Addison Residential Home Sales For February 2016 Down 2.7%

February 2016 Real Estate Market Summary for Addison, TX (MLS Area 10)
Month Year to Date
2016 2015 % Change 2016 2015 % Change
Closed Sales (Reported) 113 110 -2.7 211 191 -9.5
Closed Sales (Projected) 113 124 9.4 211 205 -3.0
Listings Under Contract 135 125 -7.4 252 235 -6.7
Average Sales Price $282,991 $323,407 14.3 $288,976 $339,966 17.6
Median Sales Price $265,000 $321,509 21.3 $275,750 $320,000 16.0
Percent of Original Price Received 96.3 97.1 0.8 96.4 96.3 -0.1
Days on Market Until Sale 43 33 -23.8 44 36 -18.1
Inventory of Homes for Sale 218 205 -6.0
Months Supply of Inventory 1.4 1.5 3.1

This month there were 110 real estate sales recorded, which was a drop of 2.7% in contrast to last year. The number of residential property sales recorded year to date reached 191 total, a slump of 9.5% from the same month last year. There were 124 projected property sales this month, and this was a growth of 9.4%. There were 205 projected properties sold year to date, which was a decrease of 3%. This month in Addison new housing units for sale had a hike of 3.5%, with 148 new on the market total. The number of newly listed housing units in the market year to date underwent an increase of 7%, with 289 newly listed total this year. The number of contract listings in February 2016 was lower 7.4% from 2015, with 125 contract listings this month. Year to date in Addison the number of residential properties listed under contract reached 235, a fall of 6.7% compared to February last year. The number of approximate months supply of inventory in Addison in February 2016 was 1.5, a rise of 3.1%. This month the number of properties for sale was 205, a slump of 6%. The number of days on market until sale in February 2016 reached 33 total, a decline of 23.8% compared to February last year. This month percent of original list price received in Addison reached 97.1 total, an improvement of 0.8%. Year to date the number of percent of original asking price received in Addison saw a drop of 0.1%, with 96.3 percent total this year.

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Addison Texas Real Estate February 2016

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