The number of previously owned northwest Dallas suburban single family homes sold during November fell to 418 homes, a 7.9 percent decrease from the 454 homes sold during November last year. However, after sale volume decreases during eight of the past nine months, and two straight months of sale volume being down by more than 17 percent, this decreased rate of contraction may be a signal that this area's housing market is beginning to move to somewhat firmer footing.

Supporting this notion, northwest Dallas suburban pre-owned home prices again were up. Homes sold during November were priced on average 2.6 percent higher than homes sold a year ago. This rate of home price appreciation compares favorably to the 2.1 percent price increase for homes sold during September, and is the second highest rate of price appreciation seen during the past four months.

Though higher overall, for the first time in twenty-three months home prices did not appreciate across all price ranges. The square foot price of a typical $250,000 northwest Dallas suburban home sold during the three months ending in November increased by 4.9 percent, to $94.13, compared to a year ago, but the square foot price of a typical $350,000 home sold dropped slightly, by .1 percent, to $104.66. The square foot price of the typical $450,000 home also was up, by 2.1 percent, to $123.10. The average square foot price of homes selling for less than $200,000 rose as well, up 2.6 percent over a year ago, as did the square foot price of homes selling for more than $500,000, up 3.1 percent.

The $281,250 median price of pre-owned homes sold during November in the northwest Dallas suburbs gained 2.2 percent on the $274,250 median price posted last November, according to data compiled by North Texas Real Estate Information Systems Inc. It also was up 16.5 percent over the $241,500 median price for which homes in this area sold during November two years ago.

About 1,970 pre-owned, single family homes were listed for sale at the end of November in the northwest Dallas suburbs. This level of inventory represents a 15.2 percent increase over the approximately 1,710 homes listed at the same time a year ago, but a 5.1 percent drop from the 2,075 homes available for sale at the end of October. This level of home inventory, combined with monthly sales, resulted in a 4.8 months supply of such homes being available during November, a 5.9 percent drop from October's 5.1 months supply.

The average length of time homes selling during November remained on the market was 56 days, essentially the same as was required to sell a home in October. This is about 10 percent fewer days than during November a year ago, when an average 62 days were needed to sell northwest Dallas suburban pre-owned, single family homes.

Market Highs And Lows

The northwest Dallas suburbs with the largest annual increase in their three month average price ending in November were Highland Village and Flower Mound. The average price increase in Highland Village was 6.6 percent. In Flower Mound, it was 5.7 percent.

Southwest Frisco had the greatest average same month, year-to-year price decrease. Homes there sold for 1.9 percent less than during November a year ago. Also again in second worst position was Colleyville, where homes, on average, sold for 1.6 percent less than during November a year ago.

Flower Mound had the lowest inventory of pre-owned homes among the northwest Dallas suburbs, coming in with 2.8 months supply of homes available for sale. Trophy Club was in second place, with a 3.0 months supply.

The Argyle, Bartonville, Copper Canyon and Double Oak area again had the highest inventory with a 10.3 months supply of homes listed for sale. Southwest Frisco was next highest with 8.0 months supply of homes listed for sale.