arlington home sales

The property at 1404 Millbrook Dr. in Arlington is one of many on the market now, and homes in that market are fast appreciating.

It’s not just Dallas and northern suburbs where homes are notably appreciating and sales are “fly-off-the-market” fast. Arlington, Grand Prairie, and Mansfield showed substantial increases last month in both home prices and sales, according to a new report from the Arlington Board of Realtors.

Arlington home sales increased 9 percent, Grand Prairie’s increased 9 percent, and Mansfield home sales increase a whopping 36 percent in March 2016. Home prices increased in all markets, as well.

“We continue to be in a strong real estate market, as the numbers show,” said Tim Beary, 2016 Chairman of the Arlington Board of Realtors.

The numbers for homes sold, median price, monthly housing inventory, average number of days on the market, and active home listings were all notable in these three DFW markets.

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Sales of existing single-family homes in North Texas slid 11 percent in January, or so everyone is reporting, but here’s the good news: the median home price rose 8 percent, this from the Texas A&M Real Estate Center said Tuesday.I think we need to keep our eye on that ball.

In January 2011, 3,073 homes were sold in the 29-county region, down from 3,330 in January 2010, the Center said. But remember that January 2010 number was inflated by the first-time homebuyer’s program.

So it was the eighth straight month that home sales were down from a year earlier, but I see that as no cause for concern other than to ask, again, why are the banks not loaning out money? In fact, instead of another first-time homebuyer’s program, why don’t we have a first-time home borrower program? I hear story after story of wealthy people with great credit who cannot get loans simply because they do not have a W-2. We bailed out the banks, but here we are, two plus years into this recession, still no loosening of the loan strings.

On a very positive note, I think, the median home price was up 8% in January to $140,010 from January 2010. That may have happened because of a flux of high-end home sales, such as that of the Jonas Brothers K2. The best case scenario is that if we can hold home values steady for a few years ’till the banks loosen up, people will get loans and then start buying all over.