Supply of DFW Homes Down!
At the end of 2011, the number of pre-owned single-family homes on the market in the Metroplex was at the lowest level in a decade.
About 27,000 homes were listed for sale with real estate agents in North Texas, 35 percent less than the record 41,647 listings in 2007 and the lowest number since 2001, according to statistics from the Real Estate Center at Texas A&M University and North Texas Real Estate Information Systems.
“Since sales have maintained a fairly consistent level, the inventory measure is down under five months, which would normally indicate a very strong sellers’ market,” said Center Research Economist Dr. Jim Gaines.
And it’s not just existing homes that are down in number. The Dallas Morning News reported that around 3,000 finished vacant new homes are in the DFW area. That’s about a fourth as many as in 2007.
Source: Dallas Morning News
Read MoreTexas’ Existing Home Sales Up 4 Percent in December 2011
Sales of existing single-family Texas homes in December were up 4 percent from a year ago, according to the most recent Multiple Listing Services (MLS) data compiled by the Real Estate Center at Texas A&M University.
More than 16,500 homes were sold, data showed. The median home price was $150,700, about the same as a year ago, and the state’s overall inventory was at six months.
December 2011 MLS data for many Texas cities are available on the Center’s website. Here is a sampling (data current as of Jan. 30, 2012):
|
|
Sales |
Change from |
Median |
Change from |
Months’ |
|
Austin |
1,738 | up 11% | $188,200 | down 2% | 4.2 |
|
Beaumont |
151 | up 2% | $114,000 | down 14% | 11.1 |
|
Brownsville |
39 | down 33% | $86,800 | down 22% | 12.4 |
|
Dallas |
3,315 | up 3% | $162,800 | up 1% | 4.7 |
|
El Paso |
420 | down 9% | $97,900 | down 27% | 7 |
|
Fort Worth |
645 | up 5% | $112,500 | down 6% | 5.2 |
|
Houston |
5,048 | up 7% | $160,400 | up 2% | 5.9 |
|
Midland |
134 | up 17% | $184,000 | down 1% | 3.3 |
|
San Antonio |
1,393 | up 3% | $148,400 | down 6% | 6.6 |
|
Sherman- |
84 | up 22% | $96,700 | up 3% | 8.8 |
|
Temple- |
115 | up 4% | $120,700 | down 13% | 7.9 |
|
Tyler |
198 | down 5% | $130,800 | up 1% | 11.4 |
|
Victoria |
74 | up 37% | $131,100 | down 2% | 3.8 |
|
Waco |
153 | up 2% | $116,200 | down 1% | 9 |
|
Wichita |
81 | down 31% | $102,300 | down 9% | 7.6 |
|
Texas |
16,505 | up 4% | $150,700 | no change | 6 |
DFW sales prices up for first time in 5 years
Dallas got a little good news this week on the housing front.
According to the Dallas Morning News, last year marked the first time in five years that existing home sales figures in most Dallas neighborhoods were higher than the year before.
In areas where sales went up, the average year-over-year sales increase was about 5 percent.
Real Estate Center Research Economist Dr. Jim Gaines said he predicts that trend will continue in 2012.
“I think your sales this year will be up 2 or 3 percentage points,” Gaines said. “They are going to be about where 2009 sales were.”
Source: Dallas Morning News
Read MoreReal Estate Update – January 16-22nd, 2012 – Episode 292
Evan and Richard of The Matteson Group review and discuss January 16-22nd, 2012 in the real estate market in the Rockwall and Heath Texas areas.
- Current Properties for Sale: 468 homes
- Sales: 6
- Sale Price to List Price: 92%
- Average Days on Market: 178 days
- Number of Showings: 518
For more info: www.TheMattesonGroup.com
Coldwell Banker Apex, Realtors
214.405.3640
Your trusted real estate advisors providing a joy filled experience!
Real Estate Update – January 9-15, 2012 – Episode 291
Evan and Richard of The Matteson Group review and discuss January 9-15th, 2012 in the real estate market in the Rockwall and Heath Texas areas.
- Current Properties for Sale: 462 homes
- Sales: 8
- Sale Price to List Price: 96%
- Average Days on Market: 121 days
- Number of Showings: 509
For more info: www.TheMattesonGroup.com
Coldwell Banker Apex, Realtors
214.405.3640
Your trusted real estate advisors providing a joy filled experience!
Read MoreReal Estate Update – December 2011 Review – Episode 290
Evan and Richard of The Matteson Group review and discuss December 2011 in the real estate market in the Rockwall and Heath Texas areas.
- Current Properties for Sale: 448 homes
- Sales: 65
- Sale Price to List Price: 95%
- Average Days on Market: 128 days
- Type of Market:
- 0-120k – Extreme Sellers (3.7 Months)
- 120-150k – Extreme Sellers (3.9 Months)
- 150-250k – Extreme Sellers (6.4 Months)
- 250-400k – Extreme Buyers (7.2 Months)
- 400k-up – Extreme Buyers (14.4 Months)
For more info: www.TheMattesonGroup.com
Coldwell Banker Apex, Realtors
214.405.3640
Your trusted real estate advisors providing a joy filled experience!
Read More
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