Mesquite Home Sales For November 2016 Lower 5.5%

November 2016 Real Estate Market Summary for Mesquite, TX (MLS Area 5)
Month Year to Date
2016 2015 % Change 2016 2015 % Change
Closed Sales (Reported) 128 121 -5.5 1470 1638 11.4
Closed Sales (Projected) 128 136 6.2 1470 1653 12.4
Listings Under Contract 129 126 -2.3 1550 1678 8.3
Average Sales Price $127,838 $145,476 13.8 $125,769 $143,286 13.9
Median Sales Price $126,250 $148,500 17.6 $125,000 $143,000 14.4
Percent of Original Price Received 96.2 98.6 2.5 98.0 99.1 1.1
Days on Market Until Sale 35 25 -28.3 31 26 -16.8
Inventory of Homes for Sale 261 147 -43.7
Months Supply of Inventory 2.0 1.0 -50.9

This month the number of housing sales showed a down-slide of 5.5% relative to November last year, with 121 sold total. Year to date there was a rise of 11.4% in residential housing sales in Mesquite from the same point in time 2015. There were 1638 residential housing sales this year. In Mesquite there were 136 projected houses sold this month, which was an increase of 6.2%. There was a hike of 12.4% in projected home sales year to date. There were 1653 projected home sales this year. This month the number of new house listings in the market was at 134 total, a decrease of 5%. Year to date new listings had an uptick of 1.2%, with 1882 newly listed total this year. In November 2016 there were 126 homes listed under contract, which was a down-slide of 2.3% in contrast to November last year. Year to date there was a hike of 8.3% in the number of listings under contract in Mesquite from November 2015. There were 1678 listings under contract this year. In Mesquite this month the number of months supply of property inventory had a decrease of 50.9%, with 1.0 months supply total. Properties for sale in the market in November 2016 experienced a decrease of 43.7%, with 147 listed total. Days on market until sale this month dropped 28.3% compared to 2015, with 25 days on market until sale this month. The total percent of asking price received in Mesquite in November 2016 showed a growth of 2.5%, with 98.6 percent total. Percent of list price received year to date in Mesquite experienced a climb of 1.1%, with 99.1 percent total this year.

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Mesquite Texas Real Estate November 2016

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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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