Dallas home sales tumble 15%

Home sales in the Dallas/Fort Worth metro area fell 15 percent in September from their year-earlier level, which sent single-family home prices lower, according to preliminary statistics provided by North Texas Real Estate Information Systems.

Realtors recorded 6,622 single-family home sales last month, down from the September 2005 level of 7,790.

The median single-family home price lost 3 percent during the period, falling from $147,577 to $143,150.

There were 13,219 new single-family listings placed on the market in September, up 8 percent from the year-ago level, bringing the total number of single-family inventory to 46,966 listings, which is 13 percent higher than a year ago.

The condo/townhome market didn't fare much better last month, as sales of those units declined 7 percent year-over-year. Sales reached 431 in September, down from 463 in September of last year.

The median price paid for a condominium/townhome was $115,250 in September, an increase of 2 percent from the year-ago price of $112,945.

Condominiums and townhomes spent an average of 78 days on the market last month, down from 85 days posted one year earlier, while single-family homes sold after an average 69 days, compared with 71 days last year.

NTREIS serves more than 23,000 MLS subscribers of 16 shareholder Realtor associations in the Dallas/Fort Worth area, covering 4,000 real estate offices.

All rights reserved. This content may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this content without permission is a violation of federal copyright law.