D-FW had the biggest quarterly home sales declines among major Texas metros

Austin still leads the state in housing costs with an almost 33% year-over-year gain.

Statewide home sales were down 3.5% in the third quarter.(Steve Brown )

Dallas-Fort Worth had the greatest third-quarter home sales decline of any major Texas metro area.

But D-FW still topped the state in total properties sold by residential real estate agents.

In the just completed quarter, D-FW real estate agents sold 31,486 single-family homes — 9.3% fewer sales than in the same quarter last year, according to a new report from the Texas Realtors association.

Statewide home sales by agents totaled 115,272 homes, down 3.5% from third quarter 2020.

“Although we’re seeing a slight decline in homes sold from the same period a year ago, it’s important to remember we’re comparing to 2020′s record-breaking numbers,” Marvin Jolly, chairman of Texas Realtors, said in the report. “Across the state, we’re still experiencing strong demand for housing, and buyers are moving to Texas from all over the nation.”

North Texas single-family home sales by real estate agents have been lower than the previous year in each of the last four months.

The drop in home purchases is due to a lack of properties on the market and record prices, which have kept some potential buyers out of the market, analysts say.

D-FW home median home prices in the third quarter were a record $354,900 — up 18.3% year-over-year, according to the Realtors organization.

Austin had the highest home prices among major Texas metros with a median of $465,000, almost 33% higher than in third-quarter 2020.

Statewide, the median home sales price was $310,000, 16.9% ahead of a year earlier.

Houston was the only big Texas market with increased third-quarter home purchases — up 1.9% year-over-year. The Houston area was second in the state with 30,470 home purchases.

The number of homes for sale statewide was down more than 18% from third-quarter 2020.

“Our housing supply remains stretched, but we’re not seeing as many properties with a frenzy of offers above asking price like earlier in the year,” Jolly said. “Regardless, buyers in many markets still may find it challenging to get their offers accepted.”

Steve Brown, Real Estate Editor. Steve covers commercial and residential real estate in Dallas-Fort Worth.

stevebrown@dallasnews.com @SteveBrownDMN

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