Denton County Luxury Homes Market: Days on the market (blue line) vs Month Supply of Inventory (grey bars)
City of Denton, TX has seen a decrease in Luxury Properties sales over the last year. Based on the information provided by NTREIS (Local MLS), the number of luxury properties (defined as sold price equals or above $490,000) offered for sale has increased 11% in the city of Denton. It took on average 4 times longer to sell a luxury home in Denton in October 2009 than the same time last year. Very few homes in this price range go under contract per month. In fact, the largest number was 3 in August of 2009. Often, not a single property in this category finds a buyer. On the other hand, Denton county, overall, which includes cities such as Argyle, Flower Mound, Highland Village, Trophy Club, Corinth, Double Oak to name a few, has seen a much better market performance in the luxury homes category. Sold luxury homes are up 30% from 23 homes sold in October 08 to 30 sold in October 09. While the number of properties under contract has declined by 14%, the average days on the market for a luxury home in Denton County is down 24% since October 08.
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