Mesquite Texas Home Values were DOWN 41% in October

Mesquite Texas Home Values were DOWN 41% in October over the same month last year with 70 homes selling this month compared to 119 sold this month last year! For the 2011, year to date, overall home sales were DOWN 14% with 1,021 homes sold compared to 1,186 homes sold last year.

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New listings were DOWN 22% for the same period last year with 115 homes listed as compared to 147 listed this month last year. For the year 2011, overall home listings were DOWN 20% with 1,672 homes listed as compared to 2101 homes listed last year. Listings under contract were EVEN with 94 homes contracted compared to 94 homes contracted this month last year. Listings under contract for all 2011 were DOWN 5% with 1,100 homes contracted as compared to 1,156 contracted for all last year.

The average sales price of homes was DOWN 10% to $77,002 as compared to $86,025 for this month last year. The overall year of 2011 average sales prices were DOWN 8% to $80,229 as compared to $87,097 last year. Sellers received 91.1% of their asking price this month as compared to 91% this month last year. The average days on the market until sold in was 86 days compared to 93 days for this month last year DOWN 8%.

The current supply of homes on the market was 457 homes DOWN 34% as compared to 691 homes from the same period last year. This is 4.4 month supply of homes on the market DOWN 25% as compared to 5.9 month supply from this month last year.

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