Irving Texas Home Values were DOWN 13% in October

Irving Texas Home Values were DOWN 13% in October over the same month last year with 89 homes selling this month compared to 102 sold this month last year! For the 2011, year to date, overall home sales were DOWN 6% with 1,058 homes sold compared to 1,121 homes sold last year.

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New listings were DOWN 13% for the same period last year with 165 homes listed as compared to 190 listed this month last year. For the year 2011, overall home listings were DOWN 18% with 1,940 homes listed as compared to 2.376 homes listed last year. Listings under contract were UP 30% with 112 homes contracted compared to 86 homes contracted this month last year. Listings under contract for all 2011 were DOWN 1% with 1,126 homes contracted as compared to 1,129 contracted for all last year.

The average sales price of homes was DOWN 11% to $169,605 as compared to $196,096 for this month last year. The overall year of 2011 average sales prices were DOWN 7% to $179,010 as compared to $194,052 last year. Sellers received 91% of their asking price this month as compared to 89.1% this month last year. The average days on the market until sold in was 102 days compared to 126 days for this month last year DOWN 19%.

The current supply of homes on the market was 616 homes DOWN 34% as compared to 940 homes from the same period last year. This is 5.7 month supply of homes on the market DOWN 33% as compared to 8.6 month supply from this month last year.

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