The headline for this month's newsletter has to be that the small, but broad-based increases in the three month rolling average of per square foot home prices reported in September continued unabated through October. The typical $250,000 northwest Dallas suburban pre-owned, single family home sold during these past three months was priced at $87.79 per square foot, an increase of 1.2 percent over the same three month period a year ago. The per square foot price of the typical $350,000 home was $100.10 per square foot, up 1.3 percent over a year ago, and the typical $450,000 home was up 1.5 percent, to $114.54 per square foot.

Since other market indicators also point to generally stronger market conditions, it now seems more likely than not that average per square foot home prices in Southlake, Colleyville, Flower Mound, Coppell, southwest Frisco, west Plano, Keller, Highland Village, Westlake, Grapevine, Trophy Club, Argyle, Double Oak, Bartonville and Copper Canyon will continue to increase to some extent for at least the next month or two.

Pre-owned, single family homes reported sold during October totaled 408 units. This is an increase of 2 percent over sales a year ago. After an upward revision of 4.5 percent in September sale numbers, sales volume reported for the past three months is essentially the same as a year ago. Sales for the past 12 months are up 12.3 percent over the previous 12 months.

The average number of days required to sell a northwest Dallas suburb home was up slightly, 77 days in October versus 74 days in September. This is basically unchanged from a year ago when pre-owned, single family homes were requiring an average of 75 days to sell. October marked the first month in a year when days on market was similar or less than during the same month the previous year.

The rate at which home inventory is being absorbed, now standing at 5.5 months supply, has improved by 16.7 percent from a year ago, when 6.6 months supply of homes were available for sale. Similarly, the approximately 2,200 homes available for sale at the end of October is 15.4 percent lower than the approximately 2,600 homes listed for sale a year ago.

Market Highs And Lows

Colleyville homes selling for $400,000 to $499,999 was again one of two northwest Dallas suburbs home resale market segments with the largest annual increase in average per square foot prices for the past three months. The other market segment with the greatest price increase was Keller homes selling for between $200,000 and $299,999. The square foot price of an average $450,000 home in Colleyville increased 13.8 percent to $118.09. The square foot price of an average $250,000 home in Keller was $89.99, up 6.3 percent.

The market segments with the largest per square foot price decreases were west Plano, where the price per square foot of homes selling for between $200,000 and $299,999 fell to $87.82, off 9 percent from a year ago, and Highland Village homes selling for between $300,000 to $399,999, where the average price per square foot was $90.01, down 7.5 percent from the previous year.

2003 - 2004 School Year Performance Information

In late September, the Texas Education Commission (TEA) released partial school performance information for the 2003 - 2004 school year. Substantial changes in both in the way performance information is now being communicated to the public and in the performance standards themselves caused me to make significant changes in how this information is reported on this web site.

Updated information for the Argyle ISD, Carrollton-Farmers Branch ISD, Denton ISD and Frisco ISD schools attended by students living in the northwest Dallas suburbs has now been published on my web pages. Similar information will be rolled out for other public schools serving the northwest Dallas suburbs over the next few weeks. As additional 2003 - 2004 performance information is made available by the TEA, it too will be published here.