Farmers Branch Property Sales For December 2016 Are Higher 7.1%

By
Real Estate Broker/Owner with DFW Team Realty
December 2016 Real Estate Market Summary for Farmers Branch, TX
  Month Year to Date
  2016 2015 % Change 2016 2015 % Change
New Listings 110 121 10.0 2537 2588 2.0
Closed Sales (Reported) 184 197 7.1 2128 2200 3.4
Closed Sales (Projected) 184 221 20.3 2128 2224 4.5
Listings Under Contract 119 113 -5.0 2145 2213 3.2
Average Sales Price $249,072 $288,545 15.8 $250,970 $273,626 9.0
Median Sales Price $228,950 $255,000 11.4 $221,250 $246,000 11.2
Percent of Original Price Received 97.3 96.7 -0.6 99.2 99.5 0.3
Days on Market Until Sale 33 35 6.4 25 26 3.7
Inventory of Homes for Sale 209 208 -0.5      
Months Supply of Inventory 1.2 1.1 -3.7      

Houses sold in December 2016 in Farmers Branch experienced a rise of 7.1% compared to 2015, with 197 sold total. Year to date in Farmers Branch real estate sales reported saw a gain of 3.4% from December last year, with 2200 real estate sales reported this year. Projected housing sales in December 2016 was higher 20.3%, with 221 projected housing sales total this month. Year to date the number of projected residential properties sold was at 2224, an improvement of 4.5%. This month there was a hike of 10% in the number of new homes listed. There were 121 new homes listed total this month. Year to date there was a climb of 2% in new unit listings. There were 2588 new unit listings total this year. In December 2016 the number of properties listed under contract was lower 5% in contrast to 2015, with 113 properties listed under contract total this month. There were 2213 properties listed under contract year to date, and this was an uptick of 3.2% from December 2015. In Farmers Branch this month the number of approximate months supply of houses on the market went down 3.7%, with 1.1 approximate months supply of houses on the market total this month. Housing units for sale this month was at 208 total, a decline of 0.5%. The number of days on market until sale in December 2016 reached 35, a hike of 6.4% from the same point in time last year. The total percent of original list price received in Farmers Branch this month reached 96.7 total, a dip of 0.6%. Year to date percent of asking price received underwent an increase of 0.3%, with 99.5 percent total this year.

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Texas Dallas County Farmers Branch
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Dallas Real Estate
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Bob Baesmann

DFW Team Realty | 972-978-8800
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