Median Sales Prices in Park Cities Increased by 18 Percent in March

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The median sales price for homes in the Park Cities area rose more than 18 percent in March when compared to the same month a year ago. The following statistics were recently released by the Real Estate Center at Texas A&M University. Supplied by North Texas Real Estate Information Systems, they represent single-family sales in Area 25, which is generally bounded by Northwest Highway, Central Expressway, Wycliff Avenue, and Lemmon Avenue.

[table]Month,Sales,Average price[attr style=”width:90px”],Median price[attr style=”width:90px”],Price per square foot,Sold to list price,Active listings,Days on market,Months of inventory
3/14,64,”$1,378,145″[attr style=”width:90px”],”$1,081,250″[attr style=”width:90px”],$351,95%,229,61,3.4
3/15,67,”$1,330,625″[attr style=”width:90px”],”$1,282,500″[attr style=”width:90px”],$351,97%,251,49,4.4[/table]

There was 4.4 months’ worth of inventory in Area 25 last month. That means if no other homes came on the market, it should take 4.4 months for the current inventory to sell. That statistic was up from a year ago, but the average number of days on the market was down.

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