North Texas home sales up, prices at record high in April

North Texas home prices hit another all-time high in April.

The median price of area single-family homes sold by real estate agents rose 12 percent from a year earlier to $246,100.

Median home prices were higher in all but a handful of Dallas-Fort Worth neighborhoods, according to the latest data from the Real Estate Center at Texas A&M University and the North Texas Real Estate Information Systems.

Real estate agents sold 9,180 houses — a record for April, and 5 percent more than in the same month of 2016.

So far this year, North Texas home sales are running 3 percent ahead of where they were in the first four months of 2016 with more than 30,000 properties changing hands.

At the end of April, there were 18,652 houses listed for sale with agents in the more than two dozen counties included in the monthly survey.

That's up 5 percent in inventory from a year ago — one of the first meaningful increases in houses on the market North Texas has seen in recent years.

"Still, the overall supply remains very tight," said Ted Wilson with Dallas-based Residential Strategies. "It is running at about a third the level we would consider to be normal for houses priced under $400,000."

On average, it took less than 40 days to sell a house in the area, slightly less time on the market than last April.

There's currently a 2.5-month supply of houses listed for sale with real estate agents, which is less than half what is considered a normal market.

 

So far in 2017, the biggest increase in preowned home sales has been properties priced at $1 million or more. Through April 473 million dollar homes have changed hands - 40 percent more than in the first four months of 2016.