Denton County Real Estate Roundup Jan 2010

MyDenton CountyReal Estate Roundup

January 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

285 430 528 574 684 821 878 708 639 692 583 495

2010

275 NaN 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

72 76 71 67 65 60 67 68 61 66 70 78

2010


5

15

25

35

45

55

65

75

Average Days on Market for SOLD Prop-erties



Jan-

08

Mar

-08

May

-08

Jul-0

8

Sep-

08

Nov-0

8

Jan-

09

Mar

-09

May

-09

Jul-0

9

Sep-

09

Nov-0

9

Jan-

100

1000

2000

3000

4000

5000

6000Homes For Sale vs. SOLD

4069 units



Jan-

08

Mar

-08

May

-08

Jul-0

8

Sep-

08

Nov-0

8

Jan-

09

Mar

-09

May

-09

Jul-0

9

Sep-

09

Nov-0

9

Jan-

100

20

40

60

80

100

120

140

160

180

200

Average Days on Market




2008

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

2009

451 526 608 734 772 833 779 671 675 685 434 364

2010


50

150

250

350

450

550

650

750

850

Units Under Contract by Month




2008

169000

168000

167400

169900

172250

173000

184900

173200

174500

159900

160200

159900

2009

162900

165900

168950

175000

174500

179190

174900

175000

169900

165000

167250

172500

2010

169900

NaN 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 64 69 80 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 1013 1279 1301 1209 1330 1266 1191 1047 969 755 638

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

198250

189000

189900

184900

185000

189900

174500

2010

184964


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 4519 4668 4985 5085 5172 5115 4927 4654 4506 4199 3950

2009

4026 4125 4518 4791 4878 5014 4985 4904 4724 4520 4036 3779

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

199974

199900

199900

199000

2009

197250

199900

209000

209900

217664

219900

219900

216950

215000

218450

224900

219900

2010

209488


25,000

75,000

125,000

175,000

225,000

Median Price for Actively Listed




2008

172 168 164 159 157 159 165 172 178 182 188 191

2009

183 178 170 164 160 157 156 153 150 148 148 140

2010


1030507090

110130150170190

Average DOM for Actively Listed




2008

486 463 431 461 460 473 502 554 512 620 520 586

2009

463 360 420 394 416 462 493 556 498 554 461 536

2010


50

150

250

350

450

550

650

Expired Listings by Month



Jan-

08

Mar

-08

May

-08

Jul-0

8

Sep-

08

Nov-0

8

Jan-

09

Mar

-09

May

-09

Jul-0

9

Sep-

09

Nov-0

9

Jan-

100

1,000

2,000

3,000

4,000

5,000

6,000Supply and Demand

Month Active



IN CLOSING:

With only a 1% increase in active for sale properties from 2008.The Median Sold Price up over 5% for the past 12 months.The end of the $8,000 First Time Homebuyers Tax Credit.The end of the $6,500 Homeowners Tax CreditThe infamous double-dip effect with the looming of new foreclosures and short-sale to flood the market.

It is my opinion that by May of 2010 we will see prices once again begin to fall, possibly as much as 2 - 3%. I am not saying you should wait to buy, if you are a first timer the $8,000 is too great of a opportunity to pass up. You should be actively looking at homes, but I think the pickings are thin right now in Lewisville and Corinth 2 of my favorite first timer communities. But Little Elm is still hot, and still eligible for the USDA Guaranteed Loan program. But I am also one of the few agents out there that says if you are not ready to buy due to financing, job security, relationship issues or perhaps having to settle for a house that may not be just right for you - it may be advantageous to wait.

But you should not wait too long, if the "experts" are right we should start seeing interest rates rise by June or July, and would not be surprised to see them as high as 7% by this time next year.

Denton County Real Estate Roundup Jan 2010

Real Estate

Transcript of Denton County Real Estate Roundup Jan 2010