2024 Gaines Bend Year-in-Review Market Report
Gaines Bend at Possum Kingdom Lake continues to be one of the most sought-after areas in Possum Kingdom real estate. This report provides a comprehensive breakdown of market trends from 2022 to 2024, highlighting property values, sales activity, and key insights for prospective buyers and investors.
Number of Sales by Property Type
- Unimproved Land:
- 2022: 10 sales
- 2023: 8 sales
- 2024: 12 sales
- Single-family Homes:
- 2022: 12 sales
- 2023: 14 sales
- 2024: 15 sales
- Condos:
- 2023: 2 sales
- 2024: 2 sales
Single-family homes dominate sales in Gaines Bend, with a steady increase over the years. Unimproved land also saw a notable resurgence in 2024, signaling ongoing interest in development opportunities at Possum Kingdom Lake.
Average Cost Per Acre for Unimproved Land
- 2022: $48,450
- 2023: $67,850
- 2024: $89,000 ($450,000 for waterfront with no dock, $800,000 for waterfront with dock capabilities, and roughly $80,000 for water view interior)
Unimproved land values have consistently risen, showcasing the strong investment potential in Gaines Bend. Buyers looking to capitalize on Possum Kingdom real estate should consider the increasing scarcity and value of these properties.
Monthly Sales Breakdown
- High-Activity Months: April and June were the busiest months across all property types.
- Low-Activity Months: January and February saw minimal sales activity.
The spring and summer months continue to drive sales at Possum Kingdom Lake, likely due to favorable weather and increased buyer interest in recreational properties.
Cost Analysis by Property Age
- Single-family Homes Built in the Last 10 Years:
- 2022: $699.47 per square foot
- 2023: $762.26 per square foot
- 2024: $722.31 per square foot
- Single-family Homes Older Than 10 Years:
- 2022: $522.12 per square foot
- 2023: $520.78 per square foot
- 2024: $518.09 per square foot
- Condos:
- 2023: $316.41 per square foot
- 2024: $327.19 per square foot
The data reflects a high demand for newer single-family homes in Gaines Bend. Prices peaked in 2023, particularly for newer properties, before stabilizing in 2024. Condos, while a smaller market segment, saw consistent activity.
Conclusion
Gaines Bend continues to thrive as a premier destination within the Possum Kingdom real estate market. With rising property values, increasing sales, and robust demand for both newer and older homes, this area remains a hotspot for buyers and investors alike. As of 2025, the first home over $4,000,000 that went under contract was within Gaines Bend. Whether you’re looking for a scenic retreat or a sound investment, Gaines Bend at Possum Kingdom Lake offers unmatched opportunities. Stay ahead of the trends and discover the beauty and value of Possum Kingdom real estate today!
** The data provided in this 2024 Gaines Bend Year in Review has gathered from North Texas Real Estate Information Systems, Inc. (NTREIS) MLS System as of 1/20/2025. The article was written by Matthew Renfro with the data being consolidated using artificial intelligence.
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Written by Matthew Renfro, REALTOR. Photos taken by Matthew Renfro, FAA Licensed drone pilot.
