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Bill Head
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Farmers Branch continues to experience a very active housing market this spring, with median prices rising about 11.4%.

“The second quarter is shaping up to be very exciting for the Farmers Branch area,” said Russell Berry, president of the MetroTex Association of Realtors. “Especially when you consider the sales records already set in the first part of the year.”

“While houses aren’t staying on the market for long, there is a lot of turnover,” Berry continued. “Across North Texas, we saw a 15% increase in the number of sales over last April. With nearly 18,000 homes on the market we can expect the strong sales figures to continue well into the year.”

Prices do continue to rise as the demand for housing continues to be strong. Farmers Branch saw mixed price results, with average existing home prices rising quickly and weaker prices in new construction, according to a report released by the MetroTex Association of REALTORS today. Highlights of the report include:

  • There were 28 sales of residential properties in Farmers Branch in April, and 43 new listings.
  • The average price per square foot for residential properties in the area is $125, a 10.5% increase.
  • The median sales price of all types of housing in Farmers Branch in April was $242,000. The median sales price for single family homes was $245,000.
  • Most homes sell for 97.4%% of list price when sold through a MetroTex Realtor.
  • There is approximately 1.5 months inventory in the area. Less than 3 months inventory is considered a strong seller’s market.

MetroTex represents more than 16,000 members involved in all aspects of the real estate industry. MetroTex is the largest REALTOR® member association in North Texas representing the entire region. Established in 1917, MetroTex is an advocate for the real estate industry and private property rights. For more information, visit us online at DFWRealEstate.com.

                                                                                                                                                    

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