Flower Mound home sales decreased 7.5 percent in June while home prices increased, according to the June 2016 Flower Mound housing market report released by the Greater Lewisville Association of Realtors (GLAR).
“The summer selling season is in full effect and as we get further into 2016 the real estate market will remain competitive,” said Kim Patterson, 2016 GLAR president.
According to the report, 160 homes were sold in Flower Mound in June 2016, a 7.5 percent decrease from the year prior. The median price increased 15 percent year-over-year to $397,750 during the same time frame.
Flower Mound’s monthly housing inventory was 2.3 months in June 2016, unchanged from the year prior.
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 32 days on the market in June 2016, two days more than June 2015. Additionally, active listings decreased 0.4 percent to 256 listings during the same time frame.
June 2016 Statistics At-A-Glance
- 160 – Homes sold in June 2016, 7.5 percent less than June 2015.
- $397,750– Median price in June 2016, 15 percent more than June 2015.
- 2.3 – Monthly housing inventory in June 2016, unchanged from June 2015.
- 32 – Average number of days homes spent on the market in June 2016, two days more than June 2015.
- 256 – Active home listings on the market in June 2016, 0.4 percent less than June 2015.