Dallas home prices rose 1.2% in 2010, bucking negative trend nationwide
Dallas remained a bright spot on the real estate map in 2010 with prices on nondistressed properties rising 1.2% from a year earlier, the Real Estate Center at Texas A&M University said. The median price on nondistressed Dallas properties rose to $81.52 a square foot in 2010, up from $80.55 for 2009. Even distressed properties in the Dallas area experienced price gains of 2.5% in 2010 when compared to the prior year, the center reported. The median price for distressed properties hit $57.20 a square foot last year, up from $55.80 in 2009. Distressed sales accounted for 16.3% of all Dallas home sales in 2010, compared to 5.7% back in 2003 during the housing boom. The center's positive Dallas report mirrors data from the Federal Reserve Bank of Dallas, which recently said existing home sales in Texas trended upward in the past six months. The Fed Bank also said home prices rose in every major Texas city during the month of January. Write to Kerri Panchuk.