1st Quarter Report 2024
We’ve had a quick start to the 2024 real estate season. 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: 73.33 days
- Average Closing Price: $1,051,580
- Average Square Footage: 2,960 sqft
- Average Cost per Square Foot: $343.81
- 2024
- Average Days on Market: 166.25 days
- Average Closing Price: $1,097,317
- Average Square Footage: 3,386 sqft
- Average Cost per Square Foot: $314.45
Lots (Unimproved Land)
- 2023
- Average Days on Market: 172 days
- Average Closing Price: $154,500
- Average Acreage: 0.726 acres
- There have been no public sales for lots in The Harbor in the 1st quarter of 2024.
Condos/Townhomes
- 2023
- Average Days on Market: 113.33 days
- Average Closing Price: $551,983
- Average Square Footage: 2,351 sqft
- Average Cost per Square Foot: $233.93
- 2024
- Average Days on Market: 33.5 days
- Average Closing Price: $520,000
- Average Square Footage: 2,226 sqft
- Average Cost per Square Foot: $234.58
Summary:
- Homes: There was an increase in the average closing price from 2023 to 2024, despite an increase in days on market and a decrease in cost per square foot. Homes were generally older and larger in square footage in 2024.
- Lots: Only 2023 data is available, which shows a relatively long average days on market and moderate average closing price for the acreage.
- Condos/Townhomes: The days on market significantly decreased in 2024 compared to 2023, with a slight decrease in closing prices and a minimal change in cost per square foot.
*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