Farmers Branch Residential Property Sales For January 2017 Are Down 5.9%

January 2017 Real Estate Market Summary for Farmers Branch, TX
Month Year to Date
2017 2016 % Change 2017 2016 % Change
New Listings 179 177 -1.1 179 177 -1.1
Closed Sales (Reported) 102 96 -5.9 102 96 -5.9
Closed Sales (Projected) 102 108 5.8 102 108 5.8
Listings Under Contract 163 166 1.8 163 166 1.8
Average Sales Price $238,785 $288,930 21.0 $238,785 $288,930 21.0
Median Sales Price $223,250 $259,250 16.1 $223,250 $259,250 16.1
Percent of Original Price Received 98.4 97.2 -1.2 98.4 97.2 -1.2
Days on Market Until Sale 29 31 5.6 29 31 5.6
Inventory of Homes for Sale 202 200 -1.0
Months Supply of Inventory 1.1 1.1 -4.6

In January 2017 the number of housing units sold reached 96, a drop of 5.9% from last year. Year to date there were 96 properties sold in Farmers Branch, which was a decline of 5.9% relative to last year. In Farmers Branch there were 108 projected residential housing sales this month, which was an increase of 5.8%. In Farmers Branch projected real estate sales year to date was at 108, a climb of 5.8%. In January 2017 new house listings in the market saw a dip of 1.1%, with 177 newly for sale total. Year to date new listings in the market in Farmers Branch was lower 1.1%, with 177 new listings in the market total this year. The number of homes listed under contract this month in Farmers Branch was higher 1.8% relative to 2016, with 166 homes listed under contract total this month. In Farmers Branch listings under contract year to date showed an uptick of 1.8% relative to January 2016, with 166 listed on contract total this year. There was a drop of 4.6% in approximate months supply of residential property inventory this month. There were 1.1 approximate months supply of residential property inventory total this month. In Farmers Branch the number of houses for sale this month reached 200 total, a decrease of 1%. The number of days on market until sale in January 2017 in Farmers Branch saw an improvement of 5.6% in contrast to 2016, with 31 days total. This month percent of list price received was lower 1.2%, with 97.2 percent of list price received total this month. Year to date percent of asking price received was lower 1.2%, with 97.2 percent of asking price received this year.

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Farmers Branch Texas Real Estate January 2017

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