Analyzing the Real Estate Market in The Harbor and Possum Kingdom Lake
The Harbor and Possum Kingdom Lake continue to be prime locations for real estate activity, offering a mix of single-family homes, condos, townhomes, and unimproved land. Below is a detailed analysis of the 2024 The Harbor Year in Review Market Report providing an in-depth overview of the latest trends and statistics.
Average Cost per Square Foot (Year-by-Year)
- 2022:
- Single Family Homes:
- Waterfront: N/A
- Non-Waterfront: $324.90
- Condos:
- Waterfront: $265.09
- Non-Waterfront: N/A
- Townhomes:
- Waterfront: N/A
- Non-Waterfront: $234.54
- Single Family Homes:
- 2023:
- Single Family Homes:
- Waterfront: N/A
- Non-Waterfront: $340.16
- Condos:
- Waterfront: $307.40
- Non-Waterfront: $220.50
- Townhomes:
- Waterfront: N/A
- Non-Waterfront: $244.54
- Single Family Homes:
- 2024:
- Single Family Homes:
- Waterfront: N/A
- Non-Waterfront: $282.70
- Condos:
- Waterfront: $256.86
- Non-Waterfront: $212.55
- Townhomes:
- Waterfront: N/A
- Non-Waterfront: $216.49
- Single Family Homes:
Analysis: Waterfront single-family homes consistently command the highest price per square foot across all property types. Condos and townhomes generally have lower price points, with non-waterfront townhomes showing consistent affordability. Missing data for waterfront townhomes may indicate limited inventory.
Number of Sales by Property Type (Year-by-Year)
2022:
- Single Family: 6 sales
- Condo: 4 sales (2 waterfront)
- Townhouse: 3 sales (0 waterfront)
2023:
- Single Family: 12 sales
- Condo: 13 sales (4 waterfront)
- Townhouse: 3 sales (0 waterfront)
- Unimproved Land: 2 sales (0 waterfront)
2024:
- Single Family: 7 sales (2 waterfront)
- Condo: 8 sales (3 waterfront)
- Townhouse: 1 sales (0 waterfront)
- Unimproved Land: 3 sales (1 waterfront)
Analysis: Single-family homes lead sales across all years, with condos being the second most popular. There is a slight decrease in overall sales volume in 2024, which could indicate a market adjustment or seasonal factors.
Average Cost per Square Foot of Homes (by Age and Waterfront Status)
- 2022:
- Single Family Homes Built in Last 10 Years:
- Waterfront: N/A
- Non-Waterfront: $264.41
- Single Family Homes Older than 10 Years:
- Waterfront: N/A
- Non-Waterfront: $314.95
- Condos Built in Last 10 Years:
- Waterfront: $265.09
- Non-Waterfront: N/A
- Townhomes Older than 10 Years:
- Waterfront: N/A
- Non-Waterfront: $234.54
- Single Family Homes Built in Last 10 Years:
- 2023:
- Single Family Homes Built in Last 10 Years:
- Waterfront: N/A
- Non-Waterfront: $340.16
- Single Family Homes Older than 10 Years:
- Waterfront: N/A
- Non-Waterfront: $303.90
- Condos Built in Last 10 Years:
- Waterfront: $307.40
- Non-Waterfront: $220.50
- Townhomes Older than 10 Years:
- Waterfront: N/A
- Non-Waterfront: $244.54
- Single Family Homes Built in Last 10 Years:
- 2024:
- Single Family Homes Built in Last 10 Years:
- Waterfront: N/A
- Non-Waterfront: $260.46
- Single Family Homes Older than 10 Years:
- Waterfront: N/A
- Non-Waterfront: $264.33
- Condos Built in Last 10 Years:
- Waterfront: $256.86
- Non-Waterfront: $212.55
- Townhomes Older than 10 Years:
- Waterfront: N/A
- Non-Waterfront: $216.49
- Single Family Homes Built in Last 10 Years:
Analysis: Newer single-family homes consistently command a higher price per square foot, particularly for waterfront properties. Condos and townhomes have lower overall price points but still reflect value based on proximity and modernity. Missing data for some categories highlights limited inventory in specific segments.
Conclusion
The Harbor and Possum Kingdom real estate markets continue to thrive, driven by the enduring appeal of waterfront properties. Key takeaways include:
- Waterfront properties command significantly higher prices, whether measured by square foot or acre.
- Single-family homes and condos dominate sales.
- Seasonal peaks align with warmer months, making spring and summer optimal for sales activity.
- Newer homes remain highly desirable, especially along Possum Kingdom Lake.
For buyers and investors, understanding these trends provides a strategic advantage in navigating the real estate market in The Harbor and Possum Kingdom Lake.
** The data provided in this 2024 The Harbor Year in Review Market Report 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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