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Addison, Texas Real Estate: 2010 vs 2011

By
Real Estate Agent with HomeSmart Stars TX #0552717

Addison, Texas Real Estate: 2010 vs 2011

I was contacted by one of the writers from "Addison, The Magazine" and she asked me to pull some numbers together for her for an upcoming article.  This chart shows that although the market is abysmal elsewhere, here in the North Texas area, and specifically in Addison, Texas, real estate is still a good investment.  While the number of sales declined in 2011, the price per square foot and the average sales price were barely down from the previous year.  There are good indications that 2012 will be a Addison Real Estategood year, too.

Zip 75001         Real Estate Sales 2010 2011
     
# of sales    105     88
# of sales that were new construction     20     18
Days on the Market, average     90   100
Price per sq ft, average: $122.60 $119.06
Price per sq ft, low:   $72.09   $73.73
Price per sq ft, high:  $202.77 $174.90
     
Sales price, average:  $231,055 $229,179
Sales price, low:   $56,000   $55,000
Sales price, high:  $435,549 $380,000

 

 

Posted by

Lorrie Semler, REALTOR
HomeSmart Stars

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Comments(3)

Teral McDowell
Referral Patners LLC - Murphy, TX

Looks like Addison faired well through 2011; 2012 is going to be a whole differnt year!

Jan 16, 2012 08:51 AM
Sharon Parisi
United Real Estate Dallas - Dallas, TX
Dallas Homes

Lorrie, these are good stats for Addison. Do you think that the lower number of sales in 2011 was due to lack of fresh inventory?

Jan 22, 2012 01:47 AM
Lorrie Semler, REALTOR® in the Dallas area. Call/text 972-416-3417
HomeSmart Stars - Addison, TX
Real Service. Real Results. Real Estate

Great question, Sharon!  No, I don't think it was a lack of inventory.  While inventory was low, there was still a nice pool of properties to choose from.  And with 2 new construction townhome communities, buyers could choose from new and pre-owned.  The small number of one-story Addison homes does have buyers looking outside of Addison if that's what they need.

Jan 22, 2012 01:52 AM