A few more than 1,600 pre-owned, single family homes were listed for sale at the end of January in the northwest Dallas suburbs. While this is about 13.6 percent lower than 1,850 homes or so available at the same point a year ago, it also is only the second time in the past 13 months that monthly year-to-year decreases in homes for sale have dropped below 14 percent. It also represented an 8.6 percent increase over the nearly 1,500 homes available for sale at the end of December.

Additional good news for potential homebuyers is that January's 5.9 months supply of pre-owned homes for sale in Argyle, Bartonville, Coppell, Copper Canyon, Colleyville, Double Oak, Flower Mound, southwest Frisco, Grapevine, Highland Village, Keller, west Plano, Southlake, Trophy Club and Westlake was up sharply from December's revised 3.5 months supply. On the other hand, and one piece of good news for sellers, it also was down 10 percent from the 6.6 months supply of homes for sale in this area a year ago.

Sale volume too showed the area's home market to be cooling slightly. According to data compiled by North Texas Real Estate Information Systems Inc., 262 pre-owned, single family northwest Dallas suburban home sales were closed in January, 5.8 percent fewer than the 278 sales posted during the same month a year ago.

As might be expected, with inventory up slightly and sale volume down slightly, the rate at which northwest Dallas suburban home prices are appreciating also slowed a bit. Compared to a year ago, home prices overall were up 3.9 percent, dropping to under a 4 percent annual increase for the first time in four months.

Home price appreciation again extended across all price ranges. The square foot price of a typical $250,000 northwest Dallas suburban home sold during the three months ending in January was $90.77, a 3.3 percent increase over the price at which a similar home sold a year ago. The typical $350,000 home sold for $103.84 per square foot, up 2.5 percent over a year ago, and the square foot price of the typical $450,000 home was $119.75 per square foot, a 3.5 percent increase over a year ago. The average price of homes for selling for less than $200,000 were up 5.5 percent and homes selling for more than $500,000 showed a 3.9 percent average price increase.

Average days on market of homes sold during January were 63 days, about the same as has been required since November. This is 22.4 percent lower than a year ago, when 82 days on average were required to sell a northwest Dallas suburban pre-owned, single family home.

The median price of pre-owned homes in the northwest Dallas suburbs continues to rise, settling at $285,650 in January. This is a 16.6 percent increase over the $245,000 median price at which homes sold during the same month a year ago. The average sale price of these homes was $350,900, a 13.3 percent jump over their $309,800 average price a year ago.

Market Highs And Lows

The northwest Dallas suburbs home resale market segment with the largest annual increase in its three month average per square foot price was in the Argyle, Bartonville, Copper Canyon and Double Oak area. The square foot price of the average $450,000 home there was up 14.7 percent, to $120.47. Keller homes selling for $400,000 to $499,999, on average, sold for $113.77 per square foot, up 10.5 percent above their previous year price.

The Argyle, Bartonville, Copper Canyon and Double Oak area also has the price segment with the largest price decrease. Homes there, selling for an average of $350,000, came in at $106.90 per square foot, down 13.9 percent from the previous year. The average price per square foot of Colleyville homes that sold for between $200,000 and $299,999 averaged $94.98, a 7.6 percent decrease.

Flower Mound and Grapevine, for the third straight month, had the lowest inventory of pre-owned homes among the northwest Dallas suburbs. Flower Mound had a 4.2 months supply of homes available for sale. Grapevine had a 4.5 months supply of homes listed for sale.

Colleyville and the Argyle, Bartonville, Copper Canyon and Double Oak area again had the highest inventory levels. Colleyville had a 13.3 months supply of homes available for sale and the Argyle, Bartonville, Copper Canyon and Double Oak area showed a 13.2 months supply of homes available for sale.