Market Report: Addison Texas, 3rd Quarter 2011

By
Real Estate Agent with United Real Estate TX #0552717

Market Report: Addison Texas, 3rd Quarter 2011.

It's a good news, bad news scenario for Addison real estate.  The good news is, compared to the 3rd quarter of last year, the median sales price is up (from $252,000 to $260,947). But the bad news is that the number of sales decreased (from 23 to 14) and the total volume sold also decreased ($6,238,711 to $3,570,027).

Other good news is that days on the market (DOM) for most of the single family and townhomes is down.  Sales for the lower priced condos, however, is way, way up.

3rd Q. 2011 Market Report for Addison Texas Home Sales

 

 

 

Addison condo complexes are not on the FHA approved list and this makes the condos more difficult to sell.  It takes either a cash buyer, or a buyer with a good sized downpayment to complete a condo purchase.

Inventory is low, so now is a great time to list your Addison home for sale.

Thanks go out to Chicago Title for the charts.

Posted by

Lorrie Semler, e-PRO, GRI, SRES, CPRES, CRS
Addison Resident/Addison Specialist                                                      Subscribe Button
Real Service. Real Results. Real Estate.
United Real Estate
972-416-3417

http://www.AddisonUpdate.com                                                                                                                         

2011 Recipient of Addison Magazine's Readers Choice
Award for Best Residential Real Estate Agent.     

Information About Brokerage Services                                                         

                                                                                                

    Find me on the Web:

Lorrie Semler Facebook Lorrie Semler LinkedInLorrie Semler Twitter

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate General Information
Location:
Texas Dallas County Addison
Groups:
Local Expert
Lone Star Real Estate Professionals
Market Reports
Posts to Localism
Texas Real Estate
Tags:
addison real estate

Spam prevention
Show All Comments
Rainmaker
714,253
Kathy Stoltman
Balboa Real Estate - Ventura, CA
Ventura County Real Estate Consultant 805-746-1793

Very interesting and very clear to see.  I share your thoughts with regard to the condo complexes that are not FHA approved.

Locally, we seem to have a lot of buyers with cash to make a larger down payment or to pay with cash, squeezing out the FHA buyer even if the condo complex is FHA approved!

Oct 26, 2011 10:57 AM #1
Rainmaker
1,298,086
Lorrie Semler, REALTOR® in the Dallas area. Call/text 972-416-3417
United Real Estate - Addison, TX
Real Service. Real Results. Real Estate

Kathy: It's going to be a downward spiral for condo associations.  With more and more investors purchasing units, it will be harder and harder to maintain the owner occupancy numbers that FHA looks for.

Oct 26, 2011 11:54 AM #2
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
1,298,086

Lorrie Semler, REALTOR® in the Dallas area. Call/text 972-416-3417

Real Service. Real Results. Real Estate
Want more information? Just ask!
*
*
*
*

Additional Information