1st Quarter Report 2024
The information and data below is intended to give you a glimpse at the 1st quarter 2024 market when compared to 2023’s 1st Quarter. This general information is intended to give you a brief overview. Not intended for sales use. If you’d like more details about how the market compares to your specific property, or potential purchase, we have multiple agents that can happily assist you. With that, let’s dive into the data.
Homes
- 2023:
- Average Days on Market: 56.5 days
- Average Closing Price: $1,850,000
- Average Square Footage: 3,132 sq ft
- Average Cost per Square Foot: $616.65
- Sales Count: 2
- 2024:
- Average Days on Market: 34.0 days
- Average Closing Price: $850,000
- Average Square Footage: 3,600 sq ft
- Average Cost per Square Foot: $498.83
- Sales Count: 1
Lots (Unimproved Land)
- 2023:
- Average Days on Market: 180 days
- Average Closing Price: $130,000
- Average Acreage: 1.837 acres
- Sales Count: 2
- 2024:
- Average Days on Market: 286 days
- Average Closing Price: $454,667
- Average Acreage: 0.84acres
- Sales Count: 3
Condos/Townhomes
- 2023:
- Average Days on Market: 100.5 days
- Average Closing Price: $405,000
- Average Cost per Square Foot: $316.41
- Sales Count: 2
- 2024:
- No sales recorded in the first quarter of 2024.
Summary
- Homes: There was a significant decrease in the average closing price and days on market from 2023 to 2024. This can be attributed to the fact that 2023’s sales were both waterfront homes, versus the interior sale of 2024’s home.
- Lots: All three of the lots sold in the 1st Q of 2024 were waterfront, non-dockable properties. 2023’s sales were both interior Reserve lots.
- Condos/Townhomes: Sales were present only in 2023, showing a considerable market duration and a moderate closing price. No sales data for 2024.
*Data gathered exclusively from North Texas Real Estate Information Services (NTREIS) MLS System as of 4/28/2024
Written by Matthew Renfro