Rental Listings in the Dallas area have shown having the most activity, up from last year's numbers. Single Family, Condos and Townhomes, Farms and Ranches, Multi-Family, Lots and Vacant Land, Commercial and Rentals are all analyzied based on catergories such as "sales," "average price" and "average days on market."
While sales are down for each area surveyed, as has been noted across the United States in most markets, rental listings are continuing to take a lead in activity as the uncertainty of our economy takes place.
I personally have noticed an increase in rental activity as well as in property management in the DFW Metroplex. Many homeowners are concerned their homes will not sell as job relocations are becoming more frequent. Several properties I have listed have been placed on market as a "rental" and "sale" to better the chances that mortgage payment will not have to come out of the owner's pocket. Homes that dual-list are having a better chance of being rented out, preventing the home owner from being out months on end having to fork over a mortgage payment on a vacant property.
These numbers were made available by the Real Estate Center for NTREIS (North Texas Real Estate Information Systems, Inc.)
Property Type – Rental
Sales ….. 1,962
% Change Last Year ….. 11%
Average Price ….. $1,348 %
Change Last Year ….. 0%
Average DOM ….. 50
% Change Last Year ….. 2%
Property Type – Rental (Pending Activity)
Pending Sales ….. 1,955
% Change Last Year ….. 14%
New listings ….. 2,721
% Change Last Year ….. 16%
Active Listings ….. 4,978
% Change Last Year ….. 31%
I hope this information helps!
Thank you,
Chris Hyzy
Beam Real Estate, L.L.C.
Realtor - Director of Property Management Relations
chyzy@beamrealestate.com
http://www.linkedin.com/in/chrishyzy
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