Happy Labor Day! I hope everyone is getting outside and enjoying the last bit of summer. With school is back in session for North Texas, and the real estate market has slowed down slightly but is staying strong. The price per square foot stayed strong in August, and the inventory of homes for sale is going up. Here’s my Denton County August real estate analysis:
Sales Price
Sales prices lost their trend from the last few months. All markets had stayed on a similar trend, but this month it went in different directions. The MLS took a $100 increase from July to August. The new median sales price is up to $250,000. Denton County took a decline from the previous month. July the median sales price was $302,750, and well above Aubrey and the MLS. Even though it is still far above the MLS’ median, the sales price dropped to $295,000 in August. Aubrey took a steeper decline from July to August in the median sales price. The median dropped by almost $10,000 in August. Aubrey’s median sales price for August was $255,880. Despite the declines in the local areas, these median prices are almost $30,000 higher than they were in August 2016.
Price Per Square Foot
Despite changing sales prices, the median price per square foot are pretty steady. The MLS is holding on strong at $119 per square foot. That’s two months that are the same price, and the previous two months before that, the median held strong at $120. Pretty steady for changing sales prices. Denton County also stayed strong at $132 per square foot, the same as July. Aubrey is the only one that changed, and it took a pretty significant loss from previous months. Aubrey was at $130 per square foot in July, and it dropped to $125 in August.
Days on the Market
The median days on the market are steadily rising, but rising from incredibly low days on the market. This puts sellers still in a great position to get their homes sold pretty quickly. The MLS’ median days on the market rose just 2 days, bringing it up to 16 days. Denton County is just slightly below at just 14 days. Aubrey took a pretty decent increase from July to August. July the median was just 9 days, and it rose to 15 in August. Still below the MLS median, but a significant increase for the Aubrey market.
Inventory of Homes and New Listings
The number of homes available for sale went up from previous months, which is great news for buyers. The MLS had 28,728 homes for sale in August. Denton County had 3,487, which was up by a little over 100 homes. Aubrey had 94 homes for sale, up from 87.
Of the inventory of homes that were listed 13,462 were new to the MLS in August. Denton County had 1,702 new homes that were listed, and Aubrey had 53 new listings.
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.
