Now that the traditionally “busy” summer season is behind us we wanted to review the market stats again to see how our local market is preforming.
As you might suspect all of the stats support a rebounding market, here in the Plano/Dallas area we did not experience the deep valley drops like many of metropolitan areas across the country. So our market may be better termed as “continuing a strong upward path”.
First let’s talk about average days on market. For the period of September 2010 through August 2011 the average days on market was 109, we saw a 13.4% decrease for the period of September 2011 through August 20112 and then an additional 23.9% decrease during the next 12 months. Days on market are important to sellers, homes are selling faster! For buyers it usually means they have less time to “think about” – typically homes are sitting on the market long enough to delay your decision.
Here you will see a graph showing how many homes sold in different price ranges over the past three years. As you can see the number of homes increased every year in each price range, except one – the past 12 months homes under $105,000 showed a decrease.
Of course everyone wants to know the value of their home, are homes selling for more now than they did last year or the year before that? The answer is YES! Each year we have seen an increase in the median sold price.
As we have said this information is based on an overall picture of our entire area, each individual neighborhood and community has its own stats, and they may differ than what we are seeing in these reports.
Contact us and let’s share with you how your home in your community compares to these facts.
Helping your find your home is our goal,
Getting you through the process is our expertise!