Pilot Point Home Sales For November 2016 Up 18.8%

By
Real Estate Broker/Owner with DFW Team Realty
November 2016 Real Estate Market Summary for Pilot Point, TX (MLS Area 31)
  Month Year to Date
  2016 2015 % Change 2016 2015 % Change
Closed Sales (Reported) 64 76 18.8 960 1132 17.9
Closed Sales (Projected) 64 85 33.4 960 1141 18.9
Listings Under Contract 56 83 48.2 992 1198 20.8
Average Sales Price $225,595 $299,732 32.9 $230,076 $276,589 20.2
Median Sales Price $191,500 $244,500 27.7 $197,500 $227,500 15.2
Percent of Original Price Received 97.0 96.2 -0.8 97.3 97.6 0.3
Days on Market Until Sale 35 43 23.5 42 40 -4.9
Inventory of Homes for Sale 219 271 23.7      
Months Supply of Inventory 2.5 2.7 5.6      

In November 2016 there were 76 reported residential properties sold in Pilot Point, which was a growth of 18.8% relative to last year. There were 1132 reported housing units sold year to date, and this was a climb of 17.9% from the same point in time 2015. The number of projected real estate sales this month experienced an uptick of 33.4%, with 85 projected total. In Pilot Point year to date projected houses sold had a growth of 18.9%, with 1141 projected total this year. In November 2016 in Pilot Point new homes was at 107 total, a growth of 24.4%. In Pilot Point new homes for sale in the market year to date saw an increase of 21.9%, with 1492 newly listed total this year. Listings under contract in November 2016 showed a rise of 48.2% from the same time of year 2015, with 83 under a contract total. Listings under contract year to date saw an uptick of 20.8% from 2015, with 1198 listed under contract total this year. The number of approximate months supply of properties on the market in November 2016 climbed 5.6%, with 2.7 approximate months supply of properties on the market this month. This month the number of units for sale reached 271 total, a growth of 23.7%. In Pilot Point this month days on market until sale underwent a hike of 23.5% compared to the same time of year last year, with 43 days total. This month in Pilot Point the total percent of original asking price received saw a drop of 0.8%, with 96.2 percent total. Percent of list price received year to date reached 97.6 total, an improvement of 0.3%.

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Bob Baesmann

DFW Team Realty | 972-978-8800
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