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Are Prices Back to the 2005-06 prices?

Reblogger Sharon Parisi

Real Estate Agent with United Real Estate Dallas TREC# 0544069

July 24, 2013 11:00 PM

Every day someone inquires about the health of the real estate market. Dallas is one of the cities leading the way back to a healthy market. Some neighborhoods are up in value by double digits this year. In general, those are the markets that suffered the most at the height of the recession. It is important to remember that every market is local. Every neighborhood is increasing in value at a different rate. As you study this map please remember that these are median numbers.

Not one major city is back to the 2005-06 prices yet! Denver and Dallas folks are very close but not quite there! My Minneapolis peeps still have a 26% increase to get to back to those prices! Las Vegas is the worst city in regards to coming back to the pre crash market.

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John McCormack, CRS

Albuquerque Homes Realty - Albuquerque, NM

Honesty, Integrity, Results, Experienced. HIRE Me!

Very interesting Sharon and thanks for the re-blog. I would have otherwise missed it. It was on the national news tonight how the housing market across the board has picked up and people should be buying and flipping homes as great investments. They did compare now to 2006 in most areas. Odd how we get such different numbers from different sources. I know my area is NOT as HOT as it was in 2006... not even close.

Jul 25, 2013 02:35 PM

Sharon Parisi

United Real Estate Dallas - Dallas, TX

Dallas Homes

John, the areas that dropped the most in value, have gained the most in value, as they are perceived to be the greatest bargains. You are definitely right. The areas that lost the most are still not back to where they were before the recession. Thanks so much for commenting!

Jul 26, 2013 01:33 AM

Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES

Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL

Florida Waterfront and Country Club Living

Sharon, in our area we would still have a long way to go to reach those prices from 2006. I'm not even sure it would desirable.

Jul 26, 2013 10:35 AM

Kathleen Daniels, Probate & Trust Specialist

KD Realty - 408.972.1822 - San Jose, CA

Probate Real Estate Services

Sharon, Local, local, local ... real estate is local and in many cases, it is hyper-local. Statistics are just that. Median prices won't tell a homeowner what their home is worth or the true picture of their local market. Only an experience local real estate agent can provide specific local information on the market and home values for a specific home.

Jul 27, 2013 02:24 AM

Hi Kathleen, I have had appraisers tell me in the last two weeks that they are looking on the same street for comps when possible. That is really micro local. Agents research and compile reports based on all information available. I have seen two examples recently where buyers spent $25,000+ more than they should of because they had no representation or purchased through the listing agent who represents only the seller.

Jul 27, 2013 03:32 AM

Are Prices Back to the 2005-06 prices?

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