Farmers Branch Property Sales For February 2016 Up 31.3%

February 2016 Real Estate Market Summary for Farmers Branch, TX
Month Year to Date
2016 2015 % Change 2016 2015 % Change
Closed Sales (Reported) 115 151 31.3 226 253 11.9
Closed Sales (Projected) 115 170 47.5 226 272 20.2
Listings Under Contract 131 162 23.7 269 328 21.9
Average Sales Price $215,768 $251,135 16.4 $216,800 $246,156 13.5
Median Sales Price $203,000 $223,500 10.1 $201,800 $223,500 10.8
Percent of Original Price Received 98.9 99.2 0.3 98.4 98.9 0.5
Days on Market Until Sale 36 29 -20.0 35 29 -16.9
Inventory of Homes for Sale 186 162 -12.9
Months Supply of Inventory 1.0 0.9 -13.2

In February 2016 home sales reported was up 31.3% from last year, with 151 home sales reported total this month. Year to date homes sold saw an uptick of 11.9% from February last year, with 253 homes sold this year. Projected real estate sales in February 2016 showed an uptick of 47.5%, with 170 projected total. Year to date there were 272 projected residential properties sold in Farmers Branch, and this was a climb of 20.2%. This month in Farmers Branch the number of new homes in the market was at 188 total, a growth of 22.1%. Year to date there were 367 new houses in the market in Farmers Branch, which was an improvement of 15%. In Farmers Branch in February 2016 properties listed under contract was at 162 total, a climb of 23.7% compared to the same month last year. The number of homes listed under contract year to date showed a rise of 21.9% relative to last year, with 328 listed under a contract total this year. In February 2016 approximate months supply of real estate inventory experienced a drop of 13.2%, with 0.9 months of supply total. In February 2016 there were 162 houses for sale in the market, which was a down-slide of 12.9%. In Farmers Branch the number of days on market until sale in February 2016 was 29, a slump of 20% from last year. In February 2016 percent of asking price received in Farmers Branch reached 99.2, a hike of 0.3%. Year to date the number of percent of original asking price received in Farmers Branch saw a hike of 0.5%, with 98.9 percent of original asking price received this year.

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Farmers Branch Texas Real Estate February 2016

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