University Park, Texas Home Values report for November 2014

Homes sold in University Park dropped 25% this month, with 73 homes sold. So far this year, houses sold decreased 11% compared to the same period last year, with 908 houses sold this year.

So far this year, new listings are at 1,299 in all, which is a 5% dip from a year ago. New housing properties listed in November of this year in University Park dropped 6%, with 64 houses listed during November. Current listings under contract year-to-date declined 11% relative to the same month last year, with 852 houses sold during 2014. There were 62 listings under contract during November, a 9% decline from a month ago. The average price for a home year-to-date increased 5% relative to the same period last year, the average sales price being $1,087,737. This month, the average price for a home for houses in University Park was about $1,026,941, which is a 9% decrease from last month.

In November of this year, buyers received 92.8% of their asking price, a 0% gain from a month ago. So far this year, the percent of asking price received grew 0% relative to the same month last year, with buyers receiving 94.8%of their listed price. So far this year, houses sold increased 1% relative to the same month last year, at 60 days on market until sale. In November of this year, houses spent an average of 76 days in the market until sold, which is a 0% surge from last month. The current supply of active listings on the market in University Park rose 8%, the current supply of active listings on the market being 277 properties. This November there was a 3.8 month supply of houses, a 20% increase from a month ago.

University Park real estate information, known as MLS Area 25:, 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 November 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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University Park  Texas Real Estate November 2014

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