Richardson.   Far North Dallas has shown the most significant price increase at 18% in only one year, followed by Irving (17%), Coppell and Southlake (16%) and Allen (15%).
-          Dallas Morning News, April 19, 2013

YEAR-OVER-YEAR PERCENTAGE CHANGES IN HOME SALES - 1ST QUARTER 2013
CITY
PRICE INCREASE
DAYS ON MARKET
MONTHS' INVENTORY
Far North Dallas
18%
70
2.4
Irving
17%
69
2.7
Coppell
16%
54
1.2
Southlake
16%
78
3.7
Allen
15%
51
1.7
Carrollton
12%
49
1.6
Denton Area
12%
63
2.7
McKinney
12%
50
1.7
Frisco
8%
54
2.1
Grapevine
8%
47
1.3
Flower Mound/Lewisvl
7%
56
2
Plano
7%
57
1.7
Keller
4%
74
2.9
Richardson
4%
49
1.3
The Colony
3%
38
1.1
Land Rush Causing Prices to Go Sky High
Five years ago there were 92,750 available lots in the DFW Metroplex, either on the ground or approved for development.  Today, builders are begging for lots and paying significant premiums.  “If there is going to be a housing shortage anywhere in the country, it’s going to happen right here in Dallas-Ft Worth because we are the fastest growing region in the country,” said Phil Crone, Dallas Builders Association Executive Officer.  “Our inventories are so low that it could manifest itself as a shortage in the next year to 18 months.”  The rapid growth of the region (130,000 annually), and the lack of ready-to-build lots is causing land prices to spike, a cost often passed on the homebuyers.
-          Dallas Business Journal, April 19, 2013