Prices slightly lower in September compared to August
September housing prices were slightly lower than the record-levels set over the summer, sparking some debate over whether the market is finally cooling. But industry analysts caution that consumers must remember normal seasonal fluctuations before assuming the housing market is changing directions.
“September is typically a less frenetic market,” said Steve Habgood, president of MetroTex. “A lot of the demand over the summer is tied to consumers trying to get settled before the new school year starts. It’s no surprise that compared to August, the September sales figures were slightly lower.”
“If you look at housing prices year to date, however, September was still a very strong month in the SE Denton County market,” continued Habgood.
Highlights of the MetroTex report include:
- 451 homes were sold in SE Denton County in September, a 21% increase over last year.
- The average sales price in SE Denton County area was $292,323, a 13% decrease over last year.
- Average sales price is 98% of list price when listed with a REALTOR®
- Houses are selling in an average of 30 days, down from 136 a year ago.
Inventory continues to remain low in SE Denton County, with an estimated 2.1 months of existing housing stock on the market. Less than 3 months inventory is considered to be a strong sellers’ market.
MetroTex represents more than 16,000 members involved in all aspects of the real estate industry. MetroTex is the largest REALTOR® member association in North Texas representing the entire region. Established in 1917, MetroTex is an advocate for the real estate industry and private property rights. For more information, visit us online at DFWRealEstate.com.