North Texas existing home sales up 4 percent in November

NORTH TEXAS – North Texas existing home sales rose 4 percent in November, the first single-digit year-over-year gain this year, according to the Real Estate Center at Texas A&M University.

The smaller gain followed a 10 percent increase in year-over-year sales in October. In November, 5,960 homes were sold in the 29-county North Texas region. The median price was $170,000, 10 percent higher than last year.

For the year to date, 82,234 homes were sold, an 18 percent increase from the first 11 months of 2012. The median price was $174,000, up 11 percent from a year ago.

On average, homes sold in November were on the market for 59 days, which is a 20 percent drop from November of 2012. The number of active listings was also down 13 percent, to 21,164 listings.

In Tarrant County, the strongest sales last month were in central west Arlington, where the median price also rose 74 percent from a year ago, and in the south Fort Worth/Crowley area. The median sales price rose 77 percent in southeast Fort Worth, to $50,000, despite sales being down 25 percent last month.