January 2025 Southlake Real Estate Market Update
January 2025 Southlake Real Estate Market Update
Hello, Southlake homeowners and prospective buyers! I'm Dana Pard, a real estate broker in Southlake, Texas. In this market update, I’ll be sharing key insights from the MLS, along with my personal experiences in buying and selling real estate in Southlake over the past month. If you're considering buying or selling a home in Southlake, this update is for you.
Southlake Home Price Trends
Since 2019, Southlake’s home prices have shown steady growth, but the market has experienced some volatility in recent years. Here’s a closer look at the numbers:
The median home price for January 2025 was $1.13 million.
Historically, January tends to have lower price points compared to the rest of the year.
In 2020, the median home price was $838,000, rising consistently year-over-year, except in 2024 when it dipped slightly to $1.25 million.
Looking ahead, we anticipate prices will increase again with the typical selling season in April, May, and June.
Number of Homes Sold
19 homes were sold in January 2025, compared to 18 homes in January 2024, indicating a stable market.
As we move into the peak selling season, we expect the number of homes sold to rise.
Days on Market
The average time a home spent on the market in January was 74 days, down from 104 days in December.
This drop is significant and suggests that buyers are becoming more active.
While technically, with 3 months of inventory, Southlake is in a seller’s market, it still feels like a buyer’s market as homes that have been sitting longer are more negotiable.
Updated homes priced correctly are selling the fastest.
Housing Inventory Supply
Southlake currently has 3 months of inventory, which is a balanced and healthy level.
Back in the peak market of 2021, inventory was less than a month, making it much more competitive.
Price Per Square Foot
The average price per square foot in January was $342.
New construction homes tend to be higher, ranging from $500 to $550 per square foot, depending on materials and finishes, with luxury builds reaching up to $600 per square foot.
Offer Prices and Negotiation
On average, homes sold for 96.3% of the list price in January 2025.
This is a notable shift from the hot market days when homes were selling at 105% of the list price.
If you’re a buyer, each home needs to be evaluated individually, considering factors such as market time and competition.
Sellers should price their homes strategically to maximize their returns while ensuring a quicker sale.
Expired Listings
Only 27 homes expired in January, compared to 89 expired listings in December.
This decline in expired listings indicates that more homes are being priced correctly and successfully finding buyers.
Final Thoughts
The Southlake market remains competitive, but with increasing buyer activity, now is a great time to plan your next move. If you’re thinking about buying or selling, I’d love to help! Fill out the Sell My Home Questionnaire or Dream Home Questionnaire in the link below, or give me a call, and let’s get started on achieving your real estate goals.
Let’s make 2025 a great year for Southlake real estate!
