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MetroTex: Farmers Branch inventory low, median prices in $300K–$399K range; state bills could reshape options
Summary
MetroTex Realtors told Farmers Branch council that December snapshots show months of inventory at about 2.4 and a median price in the $300,000–$399,000 range, that active listings and closed sales are down, and that state bills on adaptive use and disclosure could affect local housing options over time.
MetroTex Realtors’ government-affairs representative Matthew Church told the Farmers Branch City Council on Feb. 3 that the local housing market snapshot shows constrained supply and continuing affordability pressures.
“Months of inventory, 2.4, that is still a very healthy inventory supply number,” Church said, but he warned that ‘‘active listings down, closed sales down’’ and that wages have not kept pace with home-price inflation. He said the median price in Farmers Branch is in the $300,000–$399,000 range and noted that younger buyers are underrepresented among recent market participants.
Church said the slide he highlighted was transactional data: ‘‘This answers just the sales, the transaction side of things. It…
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