Welcome to this month’s real estate market report for the area of North Texas, including the counties of Collin, Dallas, Denton, Grayson, Kaufman, Parker, Rockwall, and Tarrant. For the month of September, real estate activity increased in most counties. Inventory of housing climbed higher in most areas and homes are on the market for an average of 15 days before being sold. While there is competition for homes available it has not pushed sale prices much higher, sellers are getting on average 98% of their original asking price for their home at closing. Get up to date on the North Texas real estate market with this helpful report.
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North Texas Housing Stats
The market for single-family homes in North Texas was very active in September, homes were on the market for an average of 15 days before being sold.
While the market for homes in North Texas is competitive, sellers are getting on average 97.3% of their asking price for their home at closing.
Inventory of homes available has increased during September, there are approximately 2.2 months of single-family housing available to buyers in North Texas.
Collin County Stats
There was an increase in new listings during September, rising from 321 to 344 from September 12 to 19. Currently, there is 1.9. months of supply available.
There was a decrease in pending listings during this time, dropping from 304 to 293. There was also a drop in closings, falling from 267 to 263.
Single-family homes in Collin County are on the market for a median of 15 days before being sold, and sellers are getting 97.7% of their list price at closing.
Dallas County Stats
In Dallas County, from September 12 to 19, there was an increase in new listings, from 513 to 547. There was a drop in pending activity during this time, falling from 503 to 457, and there was an increase in closings of single-family homes, from 385 to 433.
Sellers of single-family homes in Dallas County were getting 98.6% of their asking price at closing, homes were on the market for 12 days before being sold, and there are just 1.6 months of supply available.
Denton County Stats
In Denton County during the month of September from September 12 to September 19. There was a drop in new listing activity, falling from 420 to 353, there was an increase in pending activity rising from 285 to 293, and there was an increase in closed sales rising from 255 to 294.
From September 12 to September 19 sellers of single-family homes in Denton County were getting 98.3% of their list price at closing, homes were on the market for 13 days before being sold, and there are two months of inventory available to buyers at the end of September.
Grayson County Stats
In Grayson County, from September 12 to September 19 there was an increase in new listing activity, rising from 61 to 65, there was a decrease in pending activity, falling from 66 to 52, and there was an increase in closed sale activity rising from 45 to 67.
At the end of September sellers of single-family homes in Grayson County were getting 95.5% of their list price at closing. Single-family homes were on the market for 18 days before being sold during September, and there is a total of 2.6 months of inventory available to buyers.
Kaufman County Stats
In Kaufman County from the week of September 12 to September 19 there was an increase of new listings rising from 83 to 93, there is an increase in pending sale activity increasing from 71 to 87, and there was an increase in posed sale activity rising from 56 to 67.
At the end of September and there are approximately 2.6 months of inventory available to buyers, homes are on the market for an average of 17 days, and sellers are receiving 96.7% of their list price at closing.
Parker County Stats
In Parker County from the week of September 12 to September 19 there was an increase in the number of listings of single-family homes, rising from 97 to 104. During this time there was a decrease in pending activity, falling from 69 to 53, and the number of closings was the same from week to week at 53.
At the end of September in Parker County, there are 2.9 months of inventory available to buyers, homes are on the market for 18 days before being sold, and sellers are receiving 96.2% of their list price at closing.
Rockwall County Stats
In Rockwall County, from the weeks of September 12 to September 19 there is an increase in the number of new listings of single-family homes, rising from 44 to 67. During this time there is a decrease of pending activity falling from 55 to 45, and the number of homes closed for a week to week 42to 37.
At the end of September in Rockwall County, there is approximately 2.2 months of supply available to buyers, homes are on the market for 15 days before being sold, and sellers are receiving 97.4% of their lowest price at closing.
Tarrant County Stats
In Tarrant County, from September 12 to September 19 there is an increase in new listings of single-family homes rising from 532 to 631. There was an increase in pending activity of single-family homes during this time rising from 495 to 545, and there is an increase in closing activity rising from 415 to 517.
At the end of September in Tarrant county, there are approximately 1.7 months of single-family home inventory available, homes are on the market for 11 days before being sold, and sellers are receiving 98.5% of their asking price at closing.
What Does This Mean For Buyers?
If you are a buyer actively searching for a home in North Texas you should have financing in place and be prepared to act as soon as a property is found. Homes are on the market for an overall average of less than 15 days. While in most markets buyers are, on average, paying less than full asking, in some circumstances buyers should be prepared to offer more than list price.
What Does This Mean For Sellers?
The market for single-family homes in North Texas favors sellers, homes are selling quickly in most markets. While there is a continuing demand for homes in North Texas, sellers should be patient as some properties may stay on the market for longer than average.
While these trends should continue over the short term, there may be a slowdown in real estate activity after the first of the year.
If you are thinking of buying or selling a home in beautiful North Texas, give us a call. We create lifelong relationships with clients to not only help them buy or sell their home but make sure that it is an experience to remember forever!
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