Industry News

Dallas home sales tumble 15%

Prices up for condos, down for single-family homes

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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-...