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.
Single Family Homes
- Q1 2023:
- Average Days on Market Before Closing: 157.7 days
- Average Closing Price: $699,000
- Average Square Footage: 2,160 sqft
- Average Cost Per Square Foot: $323.61
- Sales Made: 1
- Q1 2024:
- Average Days on Market Before Closing: 23.8 days
- Average Closing Price: $2,250,000
- Average Square Footage: 3,183.5 sqft
- Average Cost Per Square Foot: $573.98
- Sales Made: 1
Condos/Townhomes
- Q1 2023:
- Average Days on Market Before Closing: 157.7 days
- Average Closing Price: $582,500
- Average Square Footage: 1,904.5 sqft
- Average Cost Per Square Foot: $318.26
- Sales Made: 2
- Q1 2024:
- Average Days on Market Before Closing: 23.8 days
- No closed sales in Q1 2024 for condos/townhomes
Unimproved Land
- Q1 2023:
- Average Days on Market Before Closing: 157.7 days
- Average Closing Price: $221,583
- Average Acreage: 1.758 acres
- Sales Made: 6
- Q1 2024:
- Average Days on Market Before Closing: 23.8 days
- Average Closing Price: $37,500
- Average Acreage: 1.018 acres
- Sales Made: 4
Summary:
- Single Family Homes: There’s a significant increase in both average closing price and average cost per square foot from 2023 to 2024, coupled with a decrease in days on market.
- Condos/Townhomes: There were no sales for condos and townhomes in Q1 2024, indicating a lack of activity or closed deals.
- Unimproved Land: The average closing price has dramatically decreased from 2023 to 2024, along with a decrease in average acreage, reflecting possibly smaller parcels being sold or variations in land value.
*Data gathered exclusively from North Texas Real Estate Information Services (NTREIS) MLS System as of 4/28/2024
Written by Matthew Renfro with the assistance of AI