MIDYEAR 2022 REAL ESTATE MARKET REPORT
Ebby Halliday Companies Market Report
Q2 2022 NORTH TEXAS MARKET
The North Texas market saw a moderate overall decrease in number of new listings and pending sales, but an increase in properties sold in the 2nd quarter of 2022 when compared to the same time in 2021. The price segment that caused this overall decline is the $300K-and-under segment as all other price segments saw growth in new listings, pending sales, and sold properties. The segment that saw the most year-over-year growth is the $750K-$1.5M price segment, which has a 51% increase in the number of properties sold.
North Texas ended the 2nd quarter of 2022 in a seller's market with a 2.4 months' supply of inventory. North Texas is continuing to face pressure on inventory that is contributing to the increasing rise in the home value across the region. The average sold price increased from $409K in June 2021 to $488K in June 2022, a 19% increase, while the average price per SqFt increased by 22% in the same time frame ending at $226 per SqFt in Jun 2022.
Rockwall County saw an overall decrease in market activity in the 2nd quarter of 2022 when compared to the same time last year. The price range contributed the most the overall decrease was the $300K-and-under price segment which saw a 27% decrease in pending sales as well as a 81% decrease in properties sold. The lack of market activity in this price range is primarily a result of home values appreciating to the point where some properties are being pushed out of lower level price segments and into a higher one. The price segment that saw the most activity was the $750K-$1.5M segment, which saw a 230% increase in pending sales as well as a 86% increase in properties sold.
The county ended the quarter with 2.7 months' supply of inventory, keeping it in a seller's market. The continued pressure on inventory has led to the continued appreciation of home prices. The average sold price for the county was $555K as of June 2022, up from $422K in June 2021.
ROCKWALL | HEATH | LAKE RAY HUBBARD
Have questions about the Real Estate Market? Curious about your home's value? Contact Kim Woodul Realtor today! Kim is the Top Producing individual agent in Ebby's Rockwall Heath Lake Ray Hubbard office. Kim has recently been recognized on Ebby Halliday Companywide Honor Roll which includes the top 1% of all agents in DFW across Ebby Halliday Companies, Dave Perry Miller and Williams Trew. If you are looking for a Realtor that is committed to excellence in service and results, contact Kim Woodul Realtor for all your real estate needs across North Texas.
To view the full Ebby Halliday Companies Q2 2022 Midyear Market Update and see statistics across all of North Texas submarkets, click here.