Home prices in North Texas climbed 14 percent in May, rising above $200,000 for the second straight month, according to a new report. Kennedale was part of the increase.{{more}}
The hike placed the median sales price for existing single-family homes at a record $215,000, up from $207,000 in April and $189,900 in May 2014, according to the latest monthly housing report from Texas A&M University?s Real Estate Center and the North Texas Real Estate Information Systems, a real estate information provider.
The number of homes sold in the 29-county area rose 6 percent to 9,484 homes. Year-to-date, home sales are up 4 percent to 35,212 homes, the report said.
In Tarrant County, 18 homes were sold in Kennedale, boosting sales 260 percent in the city, the report said. The largest gain in the median price came in southeast Fort Worth, where prices rose 45 percent from a year ago, to $43,500. The most expensive median sales price was in Southlake at $625,000, down 4 percent from May 2014.Of course, the home sales in Kennedale are helped by the new additions that have been cleared and platted with streets, water and sewage. Construction has begun on several new houses in the area. The number of homes sold is small compared to the overall area but it is positive indication of the continued growth in both residential and business development for the city.
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