Happy fall y’all! I can’t believe summer is over and we’re almost to October. It was a great summer for real estate in North Texas and hopefully the rest of the year will continue on. Here’s the summer Denton County real estate analysis. To find the previous real estate analysis, you can find them here!
Sales Price
Aubrey and Denton held pretty close to the North Texas MLS’ median sales price throughout all the summer months. In August, the MLS median was $267,000 and Aubrey and Denton were respectively at $263,750 and $265,000. June and July were very similar in the same markets. The MLS was slightly higher in June and July, $275,000 and $270,000. Aubrey varied very similar for both months- $270,750 for June and $265,000 in July. Denton was down from Aubrey and the MLS, but not by much. Denton was at $263,900 in June and $255,000 in July.
The big difference was between the MLS median and Denton County’s median sales price. Denton County has stayed well above the MLS median for a while and this summer was no different. In August, Denton County’s median was $315,000; which is $48,000 higher than the MLS. In July, Denton County’s median was up to $322,700, which was almost a $53,000 difference from the median. And finally in June, Denton County was up to $323,623, just slightly higher than July.
Days on the Market
Great news for home sellers in the North Texas area, is that the median days on the market are still relatively low and stayed that way through the summer. The MLS started the summer at just 20 days on the market in June, went up to 22 days in July and last month was at 25. Still less than a month!
Denton County stayed steady in June and July at just 25 days, and in August was up to 29 days as the median. Just slightly higher than the MLS’ median.
Aubrey still is doing well for the median days on the market, but is higher than the MLS. In June, Aubrey was up to 38 days as the median, but dropped to 33 in July. August brought the median back up to 39 days.
Denton was right on or just a little lower than the Denton County median. In June the median was the same as Denton County, just 25 days. But July it dropped to the lowest out of all these markets, to just 17 days. August increased just slightly, but still held the lowest number of days on the market at just 23 days.
Price Per Square Foot
The MLS’ median price per square foot was the same in June and July at $131, and decreased a dollar in August. Pretty steady price per square foot! Denton County was also pretty steady only varying a couple of dollars through the summer. In June the median was $140, July at $141, and August $139.
Denton and Aubrey had more variation between the months. Denton started out the summer at $134, rose to $135 in July, but dropped to $130 in August. Still on par with the MLS median. Aubrey had the most variation. June’s median was at $128, July rose significantly to $135. And August dropped to $126 a square foot.
Inventory
As the summer continued, the number of homes that were available on the market declined. The MLS started out June with 33,400 homes for sale, dropped to 33,325 in July, and finished off August with 32,684. Denton County started with 4,274 homes, dropped by about 50 homes in July to 4,221, and finished off the summer with 4,067 homes for sale.
Aubrey had 260 homes for sale in June, dropped to 232 in July and actually increased slightly in August to 247 homes for sale. Denton started the summer off with 406 homes for sale, dropped to 395 in July, and finished off the summer with 376 homes available.
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.
