Dallas Northwest Home Sales For December 2016 Down 16.7%

By
Real Estate Broker/Owner with DFW Team Realty
December 2016 Real Estate Market Summary for Dallas Northwest, TX (MLS Area 16)
  Month Year to Date
  2016 2015 % Change 2016 2015 % Change
New Listings 52 67 28.8 1001 1075 7.4
Closed Sales (Reported) 60 50 -16.7 768 746 -2.9
Closed Sales (Projected) 60 56 -6.4 768 752 -2.1
Listings Under Contract 38 50 31.6 762 7620.0  
Average Sales Price $377,174 $369,573 -2.0 $320,755 $369,586 15.2
Median Sales Price $327,500 $314,000 -4.1 $295,000 $330,000 11.9
Percent of Original Price Received 96.4 94.0 -2.5 96.9 96.6 -0.4
Days on Market Until Sale 33 47 40.6 33 35 6.7
Inventory of Homes for Sale 117 127 8.5      
Months Supply of Inventory 1.8 2.0 11.7      

The number of home sales reported this month in Dallas Northwest was 50, a decline of 16.7% from December 2015. The number of property sales recorded year to date reached 746, a drop of 2.9% from December last year. Projected real estate sales in December 2016 saw a down-slide of 6.4%, with 56 projected real estate sales this month. Year to date there was a drop of 2.1% in projected properties sold in Dallas Northwest. There were 752 projected properties sold total this year. This month the number of new listings in Dallas Northwest was at 67, a rise of 28.8%. Year to date new property listings in the market had a growth of 7.4%, with 1075 new on the market total this year. In Dallas Northwest contract listings this month underwent an uptick of 31.6% from last year, with 50 on a contract total. Year to date the number of homes listed under contract reached 7620.0, no change compared to December last year. Months supply of inventory in December 2016 reached 2.0 total, a rise of 11.7%. The number of homes for sale this month in Dallas Northwest underwent an improvement of 8.5%, with 127 listed total. In Dallas Northwest there was an improvement of 40.6% in days on market until sale this month from the same period last year. There were 47 days on market until sale total this month. The total percent of original asking price received in December 2016 reached 94.0, a dip of 2.5%. Year to date percent of original list price received in Dallas Northwest experienced a slump of 0.4%, with 96.6 percent total this year.

Click here to view homes in Dallas Northwest.

 

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Bob Baesmann

DFW Team Realty | 972-978-8800
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