Prosper Texas Home Values were DOWN 18% in October

Prosper Texas Home Values were DOWN 18% in October over the same month last year with 18 homes selling this month compared to 22 sold this month last year! For the 2011, year to date, overall home sales were UP 19 % with 312 homes sold compared to 261 homes sold last year.

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New listings were UP 65%% for the same period last year with 66 homes listed as compared to 40 listed this month last year. For the year 2011, overall home listings were UP 4% with 538 homes listed as compared to 518 homes listed last year. Listings under contract were DOWN 36% with 16 homes listed compared to 25 homes listed this month last year. Listings under contract for all 2011 were UP 16% with 313 homes listed as compared to 270 listed for all last year.

The average sales price of homes was UP 10% to $320,904 as compared to $290,423 for this month last year. The overall year of 2011 average sales prices were DOWN 1.5% to $330,319 as compared to $335,424 last year. Sellers received 93.2% of their asking price this month as compared to 91.4% this month last year. The average days on the market until sold in was 107 days compared to 82 days for this month last year UP 30%.

The current supply of homes on the market was 209 homes DOWN 2% as compared to 214 homes from the same period last year. This is 6.9 month supply of homes on the market DOWN 16% as compared to 8.3 month supply from this month last year.

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