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.
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.