I can’t believe we’re already in May and in the swing of summertime. The kids are out of school, it’s finally warm, and now the real estate is picking up for the summertime also! The real estate market in May continued on trend from the last few months. Here’s my round up of the May real estate in Denton County:
Sales Price
The sales prices have been on the rise throughout 2017, and May was no exception. The median sales prices rose in almost all areas. The MLS median sales price rose from $246,000 in April to $255,000. That’s a $9,000 increase in just 30 days!
Denton County had a similar price increase in May. The median sales price in May was $304,450 and that’s up from $295,650 in April.
Aubrey was the exception to the price increase in May. Aubrey decreased by the similar amount that Denton County and the MLS increased by. The median sales price decreased to $250,041 in May, down from $359,500 in April.
Price Per Square Foot
The median price per square foot is staying pretty steady from April to May. The MLS increased its median price per square foot by $2. This brings the median up to $120 in May. Denton County’s median price per square foot didn’t change from April to May, and remained at an impressive $131 per square foot. Aubrey had the most significant change in May. Aubrey’s median price per square foot increased by $11! May’s median price per square foot in Aubrey was $124.
Days on the Market
The median days on the market continue to shock me. Almost every month I think they will stay about the same, and then it will decrease even more. The MLS decreased by a day, bringing the median to 12 days. Denton County increased by a day, bringing the median up to just 11 days. And Aubrey takes the cake in May; Aubrey decreased by 5 days! The median days on the market was just 6 days in May!
Homes for Sale
The inventory of homes available for sale increased from April to May. Aubrey had only a slight increase in May, up by 3 homes. This brings the total up to 69 homes for sale. Denton County had an increase of almost 500 homes, bringing the inventory up to 3,042 homes for sale. The MLS gained an additional 3,000 homes last month! The inventory of homes available for sale in May was 25,835.
Real estate continues to soar in North Texas, and May 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.
