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.