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Rockwall area home sales, prices, slip below Metro average

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The number of homes sold in the Rockwall area and their median price slipped below the Dallas-Ft. Worth average during the fourth quarter of 2008, compared to the same time period in 2007. 

According to the latest Standard & Poor’s/Case-Shiller Home Price Index released yesterday, only 219 homes sold in the Rockwall area during that time period, a drop of 19 percent, compared to the fourth quarter of 2007.

Their median price of $171,850 was also eight percent lower than the same time the year before.  

Dallas-Ft. Worth area home prices as a whole were down only 4.3 percent in the fourth quarter of 2008, which ranked best in the nation.

Of the 45 DFW areas surveyed, only in Westlake did the number of home sales actually increase - by 16 percent. Prices there also increased by a whopping 30 percent.

In the 44 other areas, the number of sales dropped, although prices did increase in seven suburbs: Cedar Hill, Colleyville, Euless, Ellis County, Frisco, Keller and Northeast Dallas.

Rockwall ranked below 27 areas in sale prices, but only 12 had a greater percentage of home sales than Rockwall.

Some area comparisons:

Rockwall – home sales down 19%, prices down 8%

Rowlett-Sachse – home sales down 42%, prices down 7% 

Wylie – homes sales down 22%, prices down 5%

Mesquite – home sales down 18%, prices down 9%

Sunnyvale – homes sales down 50%, prices down 6%

Kaufman County – homes sales down 17%, prices down 10%

Garland – home  sales down 16%, prices down 5%

Plano – home sales down 32%, prices down 8%

Frisco – homes sales down 8%, prices up 1%

McKinney – homes sales down 24%, prices down 12%

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