Hill Crest, Fox Run and Valley View - State of the Neighborhood Q4 2010

By
Home Inspector with Texas Inspected TREC # 20406
https://activerain.com/droplet/4Zj

PROPERTY VALUES IN YOUR NEIGHBORHOOD

This newsletter is a snapshot of the real estate market in Hill Crest, Fox Run and Valley View, specifically for the 4th quarter of 2010.

 

Current Homes on Market

Average List Price

List Price / Sq Ft

Avg Days on Market

Your Neighborhood

(12 homes)

$162,412

$79.53

118 days

All Midlothian

(225 homes)

$224,629

$86.18

135 days

Homes Sold

Average List Price

Average Sale Price

Sale Price / Sq Ft

Avg Days on Market

Your Neighborhood

4th Quarter 2010

(4 homes)

$189,900

$186,250

$79.37

87 days

All Midlothian
4th Quarter 2010

$182,118

$176,203

$75.12

118 days

Absorption Rate*

All 2010

4th Quarter 2010

December 2010

Your Neighborhood

12

18

9

All Midlothian

8.21

8.92

8

 

*- Absorption rate is used to determine trends in a market by using the number of current listings and the number of sold properties in a given time frame to measure how long it is taking to sell market inventory. An absorption rate greater than six is considered to signify a buyer’s market, and below six is a seller’s market.

While the homes in your neighborhood are staying on the market a little longer than we would like, your sales prices are staying very strong compared to other parts of the city. While it might be easier to sell a house in your neighborhood than other areas in our market, I would still advise not to put a home on the market now unless really necessary. Once the market picks back up in March, Fox Run, Hill Crest and Valley View will be the closest thing Midlothian has to a seller’s market.

 

This data was compiled using the MLS database (NTREIS).

For more Midlothian market info, check out my Park Place market report and my Midlothian Meadows market report

 

 

 

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Scott Cotton

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