Farmers Branch Residential Housing Sales For November 2016 Are Higher 55.9%

November 2016 Real Estate Market Summary for Farmers Branch, TX
Month Year to Date
2016 2015 % Change 2016 2015 % Change
Closed Sales (Reported) 118 184 55.9 1944 1995 2.6
Closed Sales (Projected) 118 207 75.2 1944 2018 3.8
Listings Under Contract 143 175 22.4 2026 2101 3.7
Average Sales Price $245,054 $269,815 10.1 $251,150 $272,107 8.3
Median Sales Price $215,800 $249,500 15.6 $220,100 $245,000 11.3
Percent of Original Price Received 97.7 99.0 1.3 99.4 99.7 0.3
Days on Market Until Sale 23 30 28.3 25 25 2.7
Inventory of Homes for Sale 255 228 -10.6
Months Supply of Inventory 1.4 1.3 -13.2

Properties sold in Farmers Branch in November 2016 showed an uptick of 55.9% compared to the same point in time last year, with 184 sold total. Year to date the number of property sales in Farmers Branch was up 2.6% compared to the same month 2015, with 1995 property sales total this year. In Farmers Branch the number of projected property sales in November 2016 experienced a gain of 75.2%, with 207 projected total. Year to date projected units sold increased 3.8%, with 2018 projected units sold total this year. In Farmers Branch in November 2016 the number of new house listings experienced a hike of 17%, with 179 new on the market total. Year to date there was a gain of 1.6% in newly listed housing units. There were 2467 newly listed housing units total this year. This month there were 175 contract listings in Farmers Branch, which was a rise of 22.4% compared to 2015. Year to date there were 2101 houses listed under contract, and this was a growth of 3.7% in contrast to the same month 2015. The number of approximate months supply of houses on the market in Farmers Branch this month was at 1.3 total, a drop of 13.2%. In Farmers Branch there was a slump of 10.6% in housing units for sale on the market this month. There were 228 housing units for sale on the market total this month. This month the number of days on market until sale in Farmers Branch saw a hike of 28.3% relative to last year, with 30 days total. In November 2016 the total percent of original asking price received experienced a growth of 1.3%, with 99.0 percent total. In Farmers Branch year to date the number of percent of asking price received saw a climb of 0.3%, with 99.7 percent of asking price received total this year.

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Farmers Branch Texas Real Estate November 2016

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