Holiday season is in full swing and so is the real estate. As November wrapped up, the real estate sales did too, bringing in some really great sales in North Texas. There are promising statistics that show it is a great market for sellers and for buyers. The number of days on the market continue to decline, and the inventory is steadily increasing. Here is the rest of my November real estate analysis:
Sales Price
Denton County’s median sales price had the biggest jump from October to November. Denton County increased by almost $7,000 in November bringing the median sales price up to $277,000. Aubrey declined slightly in November from $227,900 to $225,000. And the entire MLS (Multiple Listing Service) increased by $5,000 last month bringing the median sales price up to $230,000. These prices are continuing on the upward trend that has been continuing throughout the entire year.
Price Per Square Foot
Overall, the median price per square foot increased in all markets over the course of November. Denton County increased just slightly by a dollar bringing the median up to $124 per square foot. The MLS increased just slightly more than Denton County, by $2. The median in Denton County rose to $112 per square foot. And Aubrey had the most dramatic price per square foot increase. In October the median was just $112 but November brought the median up to $119 per square foot.
Days on the Market
The great news is that homes are still selling quickly in all areas of Texas. The MLS stayed constant at a median of 20 days on the market in October and November. Denton County decreased the median number of days on the market down to just 18 days; October the median was 20 days. Aubrey had the sharpest decline in November. Aubrey’s median days for sale is down to just 15 days! That’s 10 days fewer than October, which is great news for anyone selling their home in Aubrey.
Homes for Sale
The number of homes for sale in Denton County and the MLS are declining slightly, but Aubrey increased throughout November. The MLS had a total of 23,657 homes for sale last month, and Denton County had 2,515. Aubrey increased from 74 homes for sale in October, to 81 homes for sale in November.
Each month there are continued improvements in the real estate market in North Texas. Sellers have an excellent market if they are wanting to sell their home quickly. And thankfully, home buyers have a bigger inventory of homes than earlier in the year. But overall, 2016 is shaping up to be an excellent real estate year in North Texas.
If you want to know more about anything real estate related, or want to buy or sell your home in the North Texas area let Sherry know today!
