Hello everyone, I’m Marie Walton, a REALTOR® with Ebby Halliday REALTORS, here to bring you the latest market update on condos and town homes for November 2024 in the Farmers Branch.
Let’s dive right into the data. Currently, we have a 8.26 Months Supply of Inventory. This means that at the current rate of sales, it would take 8.26 months to sell all the condos and town homes on the market. Over the last 12 months, Months Supply of Inventory has increased by +257.58%, indicating a shift in the market.
The List to Sold Price percentage is at 94.8%, which shows that condos and town homes are selling close to their list price. This is important for both buyers and sellers to keep in mind when negotiating offers.
The median days on market is 70, meaning that on average, condos and town homes are selling within 70 days of being listed. This can give you an idea of how quickly properties are moving in the area.
And finally, the median sold price is $472,500. This gives you an idea of the average price of homes that have sold in the area recently.
It’s important for both buyers and sellers to stay informed about the market trends in order to make well-informed decisions. Whether you’re looking to buy or sell, knowing the data can help you navigate the market with confidence.
If you have any questions or would like more information, feel free to reach out to me. Thank you for stopping in and stay tuned for more updates from Marie Walton, REALTOR. Happy house hunting!
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Marie Sells Dallas 