Compared to the jaw-dropping price increases seen in of the rest of North Texas, a relatively stable housing market in Colleyville in 2016 must have seemed rather lackluster to some. Things could be changing quickly for Colleyville, however, if December’s market is any indication of what 2017 will bring.
“December was impressively active for Colleyville compared to much of the rest of the year,” said James Martin, president of the MetroTex Association of REALTORS. “The number of sales jumped tremendously, and while prices have been increasing slightly in Colleyville this year, December’s increases were more in line with much of the rest of the region.”
According to the monthly housing report released by MetroTex, there were 141 active listings on the market in Colleyville in December and 45 closed sales, an 18.4 percent increase from 2015. The December dollar volume of sales in Colleyville increased 29.5 percent year-over-year to $26,857,074. The average price in December was $596,824, up 9.4 percent from last year, while the median price was $523,750, up 2.2 percent compared to December last year.
Colleyville’s monthly housing inventory was 3.3 months in December. The Real Estate Center at Texas A&M University contends that 6.5 months of inventory represents a market in which supply and demand for homes is balanced.
Homes spent an average of 98 days on the market in December.
Colleyville 2016 Market Summary
- 517 Homes sold, 2.4 percent lower than 2015.
- $303,199,378 Sales dollar volume for 2016, up 6.4 percent year-over-year.
- $516,209 Median sales price for homes, 3.5 percent more than 2015.
- $586,459 Average sales price for homes, a 3.9 percent increase over 2015.
- 56 Average number of days homes spent on the market in 2016.
- 171 Average number of active home listings on the market in 2016.
- $159 Average price per square foot in 2016, up 6.7 percent year-over-year.
2016 North Texas Market Overall – New records set
- 101,529 Homes sold, beating a 10-year-old record of 95,509 sales. This year’s result is 8 percent higher than 2015.
- $28,050,996,211 Total dollar volume of sales, up 13 percent from 2015 and sets a new record in dollar volume.
- $225,000 Median sales price for homes, 10 percent more than 2015, a record high.
- $276,286 Average sales price for homes, a 7 percent increase over 2015, a record high.
- 42 Average number of days homes spent on the market in 2016.
- 18,355 Average active home listings on the market in 2016, a 1 percent drop.
- $119 Average price per square foot, up 7 percent year-over-year.
Celebrating 100 years of service in North Texas, MetroTex is the area’s largest REALTOR association. We are an advocate for homeowners, private property rights, the real estate industry, and real estate professionals. MetroTex is comprised of more than 18,000 members.
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