January home sales decrease, median prices increase in Dallas area

Though Texas is generally known for inexpensive real estate properties, moving to the Dallas area right now may not be the most relatively cost-effective option. Despite decreased home sales in January, median prices increased for single-family homes in the Dallas-Fort Worth metroplex, according to the Texas A&M Real Estate Center.

Home sales reportedly declined year-over-year from 3,330 homes in January 2010, to 3,073 homes sold last month across the entire region, which incorporates 29 counties.

According to the report, the rate of decrease exceeded the December year-over-year 6 percent decline, but was better than the October and November rates, which were 30 and 25 percent respectively. The rates continue the 8 month trend of year-over year home sales declines.

As for prices, January showed a $140,010 median home price, which was a year-over-year increase of 8 percent, possibly caused by purchases of more expensive properties.

However, not all of the area's submarkets suffered losses in January. Six regions, including northeast and far southwest Arlington - the city that recently hosted Super Bowl XLV - experienced home sales increases during the month.  

More News