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The 2013 real estate market in Lucas, Texas demonstrated consistency and efficiency while catering to diverse buyer preferences. A total of 98 homes closed, matching the previous year’s sales volume, reflecting sustained demand. While high-end estate sales declined, the market leaned toward moderately sized and priced properties, with steady demand for leisure-focused features and efficient transaction timelines.

Total Homes Closed

During 2013, 98 homes were closed, maintaining steady transaction levels from 2012. Among these, 39 homes featured pools, continuing to highlight buyer interest in leisure amenities. Meanwhile, the market introduced 14 new construction homes, representing a slight decrease from the preceding year but consistent with the demand for updated, modern living spaces.

Property Pricing Insights

Property prices in 2013 highlighted a stable market overall but with a shift away from ultra-luxury transactions seen in the prior year:

• Minimum Price: $93,410, broadening affordability for entry-level buyers.
• Maximum Price: $949,000, a notable decline from the previous year’s $2,000,000 high.
• Average Price: $505,722, slightly lower than the 2012 average but reflective of sustained mid-range transactions.
• Median Price: $507,000, rising slightly from 2012, showing steady demand for mid-tier homes.
• Price per Square Foot (Avg): $129.91, up from $125.00 in 2012, showcasing increased valuation of smaller properties.

Property Size and Features

The 2013 market prioritized diversity and practicality in its property features:

• Bedrooms: Homes ranged from 2 to 7 bedrooms, averaging 4 bedrooms.
• Bathrooms: Properties offered 2 to 7 bathrooms, with an average of 4 bathrooms.
• Square Footage: Size spanned 1,346 sq. ft. to 7,232 sq. ft., averaging 3,886 sq. ft., slightly smaller than the previous year’s properties.
• Lot Sizes: Lots ranged from 0.34 acres to 14.56 acres, with an average of 2.011 acres, reflecting less focus on estate-sized properties compared to 2012.

Market Dynamics

Efficiency and improved pricing strategies defined Lucas’s real estate market in 2013:

• Average Days on Market (DOM): 77 days, shorter than the prior year, suggesting quicker turnovers.
• Median DOM: Homes frequently closed within 45 days, a significant improvement from the 70 days in 2012.
• ClsPr/LstPr Ratio: Sellers achieved 97.43% of listing prices, an efficiency boost from the 96.63% seen in 2012.
• ClsPr/OLP Ratio: Original listing prices aligned with 96.64% of final sale prices, a refinement in negotiation efficiency.
• Price per Square Foot: At $129.91, this indicated increased valuations and tighter ranges.

Economic context

Average Electricity Costs in Dallas-Fort Worth in 2013

Electricity prices increased to $0.12 per kilowatt-hour in 2013, compared to $0.11 in 2012. This slight rise might have led consumers to reassess their energy usage and consider more energy-efficient homes. Real estate agents likely saw growing interest in properties with features like modern insulation or smart energy systems, which could offset rising utility expenses.

Average Price for Regular Gasoline in Texas in 2013

Gas prices decreased to $3.32 per gallon in 2013, down slightly from $3.42 in 2012. This minor drop helped ease transportation costs for homebuyers. With slightly lower fuel expenses, potential buyers may have been more open to properties in suburban areas, especially if housing prices were more competitive than in urban locations.

Average 30-Year Fixed Mortgage Rate in 2013

Mortgage rates inched up to 4.16% in 2013 from 3.88% in the prior year. While the increase wasn’t drastic, it may have nudged some homebuyers to act sooner rather than later to secure financing. Homebuyers are encouraged to work with local mortgage loan originators to ensure they understand their borrowing capabilities and can lock in competitive rates with ease.

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 2013

The 2013 real estate market in Lucas, Texas reflected a well-balanced and efficiently operating market, marked by consistent sales volume and evolving buyer preferences. Catering to a wide array of demands, the market provided opportunities for entry-level buyers through affordable pricing while also supporting mid-tier transactions with steady median values.

The presence of leisure amenities like pools and the trend toward practical, moderately-sized properties demonstrated the market’s adaptability to shifting priorities. Improving transaction efficiency, coupled with rising price per square foot valuations, further supported a healthy and dynamic market. Lucas’s ability to combine stability with diversity and growing demand underlines its continued appeal and potential for future resilience.

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 2012 real estate market in Lucas, Texas continued its trajectory of growth, with buyers capitalizing on diverse property options and favorable mortgage rates. A total of 98 homes closed, further confirming the market’s health and increasing buyer confidence. The market also showcased a broader spectrum of available properties, from affordable homes to ultra-luxury estates, catering to a wide range of buyers.

Total Homes Closed

The year saw 98 homes closed, reflecting higher transactional activity compared to the previous year. Among these, 36 homes featured pools, signaling growing demand for leisure-oriented amenities. A total of 15 new construction homes were sold, slightly fewer than the prior year, but still indicative of ongoing interest in modern builds with updated amenities.

Property Pricing Insights

Property pricing in 2012 highlighted strong growth and diversity:

• Minimum Price: $104,000, showing an increased affordability spectrum.
• Maximum Price: $2,000,000, doubling the previous year’s price cap and showcasing a new appetite for high-end luxury estates.
• Average Price: $511,809, reflecting a sharp increase from the prior year’s average, accompanying the rise in premium property transactions.
• Median Price: $492,500, a modest yet consistent rise, indicating demand for mid-tier properties.
• Price per Square Foot (Avg): $125.00, up from $113.83 in 2011, pointing to higher valuations and property upgrades.

Property Size and Features

Lucas’s real estate offerings in 2012 emphasized spacious living and feature-rich homes:

• Bedrooms: Properties ranged from 2 to 7 bedrooms, with an average of 4 bedrooms, maintaining variety.
• Bathrooms: Ranged from 2 to 7, averaging 4 bathrooms, catering to larger households.
• Square Footage: Size varied from 1,152 sq. ft. to 8,700 sq. ft., with an average of 4,010 sq. ft., underscoring demand for generous living spaces.
• Lot Size Area: The largest lots reached 73 acres, a significant jump from the prior year’s maximum of 7 acres, attracting buyers seeking estate-sized properties with vast outdoor potential.

Market Dynamics

Efficiency and negotiation strategies played a key role in the 2012 market, with data reflecting a largely healthy and competitive environment:

• Average Days on Market (DOM): 100 days, slightly higher than the previous year’s 96 days, but still an indicator of steady market activity.
• Median DOM: Homes typically closed within 70 days, maintaining consistency with median closings in 2011.
• ClsPr/LstPr Ratio: Sellers earned 96.63% of listing prices, slightly lower than in 2011, yet indicative of effective pricing strategies.
• ClsPr/OLP Ratio: Original price alignment averaged 93.91%, reflecting minor adjustments in seller expectations during negotiations.
• Price per Square Foot: Averaged $125.00, a step up from 2011, illustrating increased property valuations.

Economic context

Average Electricity Costs in Dallas-Fort Worth in 2012

Electricity prices remained steady at $0.11 per kilowatt-hour in 2012, unchanged from 2011. This stability helped maintain predictability in household budgets, supporting steady investment in real estate. homebuyers could better evaluate prospective homes based on fixed utility costs, encouraging confident decision-making.

Average Price for Regular Gasoline in Texas in 2012

Gas prices rose slightly to $3.42 per gallon in 2012, up from $3.37 in 2011. homebuyers continued to prioritize location and proximity to public transit or work, as elevated gas prices increased commuting expenses. Properties in walkable neighborhoods likely gained more attention during this period.

Average 30-Year Fixed Mortgage Rate in 2012

Mortgage rates dropped significantly to 3.88% in 2012, down from 4.65% the previous year. This marked a historic low that spurred homebuyer activity, particularly for those locking in long-term affordability. Pre-approvals through local mortgage loan originators became an invaluable step in maximizing homebuyer advantages amidst this rate decline.

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 2012

The 2012 real estate market in Lucas, Texas demonstrated robust growth, expanding its reach to cater to diverse buyer needs and preferences. With transactions ranging from entry-level homes to record-breaking luxury estates, the market seamlessly balanced affordability with high-end exclusivity. Increased property sizes, higher valuations, and the inclusion of leisure amenities like pools highlighted Lucas’s adaptability to evolving trends.

Despite slightly extended timelines, competitive pricing strategies and favorable mortgage rates underscored the year’s market efficiency. This convergence of opportunity, variety, and steady performance firmly established Lucas, TX as a dynamic and thriving real estate market poised for sustained growth and appeal.

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 2011 real estate market in Lucas, Texas showed significant improvement in buyer activity, delivering an increase in property transactions and a stronger market balance. With 93 homes sold, the year marked a rebound from prior levels of activity. Bolstered by increased builder confidence, demand for leisure-oriented properties, and favorable mortgage rates, the market presented diverse options for buyers, ranging from affordable homes to ultra-luxury estates.

Total Homes Closed

A total of 93 homes closed in 2011, highlighting a surge in market activity compared to 2010. Of these, 27 featured pools, indicating higher demand for leisure-enhancing properties. Additionally, 25 newly constructed homes catered to buyers seeking modern amenities, reflecting a rise in builder confidence.

Property Pricing Insights

Property pricing in 2011 showed a balanced market catering to a range of budgets:

• Minimum Price: $135,000 (a slight decrease from 2010).
• Maximum Price: $1,000,000 (a sharp increase compared to 2010’s top price of $765,000).
• Average Price: $432,717 (maintaining similar levels to 2010).
• Median Price: $435,000 (a modest increase from $427,750 in 2010).

The consistent average and median prices underline steady demand and confidence in property value.

Property Size and Features

The 2011 market showcased variety in property size and features, appealing to a broad spectrum of buyers:

• Bedrooms: Properties ranged from 2 to 6 bedrooms, averaging 4 bedrooms.
• Bathrooms: Homes featured 2 to 7 bathrooms, with an average of 4 bathrooms.
• Square Footage: Sizes ranged from 1,174 sq. ft. to 6,518 sq. ft., with an average size of 3,770 sq. ft., reflecting buyer interest in spacious living spaces.
• Lot Sizes: Ranged from 0.34 acres to 7 acres, averaging 1.877 acres, accommodating buyers seeking larger lots and outdoor spaces.

Market Dynamics

The 2011 market demonstrated improved efficiency and stronger alignment between listing and closing prices:

• Days on Market (DOM): Average DOM dropped to 96 days, compared to 114 days in 2010, indicating faster sales. The median DOM further improved, falling to 67 days from 74 days in the prior year.
• ClsPr/LstPr Ratio: Sellers achieved 97.11% of listing prices, up from 96.30% in 2010, showcasing enhanced pricing accuracy.
• ClsPr/OLP Ratio: Original listing prices were met 94.67% of the time, reflecting improved seller expectations and buyer price alignment.
• Average Price per Square Foot: Declined slightly to $113.83, from $115.94 in 2010, pointing to market stabilization with increased property supply.

Economic context

Average Electricity Costs in Dallas-Fort Worth in 2011

Electricity prices dipped again to $0.11 per kilowatt-hour in 2011, down from $0.12 in 2010. This slight drop continued to help households manage their budgets with more flexibility for discretionary spending or home-related investments. The lower cost of utilities could boost the appeal of larger homes that might otherwise consume more electricity.

Average Price for Regular Gasoline in Texas in 2011

Gas prices rose noticeably to $3.37 per gallon in 2011, up from $2.64 in 2010. The steep increase likely caused homebuyers to favor properties closer to work or transit hubs. homebuyers in suburban or rural areas likely faced greater challenges due to higher commuting costs.

Average 30-Year Fixed Mortgage Rate in 2011

Mortgage rates dropped further to 4.65% in 2011 from 4.86% in the prior year. This ongoing trend of declining rates supported affordability and encouraged activity among homebuyers. First-time buyers were reminded to get pre-approved through local mortgage loan originators to better understand their purchasing power.

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 2011

The 2011 real estate market in Lucas, Texas showcased strong recovery and adaptability, combining increased sales, diverse property options, and efficient pricing. With transactions surging to 93 closed sales, the year emphasized the market’s ability to cater to a broad buyer spectrum, from affordable entry-level homes to ultra-luxury estates.

The return of high-end sales, renewed focus on leisure properties like pool homes, and a rise in new constructions highlighted the market’s evolving dynamics and buyer confidence. Shortened sales timelines and higher close-to-list price ratios underscored greater efficiency and alignment between buyers and sellers. Supported by historically low mortgage rates, Lucas’s 2011 market not only rebounded but set the stage for sustainable growth and continued appeal for future markets.

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

In 2010, real estate market in Lucas, Texas underwent a modest contraction, with 68 homes closed. Despite this decline from previous years, the market maintained a steady focus on mid-to-upper-tier properties, appealing to buyers seeking spacious layouts and affordability. While activity from developers and buyers slightly slowed, market efficiency and balanced pricing ensured resilience.

Total Homes Closed

A total of 68 homes closed during 2010, reflecting a decrease in transaction volume compared to 2009. Of these, 19 were new constructed homes, indicating some developer presence, albeit lesser than the prior year. Furthermore, 20 homes included pools, showcasing continued interest in leisure-focused amenities.

Property Pricing Insights

The pricing range in 2010 reflected a market catering to various buyer tiers. Key insights include:

• Minimum Price: $144,000 (slightly lower than 2009).
• Maximum Price: $765,000 (a drop from the $870,000 peak in 2009).
• Average Price: $434,220 (a rise compared to $408,511 in 2009).
• Median Price: $427,750 (a jump from $402,500 in 2009).

The upward shifts in average and median pricing highlighted steady interest in mid-tier and upper-middle-tier homes, despite fewer ultra-luxury transactions.

Property Size and Features

Properties in 2010 offered variety and continued to attract buyers looking for comfort and space:

• Bedrooms: Ranged from 3 to 6 bedrooms, with an average of 4 bedrooms.
• Bathrooms: Spanned 2 to 6, with an average of 4 bathrooms.
• Square Footage: Sizes ranged between 1,626 sq. ft. and 5,910 sq. ft., averaging 3,768 sq. ft., slightly higher than 2009.
• Lot Sizes: Lot areas extended from 0.5 acres to 5.316 acres, with an average of 1.886 acres, signaling a preference for spacious living environments.

Market Dynamics

The year showed some slower activity, but sellers adjusted well to price expectations:

• Average Days on Market (DOM): Homes sold after an average of 114 days, up from 105 days in 2009. However, the median DOM of 74 days indicates faster sales in more competitively priced segments.
• ClsPr/LstPr Ratio: Sellers achieved an average of 96.30% of the listing price, consistent with 2009 performance.
• ClsPr/OLP Ratio: Original listing prices were met 92.83% of the time, signifying slightly less room for negotiation compared to 91.68% in 2009.
• Price per Square Foot: The average rose to $115.94, up from $109.82 in 2009, reflecting slight property value adjustments.

Economic context

Average Electricity Costs in Dallas-Fort Worth in 2010

Electricity costs decreased further to $0.12 per kilowatt-hour in 2010, down from $0.13 in 2009. The drop allowed households to manage monthly budgets a bit more effectively. For real estate, affordability in utility costs could make energy-conscious homes an easier sell, particularly as homebuyers explored long-term cost savings.

Average Price for Regular Gasoline in Texas in 2010

Gasoline prices rebounded slightly, averaging $2.64 per gallon in 2010, compared to $2.21 in 2009. The rise in fuel costs likely pushed many homebuyers to evaluate commute expenses alongside their home budgets. Urban areas and transit-centered communities may have seen increased interest as reliable transport options became a key factor.

Average 30-Year Fixed Mortgage Rate in 2010

Mortgage rates declined further to 4.86% in 2010, offering favorable conditions for potential homebuyers. This drop made monthly payments more manageable and contributed to a gradual recovery in the housing market. Pre-approvals with local mortgage loan originators were essential for homebuyers to confidently pursue homes in competitive markets.

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 2010

The 2010 real estate market in Lucas, Texas reflected a period of adjustment and cautious progression, with a decreased number of transactions but consistent focus on mid-to-upper-tier properties. Despite the slower activity, the market maintained a reputation for diversity and balance, offering spacious layouts, modern features, and various price points to appeal to a wide range of buyers. The continued interest in newly constructed homes and pool properties demonstrated the value placed on quality amenities, while the rise in average and median prices showcased enduring confidence in property values.

With mortgage rates hitting new lows at 4.86%, affordability remained a key driver, supporting market engagement even amid challenges. Lucas’s 2010 market once again underscored its adaptability and potential to thrive in changing conditions, leaving a foundation for sustained growth and opportunity.

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 2009 real estate market in Lucas, TX continued to perform steadily with consistent buyer activity. With 83 homes closed, the market demonstrated healthy interest in a range of properties, from affordable to upscale. Builders remained active as 27 new construction homes entered the market, and 26 homes with pools reflected ongoing demand for leisure-centric features.

Total Homes Closed

A total of 83 homes closed in 2009, marking slightly higher activity than in 2008’s 80 homes. The year also saw an increase in 27 new construction homes, up from 22 the prior year, suggesting developer confidence. Additionally, 26 homes featured pools, meeting the preferences of leisure-focused buyers.

Property Pricing Insights

The pricing spectrum remained diverse, accommodating both entry-level and premium buyers. Key pricing insights include:

• Minimum Price: $150,000
• Maximum Price: $870,000
• Average Price: $408,511
• Median Price: $402,500

While the average and median prices saw slight rises compared to 2008, premium property sales peaked at $870,000, a decrease from the prior year’s top sale of $1,000,000.

Property Size and Features

The properties in 2009 offered a wide variety of layouts and sizes, enhancing their appeal to buyers:

• Bedrooms: Ranging from 3 to 6 bedrooms, with an average of 4 bedrooms.
• Bathrooms: Most homes included 2 to 6 bathrooms, averaging 4 bathrooms.
• Square Footage: Sizes varied between 1,400 sq. ft. and 6,171 sq. ft., with an average of 3,697 sq. ft. and a median of 3,515 sq. ft.
• Lot Size: Lot sizes extended from 0 to 5.270 acres, with an average size of 1.771 acres. Though the variety in lot size was reduced compared to 2008, properties retained appeal for diverse buyer needs.

Market Dynamics

The dynamics of the 2009 market reflected a mix of buyer interest and seller flexibility:

• Days on Market (DOM): Homes sold in an average of 105 days, compared to 124 days in 2008, indicating faster transactions.
• ClsPr/LstPr Ratio: On average, sellers closed at 96.23% of listed prices, slightly lower than 96.91% the previous year.
• ClsPr/OLP Ratio: The original list price ratio stood at 91.68%, showing continued negotiation or price adjustments.
• Price per Square Foot: The average price per square foot dropped slightly to $109.82, reflecting moderate adjustments in property valuations.

Economic context

Average Electricity Costs in Dallas-Fort Worth in 2009

The average electricity price in 2009 dropped to $0.13 per kilowatt-hour, slightly down from $0.14 in 2008. This decrease likely provided a small relief for households, freeing up funds for other expenses or savings. Lower utility costs might have made owning a home more appealing, but the overall economic context also played a major role in influencing housing decisions during this time.

Average Price for Regular Gasoline in Texas in 2009

Gas prices averaged $2.21 per gallon in 2009, a sharp decline from the high $3.12 observed in 2008. This steep drop in fuel costs reduced transportation expenses for homebuyers and renters alike. It may have encouraged homebuyers to consider properties further from urban centers, as commuting became less expensive.

Average 30-Year Fixed Mortgage Rate in 2009

Mortgage rates fell to 5.38% in 2009, down from 6.23% the year prior. This notable decrease in rates played a critical role in keeping the real estate market afloat during a challenging economic period. Homebuyers were strongly advised to secure pre-approval from local mortgage loan originators to confidently make offers and take advantage of favorable 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 2009

The 2009 real estate market in Lucas, Texas reflected a robust blend of stability and growth, catering to a diverse array of buyers. With higher sales volumes, shorter transaction times, and a rising inventory of modern constructions, the market demonstrated resilience and adaptability despite broader economic uncertainties.

Balanced pricing and steady demand for leisure-focused amenities like pool homes ensured appeal across income brackets, while significant reductions in mortgage rates enhanced affordability. Lucas’s ability to offer spacious properties, varied price points, and efficient sales underscored its strength as a vibrant real estate market capable of meeting evolving buyer preferences while maintaining overall market consistency.

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 2007 real estate market in Lucas, TX showcased resilience and growth, balancing affordability, luxury, and efficiency. With 71 homes sold, the year highlighted a market dynamic characterized by a steady pace, increasing property values, and broad buyer interest across diverse segments. Despite economic fluctuations, the market maintained its appeal with strategic pricing and high-quality offerings.

Total Homes Closed

A total of 71 homes closed during 2007, slightly fewer than the prior year but indicative of continued buyer activity. A notable 24 homes featured pools, underscoring the ongoing popularity of lifestyle-oriented amenities. Meanwhile, 8 newly constructed homes entered the market, reflecting a decline in new developments compared to the prior year.

Property Pricing Insights

The property prices in 2007 reflected both affordability and luxury, with clear growth in overall value:

• Minimum Price: $96,900
• Maximum Price: $989,000
• Average Price: $412,511
• Median Price: $364,000

The increased maximum price and rising average price signaled a growing interest in upscale homes, while the low minimum price allowed entry-level opportunities for buyers.

Property Size and Features

The 2007 market offered a range of configurations:

• Bedrooms: Most homes included 3 to 7 bedrooms, with an average of 4 bedrooms.
• Bathrooms: Properties had between 2 and 6 bathrooms, averaging 4 bathrooms.
• Square Footage: Homes varied in size from 1,380 sq. ft. to 6,823 sq. ft., with an average of 3,224 sq. ft..
• Lot Sizes: Lot areas ranged from 0 acres to 7.350 acres, with an average of 1.992 acres, appealing to buyers seeking either compact or expansive homes.

Market Dynamics

Market efficiency improved in 2007, with homes selling faster and more competitively:

• Days on Market (DOM): The average DOM was 72 days, down from 85 days in 2006, indicating quicker sales.
• ClsPr/LstPr Ratio: Homes closed at 96.89% of their listed price, showing limited negotiation leeway.
• ClsPr/OLP Ratio: The average ClsPr/OLP was 95.90%, reflecting stable market conditions.
• Price per Square Foot: The average price per sq. ft. rose to $120.87, signaling added value for properties.

Economic context

Average Electricity Costs in Dallas-Fort Worth in 2007

Electricity prices held steady at $0.13 per kilowatt-hour in 2007, unmoved from the prior year. Stability in this area likely eased financial stress for households already grappling with rising costs in other sectors, such as fuel and mortgage rates. A flat rate provided predictability for budgeting utility expenses.

Average Price for Regular Gasoline in Texas in 2007

Gas prices inched up to $2.66 per gallon in 2007, compared to the $2.47 recorded in 2006. This continued upward trend likely heightened the appeal of homes closer to urban centers or near public transportation, where travel expenses could be kept under control. homebuyers may have increasingly evaluated fuel efficiency in their decision-making processes.

Average 30-Year Fixed Mortgage Rate in 2007

The average 30-year fixed mortgage rate slightly dipped to 6.40% from 6.47% in 2006. Despite the minor decrease, rates remained elevated and continued to weigh on affordability. Obtaining pre-approval from a local mortgage loan originator became a critical step for homebuyers aiming to strengthen their purchasing power amid fluctuating 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 2007

The 2007 real estate market in Lucas, TX, demonstrated remarkable versatility, maintaining a balance between affordability and luxury while achieving robust sales efficiency. With diverse offerings ranging from entry-level homes to expansive luxury estates, the market catered to a wide demographic of buyers. Rising property values, coupled with faster sales cycles, highlighted strong demand and strategic pricing efforts.

Despite a dip in new construction homes, the sustained popularity of pool-equipped properties and high-end sales reinforced buyer confidence in the market’s offerings. The slightly reduced mortgage rates added a layer of accessibility, ensuring that Lucas, TX, continued to appeal as both a residential haven and an investment opportunity.

Overall, 2007 marked a year of growth, stability, and opportunity for the Lucas, TX, real estate market, securing its position as a dynamic and thriving marketplace.

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 2005 real estate market in Lucas, TX demonstrated increased activity and evolving dynamics. With 75 homes closed, the market reflected solid demand across different price ranges. While luxury homes continued to appeal to buyers, affordability and faster sales turnover marked key highlights for the year. Despite slight increases in mortgage rates, market engagement remained strong, maintaining the city’s growth trajectory.

Total Homes Closed

A total of 75 homes were successfully sold in 2005, further showcasing the market’s activity growth from the previous year. Among these properties, 22 homes included pools, catering to buyers seeking lifestyle enhancements such as leisure and relaxation. Additionally, 12 homes were new builds, offering contemporary features, although this number was lower compared to prior years.

Property Pricing Insights

• Minimum Price: $49,000
• Maximum Price: $865,000
• Average Price: $367,707
• Median Price: $335,500

The pricing trends highlighted a broad market appeal, with affordability emphasized at entry-level tiers and luxury homes setting the high end of the market spectrum.

Property Size and Features

The homes sold in 2005 reflected diverse property offerings across size and configuration brackets.

• Bedrooms: Properties offered between 3 and 6 bedrooms, averaging 4 bedrooms.
• Bathrooms: Homes included 2 to 6 bathrooms, with an average of 3 baths.
• Square Footage: Homes varied significantly, ranging from a compact 1,900 sq. ft. to a massive 8,260 sq. ft., with an average of 3,273 sq. ft.
• Lot Sizes: Property lots ranged between 0.5 acres and 16.46 acres, with an average lot size of 2.291 acres, catering to both manageable suburban living and spacious outdoor preferences.

Market Dynamics

• Days on Market (DOM): Properties averaged 91 days on the market, significantly dropping from 138 days in 2004, pointing to faster turnover and higher market responsiveness.
• ClsPr/LstPr Ratio: Properties closed at 96.46% of their listing price, indicating limited room for negotiation and a competitive buying environment.
• ClsPr/OLP Ratio: Closing prices averaged 94.51% of the original listing price, reflecting some pricing adjustments yet maintaining solid value.
• Price per Square Foot: The average price per sq. ft. stood at $106.15, reflecting moderate pricing on usable space.

Economic context

Average Electricity Costs in Dallas-Fort Worth in 2005

Electricity prices rose to $0.11 per kilowatt-hour in 2005, a modest increase from 2004’s $0.10. The increase in energy costs could have slightly stretched household budgets, leaving less disposable income for home improvement projects or even down payments. This minor uptick serves as a reminder of how utility prices indirectly shape household affordability.

Average Price for Regular Gasoline in Texas in 2005

The average gas price jumped to $2.18 per gallon, compared to $1.73 in 2004. This significant rise likely affected commuting costs for potential homebuyers, especially those considering homes farther from urban centers. Higher gas prices may have shifted demand toward properties closer to metropolitan job hubs, where transportation costs were comparatively lower.

Average 30-Year Fixed Mortgage Rate in 2005

Mortgage rates edged slightly higher to 5.93% in 2005 from 5.88% in 2004. While this minor increase did not drastically alter affordability, it emphasized the need for homebuyers to act swiftly on favorable properties. To streamline the buying process, it’s crucial for prospective homeowners to secure pre-approval with a local mortgage loan originator, ensuring they can compete 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 2005

The 2005 real estate market in Lucas, TX demonstrated a remarkable balance of diversity, efficiency, and opportunity. With a wide range of pricing options and property features, the market catered to buyers across all demographics—from entry-level purchasers to high-end luxury seekers.

Faster sales turnover, driven by reduced average Days on the Market and competitive price-to-list ratios, underscored the market’s dynamic and responsive nature. While luxury properties like the $865,000 estate highlighted exclusivity, the presence of affordable homes widened accessibility for a broader audience.

Despite a slight rise in mortgage rates, buyer interest remained robust, consolidating Lucas’s position as an attractive hub for real estate activity in 2005. This thriving market reflects a healthy balance between affordability and prestige, paving the way for continued growth and appeal.

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 2004 real estate market in Lucas, TX showcased an intriguing mix of growth, variety, and changing dynamics. With 71 single-family homes sold over the year, the market witnessed a balance between affordability and luxury. Trends highlighted a shift in preferences toward expansive properties, alongside steady activity in all pricing tiers. Favorable mortgage rates of 5.88% further supported market engagement.

Total Homes Closed

A total of 71 homes closed in 2004, marking an increase from the previous year. Among these, 17 properties included pools, continuing the trend for amenity-rich homes. Additionally, 18 sales were for new construction homes, reflecting a modest decrease in modern build availability compared to 2003.

Property Pricing Insights

• Minimum Price: $70,500
• Maximum Price: $900,000
• Average Price: $334,520
• Median Price: $315,000

The broader pricing range indicated a market catering to diverse buyer segments. While the maximum price rose to $900,000, the average sales price trended slightly lower than the previous year.

Property Size and Features

Lucas homes in 2004 exhibited a range of configurations to suit buyers’ needs:

• Bedrooms: Ranged from 1 to 5, with an average of 4.
• Bathrooms: Included between 1 and 6, averaging 3.
• Square Footage: Home sizes varied from 99 sq. ft. to 5,045 sq. ft., averaging 3,222 sq. ft.
• Lot Sizes: Spanned a significant range from 0.5 acres to 26.34 acres, with an average of 2.539 acres.

These features highlighted options for both compact living and sprawling properties with extensive grounds.

Market Dynamics

• Days on Market (DOM): Homes spent an average of 138 days on the market, with a median of 85 days, reflecting slightly slower activity compared to 2003.
• ClsPr/LstPr Ratio: Closed at an average of 95.53% of their listing price, indicating strong market efficiency despite minimal negotiation gaps.
• ClsPr/OLP Ratio: Average closed prices were 94.13% of the original listing price, showing a need for occasional price adjustments to close sales.
• Price per Sq.Ft.: Averaged $102.75, maintaining affordability in comparison to the prior year.

Economic context

Average Electricity Costs in Dallas-Fort Worth in 2004

In 2004, the average electricity price rose slightly to $0.10 per kilowatt-hour, up from $0.09 the previous year. At this level, electricity costs remained relatively stable, offering homeowners and investors a sense of predictability. This steady pricing likely enabled households to budget energy expenses more consistently, allowing them to focus on prioritizing real estate investments with greater confidence.

Average Price for Regular Gasoline in Texas in 2004

Gasoline prices averaged $1.73 per gallon in 2004. This relatively low cost of fuel provided affordable transportation options for homebuyers. With manageable travel expenses, buyers might have been more willing to explore suburban or even rural areas where homes were more affordable. Accessible gas prices could play an indirect role in boosting regional housing markets.

Average 30-Year Fixed Mortgage Rate in 2004

The 30-year fixed mortgage rate settled at 5.88% in 2004. This moderate interest rate made it possible for many homebuyers to purchase homes without facing overly steep monthly payments. A balanced mortgage rate like this encouraged first-time homebuyers to enter the market. It’s vital for homebuyers to get pre-approved for a mortgage by connecting with a local mortgage loan originator to ensure they are aware of how much home they can truly afford.

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 2004

The 2004 real estate market in Lucas, TX showcased a harmonious balance of diversity and opportunity. With a broader price range and a mix of compact, affordable homes and expansive luxury estates, it successfully catered to the needs of a wide spectrum of buyers.

From entry-level properties to high-end homes like the $900,000 estate with its vast acreage, the market emphasized accessibility and exclusivity. Despite slightly longer days on the market, buyer interest remained strong, supported by favorable mortgage rates. The market’s performance demonstrated resilience and growth, reinforcing Lucas’s position as a vibrant and attractive location for homebuyers and investors alike.

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