As Dallas's very own Mark Cuban loves to say on Shark Tank, "Boom Goes The Dynamite!", it couldn't be more accurate if you are talking about the Dallas Real Estate Market! Summer 2020 has been a wild and crazy one for a lot of reasons. Many to be unfortunate. However, Dallas just set a record in homes sales for the month of July! Which comes to no surprise as I predicted back in May that this summer was going to be the busiest one ever for home buyers across North Texas.
I have never been busier before in my 8+ years as a Top Selling Dallas Real Estate Agent. My own huge influx of home buyers from all across the United States was very telling as it had tripled in just one month at the beginning of May. By the end of July I had already hit my sales goal for the entire year, and ranked #9 in sales at my real estate brokerage! I am so thankful for this by the way! With a few more transactions closing before the official end of Summer on Labor Day.
Here are the numbers to show what an amazing summer it has been for Real Estate.
North Texas was on fire this past July by hitting an all time high in a one month number of homes sold across the DFW Metroplex. From a year ago home sales went up 25% for a single month! All during COVID-19, and Shelter In Place regulations. This is huge! Not to mention that June was up 16% in sales from a year ago. Which combined, was able to help the housing market get out of a slump from March and April. Pushing North Texas up 3% from this time last year! What more could a busy Dallas REALTOR® ask for?!
Even with all this great news...there's more! With a record number of home sales comes home pricing! The North Texas Median Home Price went up a whopping 9%! Which is one of the largest gains almost since over a year ago. The median sales price was $294,200 for July 2020.
Low interest rates, pent up demand, and low inventory all play a part in this Red Hot Real Estate Market! I have no doubt that the remainder of 2020 will be just as hot! I have almost a dozen new luxury listings hitting the market this Fall! So bring it on!
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