The north Texas real estate market these days has been described as "fast and furious."

In Austin, the average time of homes on the market dropped to 20 days in August, down from 86 days in August 2020, according to a report from HomesUSA.com.

In Dallas-Ft. Worth, the average has fallen to 53 days in August, down from 91 days in August 2020 with San Antonio’s average also down to 53 days in August, down from 92 days last year. Houston's average has  dropped to 73 days  110  days in August 2020. The statewide average was 58 days down from almost 100 days in 2020 and the fastest in since the index was launched in 2017, a news release said.

“Like  the popular movie franchise, Texas new homes sales are fast and furious,”  Ben Caballero, owner of HomesUSA.com said in the news release. “Prices are trending higher as demand continues to outstrip supply, even though builders are doing everything they can to build more homes.”

With supply down, prices are up, the news release said.

For new homes, the statewide average broke $400,000 barrier for the first time in August. It hit $401,601, up from $391,122 in July. 

In fact, sales are so fast and so furious, the numbers may be understated, said Caballero.

“Today, we believe builders are selling homes so fast, the majority of new homes are not being entered into the MLS (Multiple Listing Service),” he said in a statement. “While all the new home data we report comes from local MLSs and is the most accurate and timely, it does not capture all of the new homes sales activity.”