Farmers Branch, Texas Home Values report for November 2014

Houses sold cumulatively this year increased 1% relative to the same period last year, with 1,942 houses sold. There were 144 home sales in Farmers Branch this month, which is a 8% drop from a month ago.

New home listings year-to-date dropped 4% compared to the same period last year, with 1,942 homes sold. New real estate listings in Farmers Branch decreased 7% in November of this year, with 139 houses listed this month. Year-to-date, current listings under contract have reached 2,060 overall, which is a 3% surge relative to the same period last year. Listings under contract this month in Farmers Branch gained 11%, with 159 homes currently listed under contract. Cumulatively this year, the average home sales price for properties in Farmers Branch was about $229,157, which is a 10% gain from a year ago. The average sales price in Farmers Branch went up 13% this month, with $234,210 being the average price for a home.

Percent of asking price received year-to-date went up 1% compared to the same period last year, with percent of original list price received at 97.6%. This month, buyers got 96.8% of their listed price, a 0% rise from the previous month. The days on market until sale was about 50 days, a 34% rise from the previous month. So far this year, home sales fell 4% compared to the same period last year, at 38 number of days on market until sale. The current supply of active listings on the market in November of this year in Farmers Branch decreased 40%, the market supply of homes being 199 houses. The month supply of houses in November 2014 in Farmers Branch declined 41%, with a 1.1 month supply of houses.

Farmers Branch real estate information, known as MLS Area 22:, 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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Farmers Branch  Texas Real Estate November 2014


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