Kim Raine North Dallas Realtor Quote 2/11/2010

The more sand that has escaped from the hourglass of our life, the clearer we should see through it. Jean Paul

Dallas-Fort Worth home prices edge higher

Dallas-Fort Worth home prices edge higher
07:13 AM CST on Wednesday, February 10, 2010

By STEVE BROWN / The Dallas Morning News
stevebrown@dallasnews.com
North Texas home prices inched higher in January.

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Median pre-owned home prices were up 1 percent last month from a year earlier.

But the number of pre-owned homes sold in the area fell by 6 percent, the second consecutive decline in the monthly sales figures.

Real estate agents sold 3,360 homes through the Multiple Listing Service, according to statistics from the Real Estate Center at Texas A&M University and the North Texas Real Estate Information Systems Inc. And 172 condominium sales were recorded – 2 percent more than in January 2009.

About 33,500 homes were listed for sale in North Texas last month.

That's 10 percent fewer than a year ago.

There's just less than a six-month supply of homes listed for sale in North Texas. Six months is considered a balanced market.

D-FW AREA HOME RESALES UPDATE
Comparisons of January pre-owned home sales and prices in North Texas with year-earlier statistics:
Single-family home resales 3,330 -6 percent
Median price $130,000 1 percent
Average days on market 84 -2 percent
Pending sales 4,369 No change
Listed for sale 33,569 -10 percent
Condo-townhome resales 172 2 percent
Median price $127,520 6 percent
Average days on market 96 -16 percent
Pending sales 235 3 percent
Listed for sale 3,556 -6 percent