Heartland Association of REALTORS® released the following information regarding real estate statistics for October 2015.
Brown County home sales decreased 15 percent to 28 sales in October while home prices fell, according to the October 2015 Brown County housing market report released today by the Heartland Association of REALTORS®.
Stan Crawford, 2015 President of the Heartland Association of REALTORS®, said, “The number of Brown County home sales have shown a decrease when comparing October 2014 and October 2015 sales. The average days on the market has decreased considerably, which is a favorable trend for sellers as we enter our traditionally slower season.”
According to the report, 28 homes were sold in Brown County in October 2015, a 15 percent decrease from the year prior. The median price for Brown County homes decreased 7 percent year-over-year to $110,000 during the same time frame.
Brown County’s monthly housing inventory* was 10.5 months in October 2015, a decrease of 2.2 months from October 2014. The Real Estate Center at Texas A&M University cites that 6.5 months of inventory represents a market in which supply and demand for homes is balanced.
Homes spent an average of 112 days on the market in October 2015, 48 days less than October 2014. Additionally, active listings increased 2 percent to 346 listings, the same amount as last year during this time frame.
October 2015 Statistics At-A-Glance
• 28 – Homes sold in October 2015, 15 percent less than October 2014.
• $110,000 – Median price in October 2015, 7 percent less than October 2014.
• 10.5 – Monthly housing inventory in October 2015, 2.2 months less than October 2014.
• 112 – Average number of days homes spent on the market in October 2015, 48 days less than October 2014.
• 346 – Active listings in October 2015, 2 percent more than October 2014.
With a growing economy, booming population and high quality of life, Texas is a great place to live, work and do business. As such, the demand for Texas real estate remains strong and enduring. Texas REALTORS® continue to work daily to protect the rights of private-property owners, keep homeownership affordable, and promote public policies that benefit homeowners.
* The inventory of homes for a market can be measured in months, which is defined as the number of active listings divided by the average sales per month of the prior 12 months.
