Dec 30, 2009

The end to a tough year in real estate

Like most Realtors, I'm happy to say good bye to 2009. While 2009 statistics for greater Dallas won't be available for a couple of weeks, we can still take a look at smaller neighborhood stats. I've compiled a comparison for the the Preston Hollow neighborhood bordered by Walnut Hill Lane, Preston Road, Royal Lane and Hillcrest. Here are the stats as of last week:

Note that the average age of sold homes went up while average square footage went down. This shows that we had more sales of older homes vs. newer construction.

The good news for buyers is that the buyer's market will probably last a few more months before both the 'recession recovery' and the seasonal upswing begin. The good news for sellers is that local available home inventory is down and the influx of people moving to Texas is driving more demand. [where: 75230]

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