Not to be outdone by yesterday's report on Dallas County, Denton saw even more impressive results in the housing market for February 2023.
While the median sales price decreased 2.8% to $427,766 year-over-year from February 2022, listings surged 196.1% vs 2022.
The most impressive statistic is that sales increased 15.1% YOY, representing an astounding figure. Though mortgage rates have essentially doubled YOY, sales have continued to increase.
It's fair to note that there is significantly more inventory than this time last year and seeing the median sales price decline also helped in boosting sales.
But again, with affordability still being lower than last year, it highlights the constant demand we are seeing in Denton County for housing, when sales increase.
Lastly, days on market increasing to 68 days from 33 in 2022 is continuing to apply pressure to sellers and how they approach marketing and negotiating on their home.
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Talk soon. Eddie.
