Addison Texas Home Values DOWN 11% in October

Addison Texas Home Values were DOWN 11% in October over the same month last year with 69 homes selling this month compared to 78 sold this month last year! For the 2011 year to date, overall home sales were DOWN 5% with 919 homes sold compared to 970 homes sold last year.

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New listings were DOWN 17% for the same period last year with 151 homes listed as compared to 182 listed this month last year. For the year 2011, overall home listings were DOWN 12% with 1,980 homes listed as compared to 2,256 homes listed last year. Listings under contract were UP 4% with 82 homes contracted compared to 79 homes contracted this month last year. Listings under contract for all 2011 were DOWN 2% with 966 homes contracted as compared to 989 contracted for all last year.

The average sales price of homes was UP 11% to $289,797 as compared to $268,950 for this month last year. The overall year of 2011 average sales prices were UP 2% to $279,092 as compared to $272,879 last year. Sellers received 88.1% of their asking price this month as compared to 90.3% this month last year. The average days on the market until sold was 120 days compared to 117 days for this month last year UP 3%.

The current supply of homes on the market was 663 homes, DOWN 27% as compared to 903 homes from the same period last year. There is a 7.2 month supply of homes on the market, DOWN 26% as compared to a 9.8 month supply from this month last year.

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