The Dallas/Fort Worth metro area saw single-family home sales and prices decline further in November, according to preliminary statistics provided by North Texas Real Estate Information Systems.

Realtors recorded 6,073 single-family home sales last month, down 7 percent from approximately 6,530 sales a year ago. November's decline marked the sixth straight month that sales have fallen behind their 2005 levels.

Although the area's median home price inched up to $146,000 in November from October's $143,000, it was still 3 percent below the year-ago level of $150,515.

Fewer property owners decided to list their homes for sale last month, as only 10,384 new listings came on the market, down from 13,258 new listings in October. Although the total number of active single-family listings dipped to 44,125 in November, the supply was still 9 percent higher than a year ago.

Despite the slowdown in the single-family sector, sales and prices of condos and townhomes were actually higher last month than they were a year ago, according to statistics. Some 416 units sold in November, up 6 percent from a year ago, while the median condo price gained 9 percent during the period to $125,000.

All home types sold at nearly the same pace as they did a year ago, with single-family homes (sold in November) spending an average of 71 days on the market and condo/townhomes selling in 75 days.

NTREIS serves more than 23,000 MLS subscribers of 16 shareholder Realtor associations in the Dallas/Fort Worth area, covering 4,000 real estate offices.

Source:
http://www.inman.com/inmannews.aspx?ID=60277