North Texas home prices were still on a tear last month as the median price of a Dallas-Fort Worth home rose 8.6%. The average price of a North Texas home was up 11.2% compared to August 2019. Within the City of Denton, prices were more muted as the unusual jump in luxury home sales skewing the July numbers disappeared. As a result, the median price of Denton home was up only 1.9% year-over-year. The average price of a Denton home rose 3% to $296,801.
The big monthly drop in average Denton home prices brings them closer to trend, but still elevated considering the backdrop of the economy and the employment sector. The numbers for Denton County in August show median home prices jumping 6.3%, with average prices up 7.4% compared to a year ago. Sales of Denton County homes rose 10%, while pending sales (contracts) for Denton County homes rose