Real Estate Roller Coaster Ride in Addison TX? Not Really

By
Real Estate Agent with United Real Estate TX #0552717

Real Estate Roller Coaster Ride in Addison TX? Not Really.

Sure, we've had our ups and downs in Addison real estate over the past few years, but the highs were never really too high and lows .... Well, the lows weren't as bad as other places around the country.

So where are we now? Still on a downward path, or climbing back up?

Here are the stats for the past 12 month period:

  For Sale           Pending Sold Avg DOM
  Total # Single Fam Duplex Condo Townhouse # New/Month      
Oct-11 78 24 1 17 36 24 2 3 96
Nov-11 64 17 1 16 30 6 9 9 66
Dec-11 60 21 2 13 24 10   7 97
Jan-12 67 24 0 17 26 11   8 117
Feb-12 70 23 0 19 28 19   8 81
Mar-12 71 27 1 19 24 20   11 121
Apr-12 60 23 0 17 20 14   16 108
May-12 55 23 0 16 16 13 14 15 91
Jun-12 55 24 0 15 16 20 14 16 41
Jul-12 58 29 0 18 11 20 10 9 132
Aug-12 54 28 1 16 9 18 9 20 97
Sep-12 50 25 1 15 9 8 9 7 91
TOTALS               129  
AVERAGES           15     95

The large numbers of townhomes for the previous 6 month period were primarily due to the new construction completions at Asbury Circle and Meridian Square.

Pending data was not captured for all months.

 

 For my more visual readers:

Chart: Real Estate For Sale in Addison, Texas     Chart: Real Estate Sold in Addison, Texas

The total number of homes coming on the market is decreasing in Addison. The numbers of sold properties was increasing, but now as supply diminishes, the number of homes sold has dropped off dramatically in the past month. Prices will rise as demand decreases. This is great news for sellers, but low inventory leads to multiple offers and some buyers will come away without a house.

Rather than view Addison residential real estate as a roller coaster ride, I envision it as a bridge, or a straightaway on the roller coaster tracks. It links us from where we have been to where we are going.  That bridge is fairly level now, but as we round the bend into next year, I expect a modest hill ahead.

So if you do seek the wild ups and downs of a roller coaster, I recommend you head over to Addison Circle Park during one of the events Addison is known for (Taste Addison, Kaboom Town, Oktoberfest, etc) when the carnival comes to town.

 

 

real estate recovery
Riding the Trillion-Dollar Real Estate Recovery Roller Coaster.

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.     

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Rainmaker
444,686
Debbie Cook
Long & Foster Real Estate, Inc - Silver Spring, MD
Silver Spring and Takoma Park Maryland Real Estate

Great Post - Lots of info and stats - your market really is up and down!

Oct 06, 2012 05:18 AM #1
Rainmaker
1,297,786
Lorrie Semler, REALTOR® in the Dallas area. Call/text 972-416-3417
United Real Estate - Addison, TX
Real Service. Real Results. Real Estate

Debbie: Actually, our market has been pretty steady. With only 15,000 residents in Addison, Texas (and about 80% of those are in apartments), there just aren't many homes here.

Oct 07, 2012 05:43 AM #2
Rainmaker
1,094,503
Bob & Leilani Souza
Souza Realty 916.408.5500 - Roseville, CA
Greater Sacramento Area Homes, Land & Investments

Lorrie, I love your suggestion at the end about checking out Addison Circle Park for a wild roller coaster ride...since they won't find one in the local real estate market! :)

Leilani

Oct 07, 2012 07:02 PM #3
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Rainmaker
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Lorrie Semler, REALTOR® in the Dallas area. Call/text 972-416-3417

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