The start of 2017 has been good to real estate in North Texas. Despite some declines from the end of 2016, the year is starting off stronger than it did last year. Here’s my January real estate analysis:
Sales Price
The median sales prices in January declined slightly, which is to be expected this time of year. Real estate typically slows down in the early months of the year and picks back up towards the end of the school year. However, all of these prices are up from the beginning of last year, and by a pretty big margin.
The MLS’ median sales price declined by $5,000 in January, bringing it to $225,000. Despite the decline from December to January the median sales price is up $30,000 from last January. Denton County’s median sales price in January was $272,115; about $9,000 less than December. But Denton County is also up by almost $30,000 since January of 2016. And Aubrey’s median sales price in January was $205,995. Aubrey had the biggest decline from December to January but is up by over $18,000 from January of 2016. Overall, despite a slower month than December, this is still a very solid start to 2017.
Price Per Square Foot
Overall, January took a sligh hit in price per square foot. Not a huge decline, but just a little one. The MLS declined by $1, brining it to $110 as it’s median price per square foot. Denton County went from $124 to $122 in January. Aubrey was the only one that increased in January; Aubrey’s median price per square foot rose by $2, which brought it to $113.
The MLS and Denton County’s median price per square foot both rose by a little over $10 each from 2016 to 2017. In January of 2017 the median was only $99 for the MLS and Denton County was $112. Aubrey is the only area that has stayed very close. In January 2016 Aubrey’s median price was $112, only a dollar off from this year.
Days on the Market
The median days on the market rose a little bit from December to January but declined for Aubrey. Aubrey dropped by 2 days, bringing the median down to just 28 days. Denton County rose by 3 days; up to 24 days. The MLS rose by 2 days, bringing it to Denton County’s median of just 24.
Despite the rise in days on the market for MLS, this is a pretty significant decline in days from last year. In January 2016, the median was 28 days. Denton County has stayed steady at 24, but Aubrey had the biggest change from 2016 to 2017. Aubrey went from the median being 51 days in January 2016 to just 28 days!
Homes for Sale
The total number of homes for sale on the MLS in January was 21,087 with 10,286 being new listings. Denton County had 2,238 homes for sale and 1,283 as new listings. And Aubrey had 72 homes for sale, and 42 of those were new listings for January.
January shows a promising start to 2017 in real estate. If you’re looking to buy or sell a home in North Texas, let Sherry Adams help you by contacting her here.
