Farmers Branch Texas Home Values were UP 10% in October

Farmers Branch Texas Home Values were UP 10% in October over the same month last year with 121 homes selling this month compared to 110 sold this month last year! For the 2011, year to date, overall home sales were UP 2%% with 1,271 homes sold compared to 1,246 homes sold last year.

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New listings were DOWN 15% for the same period last year with 183 homes listed as compared to 215 listed this month last year. For the year 2011, overall home listings were DOWN 13% with 2,184 homes listed as compared to 2,513 homes listed last year. Listings under contract were UP 24% with 98 homes listed compared to 79 homes listed this month last year. Listings under contract for all 2011 were UP 5% with 1,343 homes listed as compared to 1,274 listed for all last year.

The average sales price of homes was DOWN 6% to $187,752 as compared to $199,165 for this month last year. The overall year of 2011 average sales prices were DOWN 9% to $183,724 as compared to $200,933 last year. Sellers received 92.4% of their asking price this month as compared to 91.6% this month last year. The average days on the market until sold in was 105 days compared to 99 days for this month last year UP 6%.

The current supply of homes on the market in was 581 homes, DOWN 29% as compared to 828 homes from the same period last year. This is 4.6 month supply of homes on the market DOWN 22% as compared to 6.9 month supply from this month last year.

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