Do you want to sell you Denton house fast? Consider this. Denton home sales closed out a strong summer selling season with record home prices in August. Average home prices pushed above $284,000 for the month, while the price of a single-family home in Denton rose to more than $290,000. Home sales volume in Denton was stable compared to last year, while sales in Denton County rose by double digits for a second consecutive month.
New home sales continued to outpace the resale market in August with new construction sales helping to lift the overall sales numbers. Average prices for new construction in DFW fell 3 percent in August, while prices for resale homes were about 2 percent higher. That helps explains the continued sluggishness of the resale housing market in general. Prices are simply too high.
New construction sales were up by 48 percent in the City of Denton during August, while sales of existing resale homes declined by roughly 7 percent. MLS stats show that the average price of a new home sold in Denton actually fell by 5 percent compared to August of last year, while the price of a resale Denton home jumped almost 8 percent.
Denton County saw the same dynamic playing out this summer, where sales of new homes jumped by 25 percent. Sales of resale homes in Denton County rose a more modest 5 percent during the month. Average new home prices in Denton County fell roughly 2 percent compared to last year, and they have been trending lower since the July 2018 peak. Resale prices edged up just 1 percent, helping to sustain the summer sales rebound.
Looking at the headline metrics it was a fabulous summer. That doesn’t mean you should get your hopes up about a spectacular rebound in the housing market. The trend of a stagnating housing market is still intact, confirmed by the percentage sellers are receiving in terms of original list price, as well as the average days on market. Average days on market in Denton County were up by 30 percent compared to last year. The major drop in mortgage rates helped with the decline from the February spike to 53 days. This is a great tine to sell your Denton house.
Contact us and we can help you sell your Denton house fast. We have local buyers wit cash in hand.