Video: Real Estate Community Tour for Farmers Branch, TX
See Real estate community tour for Farmers Branch, TX
Welcome to August's Market Update. Let’s take a look at residential real-estate activity in your area during the month of July. The number of active listings was up 4% from one year earlier, and up 20% from the previous month. This continued upward trend reflected a healthy inventory for buyers to choose from. As you can see, the median listing price for the month was just under 340-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was down 40%. This lower number of days may signal a positive trend in the local inventory-turnover rate. The median sale price was just under 200-thousand dollars. The number of units sold increased 7% year-over-year, and increased 26% month-over-month. These figures may indicate that buyers have been taking advantage of opportunities in this market. Thanks for watching. We hope you use this information to make smart, informed decisions in your upcoming real-estate transactions. Feel free to contact us for more information or further assistance.