The Crosstown Blog

Trench Report: Carrollton/Farmers Branch Town Homes
November 6th, 2013 8:01 PM

Target Property: A 2,000 sqft town home built in 1975 in the Oakbrook neighborhood of Farmers Branch. The annualized MLS data of comparable town homes, 1/2-duplexes and Zero-lot patio homes within the Carrollton/Farmers Branch school district market area was analyzed as follows:

Year    # Sold    Forclosures    Median Sale    Price/sf    List/Sale    DOM

2009    23            17%        $112,500      $65.50/sf    97%        86

2010    14            36%        $127,000      $65.12/sf    97%        81

2011    21            33%        $94,500        $55.75/sf    96%        128

2012    24            38%        $96,250        $58.62/sf    95%        83

2013    24            17%        $112,250      $67.37/sf    97%        96

Market Area Comparable "Active" Status:

Listed: 4 properties

Average List $: $159,850 (1,781 sf built in 1974 at $87.71/sqft)

Days on Market: 65

Inventory: 1.7 months at 2.4 sales/month in 2013

Foreclosures: 0

Search of comparable MLS listings and sales reveals that demand/supply levels are under-supplied with only 4 comparable listings. The median sale price has increased from 2011 through 2013; however, mitigated by the preceding 12-month analysis indicating a down-turn in the past 3-months. Overall, this is interpreted as current stability of market area values for comparable town home and patio home products. Furthermore, positive indicators are show in the Active inventory including higher list prices, declining days on market, no foreclosures and low inventory.

 


Posted in:General
Posted by Clay Bonner on November 6th, 2013 8:01 PMPost a Comment

Subscribe to this blog

profile picture