Mar 2, 2012

Real Estate Market Update

It is commonly understood that the real estate market is not like the stock market. A real estate buyer doesn't look at the daily or weekly fluctuations. Most people don't buy and sell homes every few of months or even every couple of years. That said - the real estate market is behaving like the stock market and now sales are up, up, up.

Experts predicted the real estate market would slowly come back and that started last year. But in just the past 6 weeks, showings of homes for sale have increased dramatically. More homes have gone under contract in the last 4 weeks than is typical for this time of year. And sales are rising as a result. Inventory of homes for sale has increased at a slower rate, driving the demand even more. In other words, they are selling faster than they are coming on the market.

Here are a few single family home statistics (as of this morning):

North Dallas
between Midway & Central, Northwest Hwy & LBJ Freeway

Homes available for sale: 363
Average size: 4,593 square feet, 4 bedrooms, 3 baths
Average asking price: $1,311,840

Homes currently under contract: 75

Homes sold since Jan 1, 2012: 62
Average size: 3,603 square feet, 3 bedrooms, 3 baths
Average sales price: $719,832 (average asking price was $762,104)

Park Cities, Bluffview, Devonshire, Greenway Parks (areas south of Northwest Hwy)

Homes available for sale: 353
Average size: 4,074 square feet, 3 bedrooms, 3 baths
Average asking price: $1,715,110

Homes currently under contract: 96

Homes sold since Jan 1, 2012: 85
Average size: 3,590 square feet, 3 bedrooms, 3 baths
Average sales price: $1,082,843 (average asking price was $1,128,643)

[where: 75230]

6 comments:

buy property in the usa said...

Great blog! thanks for taking time to discuss this , i really appreciate and this is really helpful for those who interested on real estate, thank you for sharing this update.

Sell Real Estate Note said...

Hi,
This is really interesting take on the concept about Real Estate Market Update. I never thought of it that way. I came across this site recently which I think it will be a great use of new ideas and informations. Thanks a lot.

Matthewsstar said...
This comment has been removed by the author.
matthewsstar said...

It is commonly recognized that the housing industry is not like the currency markets. A property buyer doesn't look at the daily or regular variations.

Property Management Companies

Home said...

But housing industry always give more profit than Currency market.

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