Summer is coming close and you can tell by the heat outside and the real estate market. The market is picking up quickly with school coming to a close. Not only are prices increasing, but days on the market are decreasing quickly. Here is my recap of Denton County April real estate:
Median Sales Price
The median sales price in North Texas is steadily increasing throughout 2017. Even in the MLS, the prices continue to increase. Overall, in Multiple Listing Service (MLS), the median sales price in April rose to $245,000. That’s up by $5,000 since March! Compared to 2016, the price has increased by almost $30,000.
Denton County decreased it’s median price by just $4,000, which has been rare in recent months. The median sales price in Denton County was $292,000 in April, from $296,000 in March. Again since 2016 in April, the median price has increased by almost $30,000 as well.
Aubrey had a pretty significant increase in it’s median sales price in April. In March, the median sales price was $234,990, pretty close to the MLS’ median. However, in April the median price increased to $260,000! And compared to 2016’s median, that’s an increase of $60,000 in just 1 year!
Price Per Square Foot
The median price per square foot, didn’t have too much variation in price from March to April. The MLS’ median increased from $116 to $118. Denton County had the largest increase, by $4 a square foot. It’s median rose from $127 to $131. And Aubrey had a slight decrease in April, down from $115 to $113, still very close to the MLS’ median.
Days on the Market
I can’t get over the days on the market in North Texas. Homes are selling so fast! The MLS’ median days on the market is down to just 12 days! Denton County is even lower than that, to just 10 days. And Aubrey has the highest days on the market right now at 19 days, up slightly from March’s 14 days. Compared to 2016’s median days on the market, it’s pretty comparable, and we were saying the same thing then. Homes are going so fast!
Homes for Sale
As it gets closer to summer, the inventory of homes for sale typically increase steadily. 2017 is no exception to this rule of thumb. The inventory of homes for sale and new listings increased dramatically from March to April. The MLS increased its inventory by 2,000 homes, bringing the total number of available homes to 24,717. And 12,829 of those being new listings for April.
Denton County is up to 2,878 homes for sale in April. In March there were 400 homes less, at just 2,465 homes for sale. Denton got 1,684 new home listings in April. Aubrey raised it’s available homes for sale from 58 to 69 homes in April, and 55 of those being new listings.
Real estate continues to soar in North Texas, and April was no exception. If you want to know more about the real estate market in North Texas, I would love to hear from you. Let me know if you are looking to buy or sell in North Texas or if you want to know more about the North Texas market.
