Knowing when you are ready to sell includes understanding the turn over rate. The turn over rate is a look at the percentage of homes sold within a specified period of time for a particular area. It is one of several key numbers that can tell a story about where you live.
As a listing agent in Murphy I know that the turn over rate tells me something about the area's dynamics. On average most neighborhoods have a 10 maybe 20% turn over rate. A number greater than that can indicate a neighborhood of young residents that are more mobile than others. Or it could be an indication of the overall market such as the downturn we saw happen in 2008.
Let's take a look at the neighborhood of the Ranch, a D.R. Horton community located on the far north border of Murphy and east of N. Murphy Rd. This neighborhood has more than 550 single family homes. Many of them were built in the years during the real estate boom. For our example let's start with the year 2008. Overall that year started out well but was in the tank by year's end.
Turn Over Rate by Year:
- 2008 - 5.9%
- 2009 - 3.8%
Jump ahead to
- 2013 - 6.4%
These numbers represent that homes are being sold in the Ranch and they are up over the year of 2008 when things began to turn south. They indicate that it is a healthy real estate market. If you are ready to sell your home and would like to know more about your neighborhood in Murphy TX contact me here.
Comments(12)