The Colony, Texas Home Values report for December 2014

Overall this year there have been 632 housing sales, which is a 6% decline from a year ago. Houses sold in The Colony decreased 8% this month, with 40 properties sold.

Overall this year, new listings have reached 660 total, which is a 4% decrease relative to the same month last year. This month, 25 new houses were listed in The Colony, a 4% decrease from a month ago. The Colony listed homes under contract were at 28 properties in December 2014, a 0% growth from a month ago. Listings under contract overall this year decreased 3% relative to the same period last year, with – homes sold. The average home sales price so far this year grew 14% compared to the same month last year, with the average price for a home at $179,562. In December 2014, the average price for a house was approximately $162,839, which is a 1% surge from the previous month.

The percentage of original list prices received by buyers this December grew 0%, with buyers receiving 98% of their listed price. On average year-to-date, buyers got 99% of their original price, which is a 1% rise from a year ago. Year-to-date, homes have spent approximately 27 days in the market until sold, which is a 11% drop compared to the same month last year. The days on market until sale was approximately 48 days, a 94% gain from a month ago. During December, the current supply of active listings on the market for properties in The Colony was 24 properties. The market inventory of available homes in The Colony declined 47%. During December there was a 0.5 month supply of available homes on the market. The month supply of available homes in The Colony declined 43% in December 2014.

The Colony real estate information, known as MLS Area 9, is reported by area in the North Texas Real Estate Information System. The information in this report is believed reliable, but is only as accurate as reported by the system in the month of December 2014.

The DFW area is also known as the Dallas Fort Worth Metropolitan Statistical Area, a title designated by the U.S. Census Bureau, which encompasses 12 counties within the state of Texas. The area is divided into two metropolitan divisions: Dallas Plano Irving and Fort Worth. It is comprised of over 70 cities, both incorporated and unincorporated. The DFW Metroplex is, by population, the largest metropolitan area in Texas, the largest in the South, the fourth-largest in the United States, and the tenth-largest in the Americas. The DFW Metroplex encompasses over 9,000 square miles of total area, making it larger in area than the states of Rhode Island and Connecticut, combined. It also has the sixth-largest gross metropolitan product (GMP) in the United States, and is approximately tenth-largest by GMP in the world.

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The Colony Texas Real Estate December 2014

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