Dallas sees more real estate cooling

Single-family home sales and prices in the Dallas/Fort Worth metro area continued to cool in October, according to preliminary statistics provided by North Texas Real Estate Information Systems.

Realtors recorded 6,739 single-family home sales in October, up from 6,622 in September, but down 4 percent from approximately 7,020 sales a year ago. October's decline marked the fifth straight month that sales have fallen behind their 2005 levels.

The area's median home price in October at $143,000 was 3 percent lower than a year ago when it registered $147,422.

Some 13,258 new single-family listings came on the market in October, up 9 percent from the same month last year, bringing the total number of active listings to 45,715, which is 11 percent above last October's level.

The condo/townhome market fared better in October, as sales kept up with year-ago levels and the median price gained 3 percent. Sales were steady at 412 units, while the median price rose to $119,700.

Homes reportedly sold more quickly in October than they did a year ago, as single-family listings spent an average 69 days on the market and condos/townhomes sold in 75 days, which is 3 percent and 10 percent less time, respectively, than 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.

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