Through the first six months of this year, the inventory of Southlake homes for sale is up 22% over last year, at 385 homes, and with Southlake home sales down 28% in the same period, one might be concerned about the direction of the real estate market in Southlake. And with over two-thirds of the Southlake homes listed at $500,000.00 or more, is that more gasoline on the fire? It sure does not appear that way. Even with the increased inventory and reduced number of sales, the Southlake average sales price has remained unchanged from one year ago, at $615,855.00 and the median Southlake home sales price is down only 6%, at $503,500.00.
Southlake homes for sale are sitting longer on the market so far this year, versus last year. At the present time, the average number of days on the market for an MLS Southlake listing is 97 days, up 45% from a year ago, and the present inventory of Southlake homes for sale stands at 11.1 month, an increase of over 50% from one year ago.
Timarron Addition in Southlake
There are also several new home construction subdivisions in Southlake at this time. Again, as Southlake is one of the more upscale communities in the Dallas-Fort Worth Metroplex, these new construction homes are at the higher end. New homes are still available in Estes Park, Clariden Ranch, The Enclave, Kimball Hills, Tuscan Ridge, Camden Park, Palomar Estates, Stratford Gardens, St. Emilion and Westwyck Hills to name some of the subdivisions with new construction Southlake homes for sale.
Contact me today with your questions on Southlake homes for sale.
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