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.
The national housing report indicates that home prices and sales of home are on the rise, there also appears to be an improvement in the inventory level. For the first time since June 2010 the number of homes for sale in April 2013 increased over the number of homes for sale in March 2013 - the increase 1.6%. At the same time, Closed Transactions and Median Prices both remained 10% higher than last year's levels. Additional encouraging news is the Days On Market - the national average is 77 days - that is a decrease of 8 days over the average in March 2013.
Realtor.com is the one of the most trusted and utilized web site to search available real estate, millions of people use it each year. One of the things buyers are most often researching or using as their search parameters is a specific neighborhood. Using the "zip code search" option Realtor.com has compiled a list of the most popular neighborhoods in America for 2012.
The second most popular neighborhood is Willow Bend Country, Plano Texas. This neighborhood is a chip shot away from the Gleneagles Country Club. It is also just a hop, skip and jump from the marinas and fishing spots on Lewisville Lake. Additional perks for this popular community is easy freeway access and commuter train options to the Dallas-Fort Worth Metroplex; plenty of close by shopping and cultural attractions; and families appreciate the superior Plano Schools.
Let us help you find your dream home in Willow Bend Country ~ or any other neighborhood!
It rarely fails, no matter where we are, if we run into friends one of the first things they always ask us is “How’s the market?” Well we are here to tell you that market is good, and if you are a seller it is great! If you are thinking 2013 might be the year to sell your home we will tell you NOW is the time to put your home on the market!
Here are some facts and figures to show you just what is happening in our local market:
New listings on the market for the month of January 2012 vs. 2013 showed a decrease of 2.7%:
January 2012 = 4,353
January 2013 = 4,237
Overall inventory for the entire month of January – 2012 vs. 2013 showed a 32.8% decrease!
January 2012 = 12,745
January 2013 = 8,564
Closed sales for January 2012 vs. January 2013 showed and 18.2% increase:
January 2012 = 1,921
January 2013 = 2,271
Another important factor is how many days were the home homes on the market? That number decreased by 26.7%:
January 2012 = 109
January 2013 = 80
Some information about the sold price of homes indicates that prices increased slightly. The median sales price increased 6.6% and the percent of original list price received increased 2.2%.
One of the stats we considering when expressing how the future looks is to review the number of pending sales, and in January the number of homes in “pending” status was at a 3 year high! 12.2% more than last year!
So, let us say it again – NOW is the time to be “in the real estate market” – we are looking for houses to sell! Contact us today and we will provide you with a FREE, no obligation market value report – you just may be surprised at what a commodity your home is.
We have all heard that the real estate market is improving, but it is always nice to see what the facts say about our own area. Are things really improving in Plano and Allen Texas? The answer is YES! The real estate market is consistent. Here in the Plano area we did not experience the deep valleys that many other parts of the country experienced, we have been experienced a steady market during 2011 and 2012.
Here are the facts and figures for Plano for 2011 vs. 2012:
Average Sold Price
Average Price Per Square Foot
Average Days on Market
As you see, more homes sold in 2012, and the average sold price increased. The average days on market decreased by nearly a month! The average price per square foot is a good “apples to apples” comparison point, and strongly indicates the steady market we have discussed.
As an additional point of reference let’s look at the same facts and figures for the Allen, Texas real estate market:
Average Sold Price
Average Price Per Square Foot
Average Days on Market
While the number of homes sold in the Allen area is less than Plano on average the facts support the same conclusion, we are in a consistent market.
If you would like to know how your neighborhood compares, contact us and we will provide you with the details.
Now that we have celebrated the New Year most of us begin returning our home decor to "normal" and that often involves disposing of your once-live Christmas tree.
In Plano we are offered seveal locations where we can drop off our tree for recycling. All trees and greenery will be processed into Texas Pure products. Texas Pure compost, top-dressing, mulch and soil blend products have been developed as high-quality yard and garden products. You can order Texas Pure products here or watch for information in your City of Plano utility bill.
A beautiful custom home in exclusive Plano community of Stoney Hollow!Large covered porches are ideal for outdoor entertaining, or just relaxing & enjoying your slice of Plano!Upgrades and elegance throughout.Backs to 30+ acres of open space, no backyard neighbors!
As might be expected in a challenging economy in which large numbers of boomers are downsizing or buying second homes, the era of the McMansion has passed. Homebuyers have readjusted their priorities for how to design and use living space, with a focus on function over extravagance. A recent American Institute of Architects Home Design Trends Survey highlights the following shifts:
·As more people work out of their home or telecommute, homeowners desire a dedicated workspace.
·An expanded outdoor living area featuring furniture, outdoor kitchens, fireplaces and so on increases functional living space.
·Mud rooms offer an informal transition area between the outdoors and indoors and also provide additional storage.
·Homebuyers continue to seek energy-saving features, including double- or triple-glazed windows and tankless water heaters.
Paul Taylor Homes is a premier local builder, with more than 30 years of upstanding reputation. They understand families have a choice when buying a new home; they are leaders in customer service and adapting to new trends and designs.
Just look at this stunning Paul Taylor Home in Southridge Estates, sitting on a acre with 4 bedrooms, 3 baths and 3 car garage. This home offers ample living space – something for everyone! Ideal for entertaining indoors or out!
Contact us today and we will be happy to provide a private showing!
Enjoy a lifestyle of elegance and privacy in this stunning move-in ready home! Spacious and open floor plan with 5 bedrooms and 4 baths and a sparkling pool and spa!This home has just experienced a price reduction – it is priced to sell!Hurry and you can be celebrating the holidays in your new home!
Located in Plano’s Stoney Hollow community, this home will exceed your expectations!The seller says, bring an offer!!!
This wonderful townhome in Carrollton has a new price and you can enjoy a life of luxury and convenience here!Ideally located!Two spacious bedrooms!Well equipped and spacious kitchen.Dining room!Living area offers a cozy fireplace.You will not be disappointed!
A wonderful spacious and elegant home in Plano that boasts a sparkling pool and spa has just experienced a price reduction!A great home that is ready for new owners – be sure to put it on your MUST SEE list!
Sellers in Plano, TX are enjoying a consistent market, even during the holiday season. When we compare sales between December 2009 and January 2010 it is obvious it is a seller’s market. Over 100 homes sold in January, many more than the other areas we track. The average sold price and price per square foot increased with January sales. Days on market did increase slightly but remains under 2 months!
Traditionally January Real Estate can be slow, and even though fewer homes sold the prices remained fairly constant!
Our market remains steady and with the expanded tax credit it is a great time to purchase a home. To qualify for the tax credit you need to have a home under contract before April, which will be here before you know it! Call us and we can help you find your dream home and take advantage of the tax credit!
As we look toward the New Year we wonder what will the real estate market do? Let’s first take a moment to reflect on the past 6 months. Often reviewing what we just finished helps us prepare for the future.
Single Family Home sales in Plano, Texas were very consistent for the final half of 2009.
·Average List Price $266,889
·Average Sold Price $258,033
o4% difference between list price and sold price!
·Average Price Per Square Foot $93
·Average Days on Market 60
These stats tell us that homes sold on a consistent and reasonable basis. Not quite what the media would have you believe is it?
We are here to assure you that people are buying homes and they are selling for a fair and reasonable price!
The government tax credit has been extended and expanded – it is a GREAT time to buy a home!
Plano real estate has remained steady with some interesting and slight changes. In July over 300 homes sold, since then the number of homes sold has decreased each month. However the days on market and price per square foot has barely changed! Plano continues to enjoy the least amount of days on the market for this area. We expect the market to continue in a steady fashion due to the recent government tax credit.
For Plano in September – Sold Properties:
257 homes sold
Average List Price $264,670
Average Sold Price $256,733
Average Price Per Sq Ft $94
Average Days on Market 59
October – Sold Properties
242 homes sold
Average List Price $249,894
Average Sold Price $241,793
Average Price Per Sq Ft $91
Average Days on Market 62
Plano saw a steady number of homes sold during the “summer season”. The average sold price decrease slightly, however homes sold for an average of 96% of the list price (that figure stayed very steady). Price per square foot and number of days on the market were consistent. Plano enjoys the lowest number of days on the market. Remember this is the largest area we review, therefore the price range and style of homes varies significantly.
For Plano in July – Sold Properties:
329 homes sold
Average List Price $274,772
Average Sold Price $265,764
Average Price Per Sq Ft $94
Average Days on Market 60
August – Sold Properties
284 homes sold
Average List Price $260,047
Average Sold Price $251,401
Average Price Per Sq Ft $90
Average Days on Market 63
First time buyers – the clock is ticking and time is running out to take advantage of the $8,000 tax credit. Allen remains a great place to purchase your first home.
Plano is different than the other areas we review each month, it is larger and therefore offers a wider variety of homes, the price range is also larger than the other areas.
For Plano in May – Sold Properties:
261 homes sold
Average List Price $253,284
Average Sold Price $244,413
Average Price Per Sq Ft $90
Average Days on Market 53
June – Sold Properties
288 homes sold
Average List Price $284,885
Average Sold Price $275,125
Average Price Per Sq Ft $97
Average Days on Market 59
As you can see things change from month to month, and in the Plano area things are increasing in the right areas (average sold price and price per square foot) and decreasing the right areas (days on market).
It’s obviously a good time to sell your Plano area home – call us and let’s talk about our marketing plan for your home!
You often here the saying, “what’s old will be new again” – and that is true in today’s real estate market. Yes there has been a shake up and things have changed but there are still buyers and sellers and people living in the homes of their dreams. And as is true most often when things are “shook up” or changing, that going back to fundamentals is the best track back to “normal”
Below are time-honored home buying essentials that apply now more than ever:
Save Up to Pay Down
The tradition of the down-payment is almost as old as real-estate itself, yet home loans with no money or very little money down became increasingly popular during the start of the decade. Changes in the credit market have made such arrangements all but nonexistent today, and in many cases buyers won't be considered for a loan without at least a 10% down payment waiting in the wings.
In reality, buyers who invest at least a 15% to 20% down payment will be rewarded as markets re-stabilize. A larger down payment provides the buyer with a lower interest rate, lower payments, higher equity and a stronger negotiating position when it comes to refinancing.
Lenders will employ a variety of different metrics to determine how large of a loan and monthly payment you qualify for, but ultimately you must determine a realistic monthly budget. Qualifying for a home doesn't necessarily mean that you can truly afford the payments in the real world. Start the home buying process off right by determining exactly what kind of mortgage payment you can afford, leaving yourself enough buffer to deal with life's little surprises.
Focus on Your Market
It's easy to be distracted by national housing headlines, but real estate has always been centered on very specific local market conditions. What is true in one area is not the case in another, sometimes down to the street level. Rather than paying too much attention to trends in distant cities and markets, keep your eyes squarely on the dynamics close to home, and work with your local real estate expert.
Call me and let’s talk about these fundamentals and how my experience and knowledge can help you!
Are you looking for a custom home in Plano? Well, we have a new listing that fits the profile! 3621 Trail Walker Drive is a Kensington custom home located in the highly desired community of Stoney Hollow! This beautiful & spacious home offers 3 bedrooms, two living areas, and numerous upgrades!
Give us a call and we will be happy to give you a personal tour of 3621 Trail Walker Drive.