DFW home sales soared in November
DALLAS – North Texas saw double-digit percentage gains from a year ago for the second month in a row.
Over 8,600 preowned single-family homes were sold by area real estate agents last month, an increase from the 8,376 houses in October and the 7,569 purchases in November 2016.
So far this year, nearly 98,000 houses have traded hands in the metro. That puts North Texas on track to break last year’s record 101,500 preowned home sales, according to data from the Real Estate Center and North Texas Real Estate Information Systems.
Median home prices in the area in November rose 5 percent from a year ago to $242,100. Preowned home prices are 9 percent higher than they were in the first 11 months of 2016.
About 20,000 houses are listed for sale with real estate agents, an 8 percent increase from last year.
There’s currently about a 2.2-month supply of houses for sale in the real estate agents’ Multiple Listing Service, far short of the six-month inventory that is considered a normal market. It took an average of 48 days to sell a home in November.
Read the Real Estate Center’s third-quarter housing reports for Dallas-Plano-Irving and Fort Worth-Arlington for more information.
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