Sold! D-FW Led Texas in 2020 Home Purchases
Dallas-Fort Worth topped Texas in 2020 home sales with a record number of properties changing hands. Sales of homes by D-FW Realtors rose by almost 9% last year with 112,545 purchases handled by real estate agents, according to the Texas Realtors association. Statewide Realtors sold 363,615 houses — an all-time high and an increase of 9.5% from 2019 sales.
“Texas real estate sales broke records despite being in the middle of a pandemic,” Marvin Jolly, 2021 chairman of Texas Realtors, said in a statement. “Housing inventory dropped to historically low levels in many areas of the state, and that shortage of homes for sale made many markets extremely favorable to sellers and challenging for buyers.”
Median home sales prices in Texas increased by 8% to a record $259,230. In Dallas-Fort Worth, home pries were up 6.4% to a $291,000. Austin had the state’s highest home costs, with a median price of $344,000. San Antonio had the largest year-over-year home sales gains in 2020. The number of properties sold by San Antonio real estate agents rose 11.6% from 2019.
Home sales in Texas continued at a frantic pace in January, with continued tight supply. The 2021 housing market will be characterized by strong demand with low inventories accompanied by strong price growth,” said Dr. Luis Torres, research economist with the Texas Real Estate Research Center at Texas A&M University. “Inventories of homes priced under $300,000 will be especially low, affecting sales in that price range...
