Fairview Residential Property Sales For November 2016 Are Higher 11.5%

Real Estate Broker/Owner with DFW Team Realty
November 2016 Real Estate Market Summary for Fairview, TX (MLS Area 52)
  Month Year to Date
  2016 2015 % Change 2016 2015 % Change
Closed Sales (Reported) 26 29 11.5 354 336 -5.1
Closed Sales (Projected) 26 33 25.3 354 340 -4.1
Listings Under Contract 19 21 10.5 362 351 -3.0
Average Sales Price $385,344 $518,372 34.5 $464,634 $529,184 13.9
Median Sales Price $325,000 $406,000 24.9 $396,250 $456,750 15.3
Percent of Original Price Received 98.4 94.5 -4.0 97.2 97.4 0.2
Days on Market Until Sale 19 46 142.5 42 43 2.2
Inventory of Homes for Sale 94 108 14.9      
Months Supply of Inventory 3.0 3.5 17.7      

Homes sold this month in Fairview reached 29, an increase of 11.5% from last year. In Fairview there was a fall of 5.1% in the number of properties sold year to date relative to last year. There were 336 properties sold this year. Projected homes sold this month in Fairview was 33 total, an uptick of 25.3%. Year to date the number of projected properties sold dropped 4.1%, with 340 projected properties sold this year. In Fairview the number of new houses for sale in the market in November 2016 was at 39 total, a climb of 30%. Year to date newly listed homes in the market climbed 0.8%, with 483 newly listed homes in the market this year. This month the number of contract listings in Fairview had a gain of 10.5% from the same month last year, with 21 under contract total. Year to date there was a down-slide of 3% in units listed under contract from 2015. There were 351 units listed under contract this year. Approximate months supply of properties on the market this month experienced a climb of 17.7%, with 3.5 months supply total. This month the number of houses for sale on the market showed an uptick of 14.9%, with 108 listed total. In Fairview there were 46 days on market until sale this month, which was a growth of 142.5% compared to the same month last year. This month percent of list price received in Fairview was 94.5 total, a decrease of 4%. The number of percent of original asking price received year to date saw an improvement of 0.2%, with 97.4 percent total this year.

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Bob Baesmann

DFW Team Realty | 972-978-8800
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