Possum Kingdom Lake Real Estate: A Comprehensive Analysis
The real estate market around Possum Kingdom Lake, including popular areas like The Cliffs, has shown significant trends over the past few years. In the 2024 The Cliffs Year in Review, we provide an in-depth comparison of various property types, sales, and pricing data, with a particular focus on waterfront versus non-waterfront properties.
Average Cost Per Square Foot
- Waterfront Condos:
- 2022: $320.86 per square foot
- 2023: $283.91 per square foot
- 2024: $303.26 per square foot
- Waterfront Single-Family Homes:
- 2022: $344.56 per square foot
- 2023: $435.00 per square foot
- 2024: $453.42 per square foot
- Non-Waterfront Condos:
- 2022: $104.70 per square foot
- 2023: $282.78 per square foot
- 2024: $240.01 per square foot
- Non-Waterfront Single-Family Homes:
- 2022: $237.14 per square foot
- 2023: $291.24 per square foot
- 2024: $255.38 per square foot
Number of Sales by Property Type
- Unimproved Land:
- 2022: 85 (1 waterfront).
- 2023: 36 (2 waterfront).
- 2024: 43 (2 waterfront).
- Condos:
- 2022: 4 (2 waterfront).
- 2023: 6 (4 waterfront).
- 2024: 7 (4 waterfront).
- Single-Family Homes:
- 2022: 17 (2 waterfront).2023: 16 (4 waterfront).2024: 5 (1 waterfront).
Average Cost Per Acre (Unimproved Land)
- 2022:
- Waterfront: $318,949.34
- Non-Waterfront: $87,100.36
- 2023:
- Waterfront: $721,365.64
- Non-Waterfront: $97,101.28
- 2024:
- Waterfront: $185,185.19
- Non-Waterfront: $120,728.63
Monthly Breakdown of Sales
- 2022:
- March: 20 sales
- July: 15 sales
- April: 14 sales
- 2023:
- May: 7 sales
- August: 7 sales
- October: 7 sales
- 2024:
- February: 9 sales
- May: 9 sales
- June: 6 sales
The top months for sales varied by year. March 2022 was particularly productive, while sales in 2023 were evenly distributed among May, August, and October. February and May emerged as top-performing months in 2024, highlighting evolving buyer activity patterns.
Average Cost Per Square Foot by Property Age
- Homes Built in the Last 10 Years (Waterfront):
- 2022: $331.44 per square foot
- 2023: $472.87 per square foot
- 2024: Data not available
- Homes Built in the Last 10 Years (Non-Waterfront):
- 2022: $241.08 per square foot
- 2023: $342.12 per square foot
- 2024: $283.82 per square foot
- Homes Older Than 10 Years (Waterfront):
- 2022: $333.13 per square foot
- 2023: $343.25 per square foot
- 2024: $333.29 per square foot
- Homes Older Than 10 Years (Non-Waterfront):
- 2022: $215.55 per square foot
- 2023: $261.10 per square foot
- 2024: $242.96 per square foot
Waterfront homes, regardless of age, retained their premium over non-waterfront homes. Newer properties showed stronger appreciation, particularly waterfront homes, while older properties experienced steadier growth.
Comparative Insights
The data highlights the premium associated with waterfront properties around Possum Kingdom Lake. In The Cliffs, this trend is even more pronounced, as buyers consistently prioritize lake access and views.
While the market is robust across all property types, the increased value in waterfront properties underscores their desirability.
Conclusion
Possum Kingdom real estate, including the sought-after The Cliffs community, offers diverse opportunities for buyers and investors. Waterfront properties remain a prized asset, demonstrating higher values across all metrics. As the area continues to develop, these trends highlight the enduring appeal of lakefront living at Possum Kingdom Lake.
Whether you are considering buying unimproved land, a cozy condo, or a luxury single-family home, Possum Kingdom Lake has options for every preference and budget. With its natural beauty and thriving real estate market, it’s no wonder why Possum Kingdom remains a top choice for property investment.
** The data provided in this 2024 The Cliffs Year in Review has gathered from North Texas Real Estate Information Systems, Inc. (NTREIS) MLS System as of 1/22/2025. The article was written by Matthew Renfro with the data being consolidated using artificial intelligence.
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