University Park Residential Home Sales For February 2016 Are Down 6.1%

February 2016 Real Estate Market Summary for University Park, TX (MLS Area 25)
Month Year to Date
2016 2015 % Change 2016 2015 % Change
Closed Sales (Reported) 49 46 -6.1 82 92 12.2
Closed Sales (Projected) 49 52 5.5 82 98 19.1
Listings Under Contract 75 80 6.7 139 134 -3.6
Average Sales Price $1,131,741 $1,016,649 -10.2 $1,001,772 $972,122 -3.0
Median Sales Price $970,000 $876,000 -9.7 $825,000 $860,000 4.2
Percent of Original Price Received 95.3 94.9 -0.4 95.3 94.3 -1.1
Days on Market Until Sale 60 68 13.8 63 70 10.7
Inventory of Homes for Sale 277 342 23.5
Months Supply of Inventory 3.8 4.5 19.5

The number of real estate sales this month was 46, a drop of 6.1% from the same month 2015. Year to date the number of real estate sales in University Park was at 92, an improvement of 12.2% compared to 2015. The number of projected residential housing sales this month in University Park had a climb of 5.5%, with 52 projected total. Year to date there was a climb of 19.1% in the number of projected housing sales in University Park. There were 98 projected housing sales total this year. The number of newly listed houses in the market this month rose 28.5%, with 176 newly listed houses in the market total this month. New home listings in the market year to date saw a rise of 9.5%, with 288 new home listings in the market this year. In University Park this month houses listed under contract was at 80, an uptick of 6.7% relative to last year. Year to date contract listings had a dip of 3.6% compared to 2015, with 134 listed on a contract total this year. The number of approximate months supply of houses on the market this month gained 19.5%, with 4.5 approximate months supply of houses on the market this month. This month there were 342 units for sale in University Park, which was a climb of 23.5%. In University Park in February 2016 the number of days on market until sale reached 68 total, an increase of 13.8% relative to last year. The total percent of original list price received this month slumped 0.4%, with 94.9 percent of original list price received total this month. Year to date the number of percent of asking price received reached 94.3, a decrease of 1.1%.

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University Park Texas Real Estate February 2016

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