In Southlake, Home Sales Are Set to Soar in 2014
January 29th, 2014 | by Michelle
Last year marked a banner one for the busy real estate market in popular Southlake. Homes were selling quickly, averaging only 59 days on market before being snapped up by enthusiastic buyers looking to take advantage of the nationally ranked schools, close proximity to travel arteries and numerous athletic fields, parks, lakes and trails.
A Home for Everyone–In 2013, 1,276 homes sold in Southlake totaling $790,000,000. Those numbers are up from the 1,198 homes sold for $689,592,000 the year before. And the average price rose from $575,600 to $619,000. With more than 50 neighborhoods to choose from, buyers are finding that there is a home for everyone in Southlake, from executives on the move to young families and smart-sizers looking for less square footage and more opportunities to enjoy life.
Strong Estate Market–This year, agents are already reporting strong interest in higher end homes priced upwards of $2,000,000. Executives moving from Chicago, California, Washington, D.C., and international locales are opting for larger estates that offer space and privacy. This upper market trend has been growing over the past few years. In 2012, the original list price for the biggest deal in Southlake rang in at $2,700,000 for an exquisite home on Pine Drive. A year later an outstanding home on La Mirada sold. Its original list price was $4,500,000.
Lots of Opportunities—Custom-built homes are always popular in Southlake, and this year is no different. January and February often see strong sales, thanks to families looking to buy and build in time for the start of a new school year in the top-rated Carroll IDS. In Terra Bella, only nine lots remain for those looking to create a dream home in a premier neighborhood.
Agent Advisers–Going forward agents will continue to play a key role in advising clients on strategic pricing—both from the seller’s side and the buyer’s side. Well-priced homes in great condition are generating lots of interest and often, rising prices. The fast-paced market means it’s more important than ever for clients to understand home values and market competition with up-to-the-minute data and expert analysis.
Serving the Metroplex from our office at 5600 Lovers Lane, Suite 224, Dallas, Texas 75209. For more beautiful homes, see briggsfreeman.com. Also see updatedallas.com for the latest in real estate news. CEO Robbie Briggs independently owns and operates Briggs Freeman Sotheby’s International Realty.