Denton County Real Estate Roundup Feb 2010

MyDenton CountyReal Estate Roundup

February 2010

Jay Myers – REALTOR®

Keller Williams Realty –Dallas Metro NorthFlower Mound, TXWebsite: www.MyDentonCountyRealEstate.comemail: [email protected]: (972) 510-7800

Serving North Texas Buyers, Sellers and Investors Specializing in Denton County

http://www.mydentoncountyrealestate.com/

mailto:[email protected]

Jay Myers (972) 510-7800 www.MyDentonCountyRealEstate.com

REAL ESTATE STATISTICS ANALYSIS AND TRENDS FOR DENTON COUNTY TEXAS

The following statistics are gathered from the North Texas Real Estate Information Systems (NTREIS) the information herein deemed reliable but not guaranteed.

This analysis is based solely on:Single Family ResidencesResale or Pre-Owned homesDenton CountyBased on a 1 or 2 Year Analysis

It Does NOT Include•New Construction•Condominiums•Farms and Ranches•Vacant Land

All interpretation and commentary is that of Jay Myers and not necessarily shared by the National Association of REALTORS® (NAR) the Texas Association of REALTORS® or my brokerage Keller Williams Realty.


My Denton County Real Estate Roundup

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2008

415 553 636 665 841 843 864 800 649 532 403 479

2009

285 430 528 574 684 821 878 709 641 695 590 502

2010

302 375 NaN NaN NaN NaN NaN NaN NaN NaN NaN NaN

50150250350450550650750850

Average SOLD Properties by Month



10,000

30,000

50,000

70,000

90,000

110,000

130,000

150,000

170,000

190,000

Median Price for SOLD Properties by Month




2008

77 73 70 66 62 62 60 60 69 67 68 70

2009

71 76 71 67 65 60 67 68 62 66 70 79

2010


5

15

25

35

45

55

65

75

Average Days on Market for SOLD Prop-erties



Feb-

08

Apr-0

8

Jun-

08

Aug-

08

Oct-0

8

Dec-0

8

Feb-

09

Apr-0

9

Jun-

09

Aug-

09

Oct-0

9

Dec-0

9

Feb-

100

1000

2000

3000

4000

5000

6000Homes For Sale vs. SOLD




2008

581 661 671 803 842 817 826 676 539 453 404 361

2009

451 526 606 733 772 832 779 667 676 683 434 357

2010


50

150

250

350

450

550

650

750

850

Units Under Contract by Month




2008

169000

168000

167400

169900

172250

173000

184900

173000

174500

159900

160200

159900

2009

162450

164900

169430

175000

174500

179095

175000

175000

169000

165000

167900

171500

2010

175000

169900

NaN NaN NaN NaN NaN NaN NaN NaN NaN NaN

147,500

152,500

157,500

162,500

167,500

172,500

177,500

182,500

Median Under Contract Price




2008

73 71 63 64 62 58 63 65 70 66 71 72

2009

71 74 64 66 62 67 66 68 65 70 79 82

2010


5

15

25

35

45

55

65

75

85

Average Days on Market Under Contract




2008

1194 1206 1274 1419 1364 1389 1233 1140 957 903 766 675

2009

1023 1011 1279 1301 1209 1331 1264 1191 1047 970 755 637

2010


100

300

500

700

900

1,100

1,300

1,500

New Listings by Month




2008

179900

179900

184900

189900

194155

189900

192500

187650

179900

174939

184945

170500

2009

188000

199500

197900

192500

199900

197000

189000

189900

184900

185000

189900

173500

2010

182900

189800


157,500

162,500

167,500

172,500

177,500

182,500

187,500

192,500

197,500

Median Price for New Listings




2008

4380 4520 4669 4986 5086 5173 5116 4928 4655 4507 4200 3951

2009

4027 4124 4516 4792 4873 5016 4986 4905 4728 4525 4040 3781

2010


500

1,500

2,500

3,500

4,500

5,500

Number of Active For Sale Properties




2008

180000

184900

189900

194900

199900

200000

207000

205000

199967

199900

199900

199000

2009

197000

199900

208450

209900

216950

219500

219500

216488

214939

216500

224900

218900

2010

205958

203500


25,000

75,000

125,000

175,000

225,000

Median Price for Actively Listed




2008

172 168 164 159 158 160 165 172 179 182 189 192

2009

184 179 172 166 162 159 159 158 157 156 159 154

2010


1030507090

110130150170190

Average DOM for Actively Listed




2008

486 464 431 461 460 473 502 554 512 620 520 586

2009

463 361 419 395 416 462 493 557 497 557 462 536

2010


50

150

250

350

450

550

650

Expired Listings by Month



IN CLOSING:

I believe the only thing that is perfectly clear after looking at the statistics for February is that the real estate market for Denton County is beginning to change.

With median prices for under contract properties down over $5,000, and sold properties median price only increasing $2,000 these are numbers I don’t believe anyone expected to see while the tax credit was still in effect, even for the winter month of February.

I have talked a lot, and I mean a lot about the first time home buyer tax credit and it’s expiration on my site, with my clients, and those who call me with questions. I am sticking with my earlier opinion or prediction that I expect to see prices fall by up to 3% by mid to late summer; which will be most of the appreciation in values we have seen in the last year and a half.SELLERSIt is always important for sellers to price their properties appropriately. Do not chase the market, or wait for the market to catch up to you when it comes to setting a price if you are serious about selling.

BUYERSIt is equally important for buyers to not believe they can come in and low-ball a house with a offer 10% less than the market suggest, not the seller or their agent.

Work with an agent that tells you what you need to hear, not what you want to hear.

http://www.mydentoncountyrealestate.com/

Denton County Real Estate Roundup Feb 2010

Real Estate

Transcript of Denton County Real Estate Roundup Feb 2010