April showers bring May flowers, and April’s great real estate month hopefully will bring even better real estate this month! The market has continued to do fantastic for sellers, leaving homes on the market for very limited time. However, this has made it a struggle for buyers in this highly competitive market. Let’s find out how sales and price per square foot were with my April real estate analysis:
Average Sale Price
Last month’s real estate analysis, brought both declining and increasing in average sale prices. It remains steady from last months trend with the the MLS (Multiple Listing Service) average sale price rising thoughout the month of April from $267,278 to $273,647. That’s a 5% increase from March to April, just like the previous month! However, even though the overall MLS is on trend to steadily rise by 5% each month, Denton county and Aubrey’s average sale price continued to decrease slightly. Aubrey’s average sale price decreased from $209,232 to $191,910. Denton County also decreased from $314,147 to $308,215.
Average Price Per Square Foot
Despite the decrease in sale prices in the county and city of Aubrey the price per square foot increased! This is encouraging for prospective sellers in the North Texas area, the price per square foot continues to rise from February and March. Aubrey’s average price per square foot takes the prize for April; rising 14 percent from March, increasing from $107 to $112. Denton County increased from $119 to $121 per square foot and the MLS increased from $113 to $115 per square foot.
Average Days on the Market
The trends continue with average days on the market as well. The MLS, Aubrey, and Denton County areas saw a continued decrease in the number of days on the market. The limited time on the market is shocking at low low it is becoming! Aubrey is down to just 26 days on the market. Denton County dropped down to just 33 days on average from 43 days in March. And the MLS is down to just 40 days on average for the month of April.
Homes for Sale
Some fast facts about what the inventory is per area. The MLS had 24,403 homes for sale in April, with 12,906 being new listings. Aubrey had 70 homes for sale with over half of them being new listings. Denton County has 2,661 homes for sale and 1,657 were new listings.
Homes Sold in April
Of the old and new listings, we have the actual number of homes that were closed (sold) in April. Denton County had 1,022 sold, Aubrey had 21, and the MLS had 7,984.
The market is a crazy one for buyers and sellers. Sellers are reaping the benefits of not having to wait long for homes to sell in most cases, but can make it difficult for buyers to easily purchase a home. If you need assistance in the North Texas area, contact Sherry today!
