Overview of the 75248 Real Estate Market in Texas
The 75248 real estate market in Texas offers a variety of real estate options, including single-family homes, townhouses, and condominiums. Schools in the area consist of Brentfield Elementary School, Bowie Elementary School, Spring Creek Elementary School, and Prestonwood Elementary School. Transportation in the 75248 real estate market is primarily car-dependent, with a Walk Score of 43/100.
Property Types Available in the 75248 Real Estate Market
In the 75248 area, potential buyers can choose from single-family homes, townhouses, and condominiums. Single-family homes in 75248 range in price from $215,000 to over $1 million. Townhouses offer a middle-ground option for those seeking a balance between space and affordability, while condominiums cater to individuals or families looking for low-maintenance living in a convenient location.
To illustrate, single-family homes like the property at 123 Main Street in 75248 offer spacious layouts, private yards, and modern amenities, with prices varying based on factors such as square footage, location, and upgrades.
Homes For Sale In 75248
Comparison of Property Prices in the 75248 Real Estate Market
Property prices in 75248 have increased by 8.0% over the past year. Moreover, the current average home value is $613,987. Different bedroom types have shown varying price changes. Specifically, two-bedroom homes saw the highest price increase according to data from April 2024. Additionally, the median sale price of homes in 75248 is $670,000. This reflects a significant 24.1% increase compared to the previous year.
For instance, a two-bedroom townhouse on Oak Street in 75248 witnessed a 16% price increase. This highlights the demand for this property type and its appreciation over time.
Housing Market Trends in the 75248 Real Estate Market
The real estate market in 75248 exhibited an average listing age of 53 days in April 2024, indicating a 22.1% decrease from the previous year. Additionally, there were 185 homes for sale in the area during that month, marking a 24.2% increase from March 2024. The Redfin Compete Score rates the 75248 housing market as highly competitive, with properties selling swiftly and often receiving multiple offers.
For example, a three-bedroom home in 75248 received multiple offers within a week of being listed. This showcases the demand and fast-paced dynamics of the area.
Factors Influencing Property Prices in the 75248 Real Estate Market
Various factors influence property prices in 75248, with bedroom types playing a significant role in determining price fluctuations. Additionally, external factors such as the local climate, including risks of flooding, wildfires, wind, and heat, can impact property values. Other influential factors include the quality of schools in the area, transportation options, and the overall competitiveness of the real estate market.
For example, the proximity of a property to a top-rated elementary school in 75248 may increase its value due to the desirability of the school district among families looking to relocate.
Key Realtor and Conclusion
Dustin Pitts is a well-known Realtor in Dallas. He specializes in the 75248 area. He provides valuable insights and expertise to clients navigating the local real estate market. Understanding the different property types, price trends, and market dynamics in 75248 is essential. This knowledge helps individuals make informed decisions when buying or selling property in the area.
