August Home Sales Up 18% in North Texas


There s some great real estate news reported by Steve Brown in The Dallas Morning News today.

The DMN reporter shares that the 7,986 homes sales recorded in the North Texas MLS in August is the highest number of monthly sales since before the recession. August s 18% increase marks the 14th-straight month that North Texas home purchases were higher than the same month in the previous year.

With August s gains, pre-owned home sales in North Texas are up 16 percent for the first eight months of 2012 vs. the same period in 2011. Median sales prices in August were also up: 8% ahead of year ago levels.

Because of the strong sales, the number of pre-owned homes on the market in North Texas has fallen by almost 20% from last summer. On average, it now takes about nine weeks to sell a house in the area.

Brown reports that there is currently less than 4.5-month supply of homes listed for sale with agents. That s the lowest inventory in more than a decade.

Some North Texas areas saw huge increases in August sales, including the Park Cities (up 55% from last August), North Dallas (up 35%) and Trophy Club-West Lake (up 86%).

And, pending sales for September properties under contract but not yet closed are 11 percent higher than last year, indicating another strong housing month ahead.

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DallasNews.com subscribers may click here for the full article from Steve Brown.