Texas-Sized Prices for Dallas-Area Homes in Q4
For the first time, three Texas-area zip codes entered the U.S.'s top 10 hottest markets (determined by how much more than the asking price homes sold) in the fourth quarter of this year, says a new report from ZipRealty.
The No. 1 hottest neighborhood went to Forth Worth's 76135 zip code, where homes sold for an average of 135 percent of the asking price.
A community east of Dallas, Rowlett, ranked second garnering an average of 111 percent of the asking price for homes in the area. Forth Worth's largest suburb, Arlington, also made the top 10 list.
Yet across the nation - and even in Texas - signs are not clear whether the stabilization of home prices means a sustained housing recovery.
The median existing home-price in the U.S. was $178,300 in December, a 1.5 percent increase year-over-year, the National Association of Realtors said Monday. Yet the volume of homes sold nationwide dipped in December after consecutively rising for three months.
While pointing to a strong rebound in these Texas communities, the Dallas zip code 75203 fell into one of the "coldest" 10 markets in the country, according to ZipRealty. On average, homes in this southern Dallas community only received an average of 74 percent of the asking price.
Other prominent communities, such as Chicago's Glencoe suburb and New York's affluent Rye neighborhood, reeled in nods as the coldest, leading their metropolitan market with the biggest discount on homes. Chicago's hottest was the near South Side and New York's was Mastic, Long Island.
Near Los Angeles, the area of Tarzana ranked No. 4 in the nation with homes sold for an average of 107 percent of their asking price. Southern California's coldest was Holmby Hills, which borders Beverly Hills to the east.
So despite pockets of heat, for most of us, it's likely going to be another long, cold winter.