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|
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:
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.
Riding the Trillion-Dollar Real Estate Recovery Roller Coaster.