NE Tarrant County cities, such as Southlake, Colleyville and Grapevine, continue to post great news for the real estate market.
The North Texas real estate market’s full recovery from the recession likely will continue in 2014, a local real estate agent and a Texas A&M University economist predicted.
They said homes are expected to keep selling quickly and interest rates should remain attractive.
Realtor Lavon Bolech of Southlake said homes in top condition and priced at market value today “sell and sell fast” in her territory, which includes Grapevine, Colleyville, Southlake and Westlake.
In Colleyville, homes were on the market for an average of 98 days in 2012. The number dropped to 63 in 2013. The average number of days in Grapevine dropped from 55 to 34; and from 76 to 63 in Southlake, all according to data compiled by the North Texas Real Estate Information Service.
Sellers also are getting their asking prices, Bolech said.
While prices aren’t as high as they were pre-recession, when many homes sold for over market value, they are better than 2008-12, when a home had to be in perfect condition and priced under market value to sell, she said.
Bolech also said she has also seen multiple offers on properties lately, “something we had not seen in a very long time.”
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