Active listings grew again in November, bringing area inventory to a 2.9-month supply.
According to the latest report from the MetroTex Association of REALTORS, active listings increased by 10.2% last month, with 22,344 properties on the market. Based on the current pace of sales, that’s a 2.9-month supply, up from 2.4 months in November 2022.
The typical home stayed on the market for 79 days — 46 days for sale, plus an additional 33 days to close.
Closings fell 3.8% during the month, however, with 6,041 homes sold. Meanwhile, the median sale price increased by 0.3% to $390,000.