Despite higher prices, homes sales in many North Texas neighborhoods continue to climb, from Parker to Prosper, McKinney to Mansfield, and Forney to Fort Worth.
Single-family home sales totaled 10,911 this August, up 5 percent from August 2018, according to the most recent data available from North Texas Real Estate Information System. The median home price in August was $269,900, which is up 4 percent year over year, according to NTREIS data from local real estate agents.
The Dallas Business Journal is kicking off a series called Hottest ’Hoods in North Texas. In it, we will look at data from a variety of sources to gauge the heat of the housing market by neighborhood based on an array of metrics such as median sales prices, the number of days homes sit on the market before selling, and, in this edition of Hottest ’Hoods, places with the most home sales.
To see if your ZIP code is among those where sales are sizzling, click here.
Year-to-date, 73,907 single-family homes have sold in North Texas, which is up just 1 percent from the first eight months of 2018, the NTREIS report shows.
The median home price for year-to-date sales through August was $269,900, which is up 4 percent year over year, according to NTREIS. The year-to-date median price is $265,000, which is 2 percent higher than the same period in 2018.
The North Texas market is healthy, but not overheated, with fewer sellers getting multiple offers than there were a year ago, said Deb Borrell, director of Relocation and Business Development for Allie Beth Allman & Associates. There are more home listings on the market than a year ago, too, allowing buyers to shop around with less pressure to make an offer before they are ready, she said.
Houses priced below $250,000 are difficult to find, but overall homes remain comparatively affordable, Borrell added.
“Even though our prices have gone up, it’s still modest in comparison to other places in the United States,” she said.
Home sales, as usual, vary widely from place to place within North Texas, she said.
At the county level, Rockwall and Denton counties had the biggest jump in home sales in North Texas, posting double-digit gains for August year over year, according to a MetroTex Association of Realtors report based on NTREIS data.
Rockwall home sales jumped almost 17 percent in August 2018, and Denton County sales rose 12.6 percent.
As for the biggest losers, home sales in August were down 4.2 percent from a year ago in Kaufman County and fell by 0.3 percent in Dallas County. Tarrant County sales increased a measly 0.5 percent.
The breakdown by ZIP code, however, shows hot zones even in the cold counties.
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