North Texas home prices rose at the fastest clip in more than a decade in March.
The median price of a single-family house sold by area real estate agents jumped by 16% to $312,000 last month. That’s the highest price ever for property sales in North Texas.
The price per square foot of homes sold rose even faster — up 19% from March 2020, according to a new report from the Texas Real Estate Research Center and North Texas Real Estate Information Systems.
The surge in home prices in North Texas comes as the shortage of homes for sale worsened.
Only 6,085 single-family homes were listed for sale with local real estate agents in March — less than a one-month supply at current sales rates. There were 71% fewer houses on the market in North Texas than a year ago.
There are fewer homes for sale in North Texas than at any time in more than two decades.
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