The real estate market in Irving, Texas, shows a changing dynamic amid fluctuating property values.

The real estate market in Irving, as well as in other nearby cities in the state of Texas, is experiencing varied trends, with changes in sales volumes and property values that increase or decrease investor interest.

Over the past year, the real estate market in Irving, Texas, has seen significant changes in property values and sales volumes. In this beautiful city north of Dallas, a notable peak in property values was observed in September 2023, reaching an average of $395,833. Then, in February 2024, there was a decrease to an average property value of $360,000, a decrease of approximately 9%.

Regarding the number of properties sold, the real estate market in Irving seems to show good stability and a possible leveling in the price structure, which in turn could be due to various economic factors or a change in the quality of the housing inventory; with only slight fluctuations from 1,308 properties in October 2023 to 1,132 in February 2024, indicating that the Irving housing market seems to be moving at a steady pace and at the same level as the Dallas-Fort Worth metropolitan area.

By comparing Irving with nearby cities, we can make a better analysis to understand the real estate dynamics in the area. For example:

In the city of Coppell, a difference can be observed, as the average property values there fell from $699,250 in February 2024 to $647,500 in January 2024. However, the price per square foot remained stable, indicating that while overall values fell, the price of actual space remained the same.

Meanwhile, in the neighboring city of Grapevine, property prices also saw a decrease, falling from $590,550 in September 2023 to $524,990 in February 2024, also showing a decrease in values per square foot.

However, the city of Carrollton shows a different pattern, with an increase in property values from $417,000 in March 2023 to $429,950 in January 2024, with a slight drop to $409,900 in February 2024.

Regarding the current values and volumes of Irving compared to neighboring areas, we have the following:

In February 2024, the average property value in Irving remained stable at $360,000 compared to January 2024. The property count increased from 208 to 237, and the count of properties sold remained quite stable, only decreasing from 1,127 to 1,132 units, reflecting a stable market with small monthly changes.

In contrast, nearby cities showed varying degrees of volatility. The average property value in Coppell remained at $699,250. Grapevine and Euless showed property values with decreases in their average sale prices, suggesting a market correction or possibly an increase in sales of lower-value properties.

Bedford experienced a slight increase in average property values from $353,000 in January 2024 to $380,000 in February 2024, while the average sale price also increased modestly.

The real estate market in Irving and its closest cities shows a panorama of fluctuating prices that reflect the diverse and dynamic nature of the real estate landscape in North Texas, which could attract different types of buyers and investors, as the variety within this region offers opportunities that meet a wide spectrum of real estate goals.

Available Foreclosures: 

Irving: 15 homes available 

Coppell: 8 homes available 

Grapevine: 10 homes available 

Carrollton: 12 homes available 

Bedford: 9 homes available

By Elías DaSilva | 07 de Noviembre de 2024.