Farmers Branch, Texas Home Values report for November 2015

Home sales cumulatively this year decreased 3% relative to the same period last year, with 1,987 houses sold. Farmers Branch houses sold dipped 23% in November 2015, with 145 properties sold.

Year-to-date, new home properties listed have reached 2,426 total. New real estate listings climbed 4% relative to the same month last year. New homes listed in Farmers Branch climbed 10% this month, with 153 homes listed this month. The number of listings under contract in Farmers Branch dipped 5%, with 149 houses currently listed under contract this month. Year-to-date, houses sold grew 0% compared to the same period last year, with 2,047 houses sold this year. The average price for a house was approximately $247,700 this month, which is a 8% upturn from a month ago. Year-to-date, the average selling price was approximately $251,285, which is a 10% surge from a year ago.

Overall this year, the percentage of original list prices received increased 2% relative to the same month last year, with percentage of original list prices received at 99%. This month, buyers sold their houses for 98% of their original price, a 0% rise from last month. Year-to-date, homes spent about 25 days in the market until sold., which is a 32% decrease compared to the same month last year. On average, houses spent 24 days in the market until sold, which is a 38% fall from a month ago. The current supply of active listings on the market was 208 properties, which is a 8% fall from a month ago.The month supply of available homes in Farmers Branch fell 7% in November of this year, with a 1.2 month supply of available homes.

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 2015.

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 2015

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