NORTH TEXAS HOME SALES DECLINE CONTINUES

NORTH TEXAS HOME SALES DECLINE CONTINUES

FORT WORTH (Fort Worth Star-Telegram) – Prices on existing North Texas single-family homes were up in February, but sales were down for the ninth consecutive month. 

Just over 3,500 homes were sold in the 29-county North Texas region last month, a 17 percent drop from February 2010, the Fort Worth Star-Telegram reported yesterday.

Sales declines of more than 50 percent were seen in some areas of Arlington and Fort Worth. In Tarrant County, the submarkets of Kennedale, central west Fort Worth near Texas Christian University, and Haltom City saw gains.

A total of 6,676 homes have been sold in North Texas so far this year. That's 13 percent fewer than the same period a year ago.

The median sales price was up 4 percent to $145,000 last month. Nearly 25 percent of the homes sold cost between $200,000 and $400,000. About 1 percent cost $1 million or more.

NOTE:  What I find interesting is that both Dallas and Fort Worth sales are down.  Click the above link for details.  For sellers who need to sell quickly listing your house may not be the best answer, especially if you are paying two payments.  Longer sales times equates to increased holding costs i.e. more mortgage payments, higher risk of something happening to the house, increased maintenance, taxes and insurance, etc.