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.

Condominiums and townhomes spent an average of 68 days on the market last month, down considerably from 83 days posted one year earlier, while single-family homes sold after an average 66 days, compared with 68 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.

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Thank you for subscribing to Morning Headlines.
Back to top
Time is running out to secure your Connect Now tickets at the lowest price. Don't miss out on a chance to grow yourself and your business.Learn More×
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription