Industry News

Dallas sees more real estate cooling

Surge of new listings impacts sales, prices

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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 s...