admin

The real estate market in Lucas, Texas experienced notable shifts in dynamics throughout 2022.

With rising mortgage rates averaging 5.53%, elevated gas prices of $3.47 per gallon, and higher electricity costs, buyer affordability faced growing pressures. Despite these economic conditions, the market showed resilience, recording 124 transactions and maintaining a diverse range of offerings. HomeBuyers continued to prioritize lifestyle-friendly features such as pools, while Home-Sellers benefitted from stable home values and competitive market activity.

Total Homes Closed

Lucas, TX saw 124 homes sold in 2022, marking a slower pace compared to prior years.

• 25 new construction homes added fresh inventory, with modern design trends and energy-efficient features.
• 60 homes with pools reflected strong demand for leisure-focused properties, supporting the pandemic-era trend of lifestyle upgrades.

Property Pricing Insights

The real estate pricing ranged broadly, catering to both entry-level buyers and high-net-worth individuals.

• Minimum Home Price: $470,000
• Maximum Home Price: $3,725,000
• Average Home Price: $1,143,277
• Median Home Price: $941,087
• Average Price per Square Foot: $287.99

Property Size and Features

Lucas’s homes in 2022 showcased flexibility in size and accommodations to meet varying buyer needs.

• Bedrooms: Ranged from 3 to 8, with a typical home offering 4 bedrooms.
• Bathrooms: Varied between 2 and 8, averaging 4 bathrooms.
• Square Footage: Smaller homes started at 1,312 sq. ft., while luxury properties reached up to 7,596 sq. ft., with an average of 3,929 sq. ft.
• Lot Sizes: Ranged widely, from 0.41 acres to expansive lots as large as 13+ acres.

Market Dynamics

The market in 2022 reflected a steady pace of transactions, favoring sellers but with hints of buyer price sensitivity.

• Days on Market (DOM): Homes averaged 44 days on market, with a median DOM of 17 days, hinting at steady buyer interest.
• ClsPr/LstPr Ratio: Sellers achieved 100.09% of their listing prices, evidencing competitive negotiations.
• ClsPr/OLP Ratio: Averaged at 97.91%, indicating occasional price adjustments during listing periods.
• Average Price per Square Foot: Increased to $287.99, showing a continued upward trend in property values.

Economic context

Average Electricity Costs in Dallas-Fort Worth in 2022

Average electricity prices spiked to $0.18 per kilowatt-hour in 2022, a sharp increase from $0.14 in 2021. Higher energy expenses placed added strain on household budgets, driving demand for energy savings. Homes with modern insulation, solar installations, or energy-saving appliances gained significant appeal during this period.

Average Price for Regular Gasoline in Texas in 2022

Gas prices surged to $3.47 per gallon in 2022, jumping from $2.65 in 2021. The substantial increase in transportation costs likely swayed homebuyers to favor central locations or areas close to public transit. Long commutes to suburban or rural homes might have lost some appeal in light of elevated gas prices.

Average 30-Year Fixed Mortgage Rate in 2022

Mortgage rates climbed steeply to 5.53% in 2022, up from 3.15% the year before. The notable rise in rates significantly impacted affordability, persuading many to reassess their homeownership goals. Homebuyers were urged to secure pre-approval with a local mortgage loan originator to better understand their financial limits in a tightened market.

Curious about today’s mortgage rates and the home you can comfortably afford?

Submit a no-obligation mortgage application today and get pre-approved to determine your budget and take the first step toward homeownership with confidence.

Summary of Real Estate Market Analysis for Lucas, TX in 2022

The 2022 real estate market in Lucas, Texas showcased remarkable resilience and adaptability despite challenging economic conditions, such as rising mortgage rates, higher living costs, and widespread economic uncertainty.

While transaction volume declined, the market maintained robust property values, with both average and median sale prices reflecting sustained demand for mid-tier and high-value homes. Key trends, such as the popularity of pool-equipped properties and an active segment for new constructions, highlighted shifting buyer priorities towards lifestyle-centric and modern designs.

The ability of Lucas’s market to cater to entry-level buyers and affluent investors alike showcased its balance and diversity. Although the pace of sales slowed overall, the market continued to thrive, demonstrating a steady foundation for future growth amidst evolving economic landscapes.

The Importance of Statistical Data in Lucas, Texas Real Estate Market

Did you know that appraisers and Realtors rely on historical statistical data to determine a property’s current value?

Analyzing historical market data is essential for making informed decisions in today’s real estate market. Examining past trends provides valuable insights that facilitate accurate pricing, more strategic negotiations, and a comprehensive understanding of market dynamics.

It’s All About You and Your Real Estate Goals!

My mission is to serve you! With my knowledge and expertise, I’m here to help you achieve all your real estate goals!
I’m passionate about helping buyers and sellers navigate the exciting real estate landscape in Lucas, Texas! Whether you’re searching for your dream home, exploring land options, or looking for commercial properties, my Real Estate Services have you covered.

Contact me today for all your real estate needs in Lucas, Texas! Call/text 214-940-8149

A Comprehensive Analysis of Single-Family Residential Housing Market in Lucas, TX: 2003 to Present

Lucas’s real estate market in 2019 saw a resurgence in activity, recording 143 homes sold, a notable recovery from the previous year. With an emphasis on modern features, leisure-focused amenities, and a steady interest in luxury housing, the market continued to attract diverse buyer groups. Economic factors like a relatively low average 30-year mortgage rate of 4.13% supported buyer confidence, ensuring balance between affordability and demand for upscale properties.

Total Homes Closed

The market closed 143 transactions, a significant increase from 2018’s total of 102.

• 59 homes featured pools, reflecting a sustained preference for outdoor living.
• 33 new construction homes catered specifically to buyers aiming for modern, energy-efficient properties.

Property Pricing Insights

The 2019 market displayed strong appreciation trends across various pricing categories:

• Minimum Price: $302,000, offering entry-level access to homeownership.
• Maximum Price: $1,858,752, showcasing the strength of the luxury segment.
• Average Price: $736,869, reflecting healthy valuation trends.
• Median Price: $714,000, indicating strong activity in the mid-to-upper price range.
• Average Price per Square Foot: $175.23, marking stability in property value per square foot.

Property Size and Features

A variety of homes appealed to different buyer needs with these statistics:

• Bedrooms: Ranged from 3 to 7, with an average of 4 bedrooms, ideal for families or larger households.
• Bathrooms: Configurations ranged from 2 to 7, averaging 4 bathrooms, meeting the demand for extra space and luxury.
• Square Footage: Properties spanned from 1,698 sq. ft. to 7,660 sq. ft., with an average of 4,211 sq. ft., offering ample space for buyers at different price points.
• Lot Sizes: Ranged from 0.330 acres to 17.000 acres, with an average of 1.827 acres, broadening the appeal for buyers seeking outdoor space.

Market Dynamics

Efficiency in the market reflected steady buyer activity and occasional adjustments:

• Avg. Days on Market (DOM): 107 days, showing slightly protracted luxury and niche segments.
• Median DOM: 69 days, indicating quicker sales in the high-demand mid-tier segment.
• ClsPr/LstPr Ratio: 97.43%, demonstrating alignment in buyer-seller expectations.
• ClsPr/OLP Ratio: 93.00%, indicating frequent strategic price adjustments during listings.

Economic context

Average Electricity Costs in Dallas-Fort Worth in 2019

The average electricity price in 2019 climbed to $0.14 per kilowatt-hour, up from $0.13 in 2018. This uptick added some pressure on household budgets, further solidifying the need for energy-efficient homes. Properties featuring solar panels or smart home technologies likely gained value as homebuyers sought ways to mitigate rising energy expenses.

Average Price for Regular Gasoline in Texas in 2019

Gas prices fell slightly to $2.29 per gallon in 2019, down from $2.44 in 2018. This small decline brought modest relief to transportation costs and may have encouraged suburban home purchases, where commuting distances tend to be longer. Homebuyers likely balanced fuel costs with home prices when making location decisions.

Average 30-Year Fixed Mortgage Rate in 2019

Mortgage rates averaged 4.13% in 2019, down from 4.70% the year before. This noticeable decline made homeownership more attainable for many homebuyers and likely spurred activity in the housing market. Pre-approvals through local mortgage loan originators remained key for buyers wanting to confidently pursue homes amid favorable rate conditions.

Curious about today’s mortgage rates and the home you can comfortably afford?

Submit a no-obligation mortgage application today and get pre-approved to determine your budget and take the first step toward homeownership with confidence.

Summary of Real Estate Market Analysis for Lucas, TX in 2019

Lucas’s 2019 real estate market demonstrated a robust comeback, combining diversity, balance, and opportunity to cater to a wide range of buyers. With an increase in transactions, rising median prices, and growing interest in leisure amenities like pool homes and spacious lots, the market reflected vibrant activity and adaptability. The luxury segment flourished, highlighted by record-breaking sales that underscored the city’s appeal to high-end buyers.

At the same time, affordable entry points and modern new construction homes satisfied first-time homebuyers and families alike. Favorable economic conditions, including lower mortgage rates, further supported buyer engagement. Overall, Lucas’s real estate sector proved resilient and forward-thinking, setting the stage for even greater achievements in the years ahead.

The Importance of Statistical Data in Lucas, Texas Real Estate Market

Did you know that appraisers and Realtors rely on historical statistical data to determine a property’s current value?

Analyzing historical market data is essential for making informed decisions in today’s real estate market. Examining past trends provides valuable insights that facilitate accurate pricing, more strategic negotiations, and a comprehensive understanding of market dynamics.

It’s All About You and Your Real Estate Goals!

My mission is to serve you! With my knowledge and expertise, I’m here to help you achieve all your real estate goals!
I’m passionate about helping buyers and sellers navigate the exciting real estate landscape in Lucas, Texas! Whether you’re searching for your dream home, exploring land options, or looking for commercial properties, my Real Estate Services have you covered.

Contact me today for all your real estate needs in Lucas, Texas! Call/text 214-940-8149

A Comprehensive Analysis of Single-Family Residential Housing Market in Lucas, TX: 2003 to Present

The 2018 real estate market in Lucas, Texas exhibited a slight decline in activity compared to prior years, closing with fewer transactions. Despite this contraction, the market showed resilience and adaptability, emphasizing leisure-driven features, modern energy-efficient builds, and a balanced range of housing options. The notably higher average mortgage rate of 4.70% presented challenges, yet buyers continued to engage across various price points, underscoring Lucas’s enduring market appeal.

Total Homes Closed

Lucas, TX saw 102 homes closed during 2018, reflecting a slowdown in transaction volume. Among these, 27 were new construction homes, appealing to buyers seeking contemporary features and energy efficiency. Additionally, 37 properties with pools highlighted the continued demand for outdoor leisure amenities, catering to lifestyle-focused buyers.

Property Pricing Insights

The 2018 housing market displayed a diverse pricing spectrum:

• Minimum Price: $165,000—exhibiting accessibility at the entry level.
• Maximum Price: $1,569,213—featuring luxury estate offerings.
• Average Price: $667,747—slightly higher compared to prior years, maintaining steady appreciation trends.
• Median Price: $647,500—reinforcing Lucas’s mid-market strength for both buyers and sellers.
• Average Price per Sq. Ft.: $175.49—demonstrating rising property valuations.

Property Size and Features

A variety of property sizes and configurations catered to diverse buyer preferences:

• Bedrooms: Ranged from 2 to 6, with an average of 4 bedrooms, ideal for family buyers.
• Bathrooms: Offered 2 to 7 bathrooms, averaging 4, reflecting upscale living options.
• Square Footage: Homes ranged between 820 sq. ft. and 6,693 sq. ft., with an average size of 3,838 sq. ft., appealing to those seeking spacious interiors.
• Lot Sizes: Ranged from 0.413 to 7.034 acres, averaging 1.675 acres, balancing suburban needs with estate-style properties.

Market Dynamics

Efficiency showed mixed results, with certain metrics reflecting slower turnover rates:

• Average Days on Market (DOM): Properties took an average of 91 days, impacted by higher mortgage rates and luxury segments.
• Median DOM: Homes typically sold faster in 55 days, reflecting high demand in the mid-tier market.
• ClsPr/LstPr Ratio: Sellers achieved 96.67% of listing prices, showcasing buyer and seller alignment.
• ClsPr/OLP Ratio: At 92.71%, observed adjustments were common for initial pricing strategies.
• Average Price per Sq. Ft.: Increased to $175.49, reflecting a steady rise in housing valuations.

Economic context

Average Electricity Costs in Dallas-Fort Worth in 2018

Electricity prices increased to $0.13 per kilowatt-hour in 2018, compared to $0.12 in 2017. This climb likely drove demand for energy-efficient housing and renovations, placing greater emphasis on properties with modern upgrades that helped households manage increasing utility costs.

Average Price for Regular Gasoline in Texas in 2018

Gas prices also rose, reaching $2.44 per gallon in 2018, up from $2.19 in 2017. With transportation becoming more expensive, proximity to workplaces and public transportation remained important for homebuyers. Walkable neighborhoods and mixed-use developments gained traction during this period.

Average 30-Year Fixed Mortgage Rate in 2018

Mortgage rates climbed to 4.70% in 2018, from 4.14% in the previous year. For many homebuyers, this level of interest rate signaled urgency to act before rates increased further. Getting pre-approved by a local mortgage loan originator was pivotal for navigating the pressures of a market increasingly shaped by rising rates.

Curious about today’s mortgage rates and the home you can comfortably afford?

Submit a no-obligation mortgage application today and get pre-approved to determine your budget and take the first step toward homeownership with confidence.

Summary of Real Estate Market Analysis for Lucas, TX in 2018

Lucas’s 2018 real estate market highlighted its ability to cater to diverse buyer preferences, showcasing a balance between affordability and opulent luxury. While the overall transaction volume declined, the market demonstrated resilience through price appreciation, modern features, and standout events such as the rapid sale of premium luxury properties. With new construction homes and pool properties maintaining significant demand, the market’s diversity proved crucial in appealing to a broad spectrum of buyers.

Despite the challenges posed by rising mortgage rates, Lucas’s real estate sector thrived by offering a dynamic mix of opportunities, affirming its place as a vibrant and adaptive housing market. Looking ahead, this foundation sets the stage for continued innovation and growth in the years to come.

The Importance of Statistical Data in Lucas, Texas Real Estate Market

Did you know that appraisers and Realtors rely on historical statistical data to determine a property’s current value?

Analyzing historical market data is essential for making informed decisions in today’s real estate market. Examining past trends provides valuable insights that facilitate accurate pricing, more strategic negotiations, and a comprehensive understanding of market dynamics.

It’s All About You and Your Real Estate Goals!

My mission is to serve you! With my knowledge and expertise, I’m here to help you achieve all your real estate goals!
I’m passionate about helping buyers and sellers navigate the exciting real estate landscape in Lucas, Texas! Whether you’re searching for your dream home, exploring land options, or looking for commercial properties, my Real Estate Services have you covered.

Contact me today for all your real estate needs in Lucas, Texas! Call/text 214-940-8149

A Comprehensive Analysis of Single-Family Residential Housing Market in Lucas, TX: 2003 to Present

The 2017 real estate market in Lucas Texas, experienced significant growth and success, with exceptional performance in both new construction and high-value transactions. A mix of classic homes, modern builds, and leisure-oriented properties continued to appeal to various buyer preferences, maintaining the momentum from previous years. While mortgage rates edged higher at 4.14%, the market remained vibrant, showcasing adaptability and buyer confidence.

Total Homes Closed

A total of 148 homes closed in Lucas, TX during 2017, marking a clear increase in market activity. Buyers displayed a strong interest in new construction homes, with 34 sales, a notable jump from prior years. Additionally, 61 homes with pools cemented the appeal of leisure-enhancing features, meeting the needs of lifestyle-conscious buyers.

Property Pricing Insights

The year revealed a robust pricing spectrum, with highlights including:

• Minimum Price: $195,000—Indicating reduced entry-level inventory but higher value on the lower end.
• Maximum Price: $1,361,472—Featuring notable luxury sales.
• Average Price: $660,429—Slightly up from 2016, illustrating continued demand and appreciation.
• Median Price: $649,450—Confirming balanced growth across all market tiers.
• Average Price per Sq. Ft.: $167.08—A moderate increase reflecting rising property valuations.

Property Size and Features

Homes catered to varied buyer demands, from compact urban properties to expansive luxury estates:

• Bedrooms: Ranged from 2 to 8, with an average of 4 bedrooms, satisfying family-focused buyers.
• Bathrooms: Offered 2 to 10 bathrooms, catering to upscale housing aspirations, with an average of 4 bathrooms overall.
• Square Footage: Properties spanned 876 sq. ft. to 7,286 sq. ft., averaging 4,024 sq. ft., demonstrating preference for spacious living.
• Lot Sizes: Ranged from 0.0 to 8.189 acres, with an average of 1.743 acres, blending suburban and estate-style options.

Market Dynamics

Market efficiency and competitiveness were reflected in core metrics:

• Days on Market (DOM): Properties averaged 75 days, though median DOM was just 44 days, suggesting brisk activity for mid-tier homes.
• ClsPr/LstPr Ratio: Sellers achieved 97.81% of listing prices, showcasing robust buyer interest.
• ClsPr/OLP Ratio: At 95.52%, there were some adjustments to original pricing, likely reflecting evolving market conditions throughout the year.
• Average Price per Sq. Ft.: $167.08, continuing a steady rise in property valuations.

Economic context

Average Electricity Costs in Dallas-Fort Worth in 2017

Electricity prices rose to $0.12 per kilowatt-hour in 2017, after a year at $0.11. This small uptick likely reignited interest in smaller homes or energy-efficient features. homebuyers remained cautious about properties with older energy systems, viewing them as less desirable long-term investments.

Average Price for Regular Gasoline in Texas in 2017

Gas prices increased to $2.19 per gallon in 2017, up from $1.91 in 2016. While still relatively affordable, the rise may have led homebuyers to reconsider the financial trade-offs of suburban living. Proximity to public transportation hubs became a more significant factor during housing searches.

Average 30-Year Fixed Mortgage Rate in 2017

Mortgage rates rose to 4.14% in 2017, up from 3.79% the year prior. The return of higher rates reminded homebuyers of the importance of locking in favorable financing terms early. Pre-approval through local mortgage loan originators remained vital to navigating the shifting landscape effectively and with confidence.

Curious about today’s mortgage rates and the home you can comfortably afford?

Submit a no-obligation mortgage application today and get pre-approved to determine your budget and take the first step toward homeownership with confidence.

Summary of Real Estate Market Analysis for Lucas, TX in 2017

The 2017 real estate market in Lucas, Texas showcased outstanding performance, reflecting balance, growth, and adaptability. With an increase in transactions and steady appreciation, the market offered opportunities that spanned across all buyer preferences, from entry-level homes to luxurious custom-built properties. The rise in homes with pool and new construction highlighted the evolving priorities of modern buyers, while price stability and quick mid-tier sales emphasized a healthy market dynamic.

Even with a slight rise in mortgage rates, Lucas, TX demonstrated resilience and diversity, cementing its reputation as a vibrant and inclusive market. The year set a strong foundation for continued growth and success, confirming Lucas’s appeal to a broad spectrum of buyers.

The Importance of Statistical Data in Lucas, Texas Real Estate Market

Did you know that appraisers and Realtors rely on historical statistical data to determine a property’s current value?

Analyzing historical market data is essential for making informed decisions in today’s real estate market. Examining past trends provides valuable insights that facilitate accurate pricing, more strategic negotiations, and a comprehensive understanding of market dynamics.

It’s All About You and Your Real Estate Goals!

My mission is to serve you! With my knowledge and expertise, I’m here to help you achieve all your real estate goals!
I’m passionate about helping buyers and sellers navigate the exciting real estate landscape in Lucas, Texas! Whether you’re searching for your dream home, exploring land options, or looking for commercial properties, my Real Estate Services have you covered.

Contact me today for all your real estate needs in Lucas, Texas! Call/text 214-940-8149

A Comprehensive Analysis of Single-Family Residential Housing Market in Lucas, TX: 2003 to Present

The 2016 real estate market in Lucas, Texas witnessed impressive growth and diversification, offering options for a broad spectrum of buyers. With a higher transaction volume, expanded luxury listings, and an upswing in property values, the market displayed resilience and vibrancy. Adding to its allure were more new builds and properties flaunting leisure-enhancing amenities like pools, creating an aspirational yet adaptable market environment.

Total Homes Closed

A total of 131 homes closed in 2016, highlighting an increase in activity compared to the 124 homes sold in 2015. Among these, 27 were new constructions, a substantial rise reflecting continued enthusiasm for contemporary designs. Meanwhile, 59 homes featured pools, showing a sustained demand for properties with added lifestyle features.

Property Pricing Insights

The 2016 pricing data unveiled a remarkable range and strength in valuations:

• Minimum Price: $150,000, indicating fewer lower-end options compared to the previous year.
• Maximum Price: $1,850,000, showcasing a resurgence in high-value transactions.
• Average Price: $652,136, reflecting significant appreciation in property values.
• Median Price: $600,000, confirming robust mid-tier buyer interest.
• Average Price per Square Foot: $163.62, an uptick that signals heightened valuations in the market.

Property Size and Features

Properties catered to diverse preferences, with sizes and configurations to match:

• Bedrooms: Ranged from 2 to 8, with a market average of 4 bedrooms.
• Bathrooms: Varied from 2 to 8, averaging 4 bathrooms.
• Square Footage: Homes ranged from 1,374 sq. ft. to 7,508 sq. ft., with an average of 4,038 sq. ft. reflecting larger living spaces compared to prior years.
• Lot Sizes: Properties spanned 0.00 to 25.00 acres, averaging 1.996 acres, indicative of increased availability for estate-style homes.

Market Dynamics

Efficiency remained a hallmark of the 2016 market, as seen in:

• Days on Market (DOM): Homes averaged 74 days on the market, up slightly from 67 days in 2015; however, the median DOM fell to 39 days, pointing to faster mid-tier transactions.
• ClsPr/LstPr Ratio: Sellers earned 97.58% of listing prices, reflecting strong buyer and seller alignment.
• ClsPr/OLP Ratio: Declined slightly to 94.85%, suggesting moderate pricing adjustments.
• Price per Square Foot: At $163.62, the market demonstrated clear appreciation and growing buyer demand.

Economic context

Average Electricity Costs in Dallas-Fort Worth in 2016

Electricity prices continued to decrease, settling at $0.11 per kilowatt-hour in 2016, down from $0.12 in 2015. This steady decline further incentivized interest in larger homes, which naturally consume more power. The trend also nudged developers to prioritize energy efficiency in new housing projects.

Average Price for Regular Gasoline in Texas in 2016

Gas prices dropped further to $1.91 per gallon in 2016, down from $2.17 in 2015. This decline reduced commuter expenses, inspiring homebuyers to explore housing options further from city centers. Properties in areas with good road infrastructure likely became more desirable, as homebuyers factored in affordable fuel costs.

Average 30-Year Fixed Mortgage Rate in 2016

Mortgage rates fell slightly again, settling at 3.79% in 2016, compared to 3.99% the prior year. This favorable environment for financing encouraged many homebuyers to jump into the market. Getting pre-approved with a local mortgage loan originator ensured buyers could seize opportunities quickly and position themselves in a competitive market.

Curious about today’s mortgage rates and the home you can comfortably afford?

Submit a no-obligation mortgage application today and get pre-approved to determine your budget and take the first step toward homeownership with confidence.

Summary of Real Estate Market Analysis for Lucas, TX in 2016

The 2016 real estate market in Lucas, Texas, showcased remarkable growth, diversity, and adaptability, solidifying its ability to appeal to various buyer segments. With an increased number of transactions, rising property values, and expanded offerings from suburban homes to luxurious estates, the market demonstrated both resilience and vibrancy.

The addition of new construction homes and the continued popularity of pool properties highlighted evolving buyer priorities. At the same time, the emergence of high-value sales, such as the $1.85 million equestrian ranch, exemplified the market’s potential for standout luxury listings. Supported by favorable economic conditions, including lower mortgage rates, Lucas’s 2016 market delivered a balanced and thriving real estate environment, paving the way for sustained engagement and growth.

The Importance of Statistical Data in Lucas, Texas Real Estate Market

Did you know that appraisers and Realtors rely on historical statistical data to determine a property’s current value?

Analyzing historical market data is essential for making informed decisions in today’s real estate market. Examining past trends provides valuable insights that facilitate accurate pricing, more strategic negotiations, and a comprehensive understanding of market dynamics.

It’s All About You and Your Real Estate Goals!

My mission is to serve you! With my knowledge and expertise, I’m here to help you achieve all your real estate goals!
I’m passionate about helping buyers and sellers navigate the exciting real estate landscape in Lucas, Texas! Whether you’re searching for your dream home, exploring land options, or looking for commercial properties, my Real Estate Services have you covered.

Contact me today for all your real estate needs in Lucas, Texas! Call/text 214-940-8149

A Comprehensive Analysis of Single-Family Residential Housing Market in Lucas, TX: 2003 to Present

The real estate market in Lucas, Texas continued to thrive in 2015, reflecting both stability and progress. With an increase in transactions and diverse property options, the year catered to a wide range of buyers, from first-time homebuyers to those seeking high-value properties. Improved affordability and efficiency characterized a market that balanced practical options with leisure-focused and modern homes.

Total Homes Closed

A total of 124 homes closed in 2015, representing increased activity compared to the prior year’s 108 transactions. Among these sales, 60 homes featured pools, reflecting sustained or growing demand for lifestyle amenities. Additionally, 17 new construction homes entered the market, emphasizing interest in modern, updated housing options.

Property Pricing Insights

The pricing spectrum in 2015 highlighted affordability at one end and exclusivity at the other:

• Minimum Price: $35,000, offering greater affordability compared to 2014.
• Maximum Price: $1,115,000, showcasing high-end property options.
• Average Price: $550,819, reflecting stability in mid-tier housing.
• Median Price: $545,625, slightly increasing from the previous year, confirming consistent buyer demand.
• Average Price per Square Foot: $145.30, a noticeable increase from 2014, signaling an appreciation in property values.

Property Size and Features

Properties represented a variety of configurations suitable for diverse buyer preferences:

• Bedrooms: Homes offered a range from 1 to 7 bedrooms, with an average of 4 bedrooms.
• Bathrooms: Properties had between 2 and 7 bathrooms, averaging 4 bathrooms.
• Square Footage: Sizes ranged from 837 sq. ft. to 6,276 sq. ft., with an average of 3,782 sq. ft.
• Lot Size: Lot sizes ranged from 0.00 to 6.00 acres, averaging 1.652 acres, indicating fewer large estates compared to the previous year.

Market Dynamics

The overall market remained efficient and favorable for both buyers and sellers:

• Days on Market (DOM): Properties averaged 67 days to sell, an improvement from 2014’s average of 70 days. Median DOM also decreased to 42 days, reflecting faster transactions.
• ClsPr/LstPr Ratio: Sellers closed at 97.45% of listing prices, showing strong alignment between listed and sale prices.
• ClsPr/OLP Ratio: Improved slightly to 95.51%, signaling modest adjustments from original listing prices.
• Price per Square Foot: At $145.30, the market demonstrated a clear trend of rising valuations.

Economic context

Average Electricity Costs in Dallas-Fort Worth in 2015

Electricity prices dipped to $0.12 per kilowatt-hour in 2015, down from $0.13 in 2014. This small decrease likely provided a bit of financial breathing room to households, which could have been channeled into homeownership costs. Prospective homebuyers looking for energy-friendly homes continued to dominate market trends.

Average Price for Regular Gasoline in Texas in 2015

Gas prices fell significantly to $2.17 per gallon in 2015, down from $3.15 in 2014. Plummeting fuel costs were a game-changer for homebuyers considering longer commutes. Lower transportation expenses made suburban and rural areas increasingly attractive, potentially driving demand for properties in these regions.

Average 30-Year Fixed Mortgage Rate in 2015

Mortgage rates declined slightly to 3.99% in 2015, down from 4.31% in 2014. homebuyers took advantage of this drop to enter the housing market or refinance existing loans for more affordable terms. Partnering with a local mortgage loan originator to secure pre-approval was crucial for those navigating the competitive environment fueled by lower rates.

Curious about today’s mortgage rates and the home you can comfortably afford?

Submit a no-obligation mortgage application today and get pre-approved to determine your budget and take the first step toward homeownership with confidence.

Summary of Real Estate Market Analysis for Lucas, TX in 2015

The 2015 real estate market in Lucas, Texas reflected a dynamic and well-balanced environment, showcasing its ability to cater to an extensive range of buyers. With a notable rise in transactions, increased demand for leisure-centric features, and a stable mid-tier segment, the market underscored its diversity and appeal.

While high-value luxury sales slightly receded, the year emphasized practicality, modern living, and efficiency in sales. Lower mortgage rates further supported activity, making homeownership more accessible while boosting confidence among both buyers and sellers. Lucas’s evolving housing market in 2015 demonstrated strong adaptability and resilience, cementing its status as an attractive and versatile destination for real estate investment.

The Importance of Statistical Data in Lucas, Texas Real Estate Market

Did you know that appraisers and Realtors rely on historical statistical data to determine a property’s current value?

Analyzing historical market data is essential for making informed decisions in today’s real estate market. Examining past trends provides valuable insights that facilitate accurate pricing, more strategic negotiations, and a comprehensive understanding of market dynamics.

It’s All About You and Your Real Estate Goals!

My mission is to serve you! With my knowledge and expertise, I’m here to help you achieve all your real estate goals!
I’m passionate about helping buyers and sellers navigate the exciting real estate landscape in Lucas, Texas! Whether you’re searching for your dream home, exploring land options, or looking for commercial properties, my Real Estate Services have you covered.

Contact me today for all your real estate needs in Lucas, Texas! Call/text 214-940-8149

A Comprehensive Analysis of Single-Family Residential Housing Market in Lucas, TX: 2003 to Present

The 2014 real estate market in Lucas, Texas demonstrated significant growth and diversity, appealing to a wide array of buyers. With an increase in transaction volume and a variety of property options, the year showcased balanced opportunities, from luxury estates to modern, mid-tier homes. Rising prices and demand for leisure amenities further reflected the market’s robust appeal.

Total Homes Closed

A total of 108 homes were closed in 2014, reflecting a notable increase from 2013. Among these, 45 homes featured pools, emphasizing leisure-focused lifestyles, while 19 new construction homes appeared, providing fresh, modern housing options for buyers.

Property Pricing Insights

Pricing metrics for 2014 highlighted an expansive market accommodating diverse budgets:

• Minimum Price: $200,000, representing a higher entry point than the previous year.
• Maximum Price: $1,950,000, signaling a revival of high-end, ultra-luxury transactions.
• Average Price: $549,353, reflecting a healthier mid-tier segment.
• Median Price: $515,000, reinforcing consistency within mid-range sales.
• Average Price per Square Foot: $139.91, showing increased property valuations.

Property Size and Features

Home sizes and features remained varied, appealing to families and luxury buyers alike:

• Bedrooms: Homes ranged from 2 to 7 bedrooms, with an average of 4 bedrooms.
• Bathrooms: Properties offered 1 to 9 bathrooms, averaging 4 bathrooms.
• Square Footage: Sizes varied between 1,744 sq. ft. to 7,862 sq. ft., averaging 3,860 sq. ft.
• Lot Sizes: Between 0.00 acres and 72.199 acres, with an average of 2.629 acres, showcasing increased interest in both practical and expansive estate properties.

Market Dynamics

The market in 2014 saw improved transaction speed and efficiency:

• Days on Market (DOM): Homes sold in 70 days on average, with a median DOM of 46 days, signaling quick closings.
• ClsPr/LstPr Ratio: Sellers achieved 97.60% of listing prices, indicating strong alignment between list and sale prices.
• ClsPr/OLP Ratio: Original listing prices matched 95.02% of final sale values, suggesting modest price adjustments.

Economic context

Average Electricity Costs in Dallas-Fort Worth in 2014

Electricity prices rose slightly to $0.13 per kilowatt-hour in 2014, up from $0.12 in 2013. This gradual increase added pressure to household budgets, further emphasizing the demand for energy-efficient properties. Sellers with homes featuring solar panels or updated appliances likely had an edge in the real estate market.

Average Price for Regular Gasoline in Texas in 2014

Gas prices decreased to $3.15 per gallon in 2014, down from $3.32 in 2013. Lower fuel costs may have encouraged homebuyers to look at properties in outer suburban areas, knowing transportation expenses were more manageable. This shift could have spurred demand in regions where homes were larger and more economical than urban alternatives.

Average 30-Year Fixed Mortgage Rate in 2014

Mortgage rates edged up to 4.31% in 2014 from the previous year’s 4.16%. This small increase emphasized the importance of timing in home purchases, as homebuyers aimed to lock in favorable terms before rates rose further. Securing pre-approval with a local mortgage loan originator remained a vital step for buyers to gain financial clarity during the purchasing process.

Curious about today’s mortgage rates and the home you can comfortably afford?

Submit a no-obligation mortgage application today and get pre-approved to determine your budget and take the first step toward homeownership with confidence.

Summary of Real Estate Market Analysis for Lucas, TX in 2014

The 2014 real estate market in Lucas, Texas demonstrated remarkable growth, diversity, and adaptability, making it an attractive destination for a wide range of buyers. From affordable properties to ultra-luxury estates, the market successfully addressed varying needs while maintaining robust performance metrics.

The increased sales volume, rising property valuations, and faster transaction timelines highlighted its efficiency and appeal. Coupled with the surge in leisure-focused homes and modern construction, Lucas’s market showcased its resilience and ability to evolve with buyer preferences. With strong alignment between pricing expectations and actual sales, the year established Lucas, TX as a dynamic and balanced real estate hub poised for continued growth.

The Importance of Statistical Data in Lucas, Texas Real Estate Market

Did you know that appraisers and Realtors rely on historical statistical data to determine a property’s current value?

Analyzing historical market data is essential for making informed decisions in today’s real estate market. Examining past trends provides valuable insights that facilitate accurate pricing, more strategic negotiations, and a comprehensive understanding of market dynamics.

It’s All About You and Your Real Estate Goals!

My mission is to serve you! With my knowledge and expertise, I’m here to help you achieve all your real estate goals!
I’m passionate about helping buyers and sellers navigate the exciting real estate landscape in Lucas, Texas! Whether you’re searching for your dream home, exploring land options, or looking for commercial properties, my Real Estate Services have you covered.

Contact me today for all your real estate needs in Lucas, Texas! Call/text 214-940-8149

A Comprehensive Analysis of Single-Family Residential Housing Market in Lucas, TX: 2003 to Present