Industry News

Dallas home sales decline

Condos outperform single-family sector in activity, prices

Home sales in the Dallas/Fort Worth metro area fell 7.5 percent in August from their year-earlier level, while prices maintained modest growth, according to preliminary statistics provided by North Texas Real Estate Information Systems. Realtors recorded 8,386 single-family home sales last month, down from the August 2005 level of 9,067. The median single-family home price gained 3 percent during the period, rising from $148,000 to $152,500. There were 15,245 new single-family listings placed on the market in August, up 10 percent from the year-ago level, bringing the total number of single-family inventory to 46,818 listings, which is 10 percent higher than a year ago. The condo/townhome market fared better last month, as sales of those units gained 6.7 percent year-over-year. Sales reached 545 in August, up from 511 in August of last year. The median price paid for a condominium/townhome was $119,950 in August, an increase of 9 percent from the year-ago price of $110,000. Condominiu...