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North Dallas TX Homes for Sale - Summer 2008 Real Estate Report Card

By Loreena and Michael Yeo

Real Estate Broker/Owner with 3:16 team REALTY ~ Locally-owned Prosper TX Real Estate Co. #9001154

September 27, 2008 04:03 PM

North Dallas TX Real Estate Summer 2008 Real Estate (Residential) Housing Report from Memorial Day 05/26/08 through Labor Day 09/01/08. (North Dallas's busiest real estate season).

316 closed transactions (in 2008)

Lowest $65,000
Average 4 bedrooms, 3 bathrooms (either 3 full bathrooms, or 2 full with 1 half bath). 2,800 square feet at $342,000. DOM 81.
Highest 6 bedrooms, over 8,700 square feelt for $2.375 million dollars. It took 1,284 days to sell.
Total real estate value of $317,716,308 not including real estate sales not listed on the MLS systems such as for sale by owners and home builders.

Average DOM Breakdown and Average % of List Price received on Solds by Market time:
Information provided is deemed reliable and taken from the North Texas Real Estate Information MLS Systems.

	0-30 Days	31-60 Days	61-90 Days	91-120 Days	120+ Days
No. of Listings	124	61	49	25	57
Breakdown %	39.24	19.30	15.51	7.91	18.04

It is important to note that PRICING is key when reading this report. The highest success of selling your house also takes the least amount of time (30 days or less).

The Absorption Rate* for North Dallas TX real estate market is approximately 24 weeks.

*Absorption Rate is the time it takes to sell the available inventory at its present rate.

Note: However, given that we are heading towards the end of the year, it may take longer than 24 weeks. North Dallas TX's busiest real estate season is from April until August. It is a competitive market at North Dallas TX. Hence it is important that you choose to work with the realtor who knows these communities like none other. I employ a systematic market approach in selling your home - an intentionally unique proposal that most real estate agents do not use. If you care to be on your way to a successful closing, contact me immediately to see how different my proposition will be.

When comparing to the same time last year (Memorial Day 05/28/07 through Labor Day 09/03/07),

429 sold transactions (in 2007)

Lowest $76,000
Average 4 bedrooms, 3 bathrooms (either 3 full bathrooms, or 2 full with 1 half bath). 2,700 square feet at $345,000. DOM 55.
Highest 6 bedrooms, over 9,000 square feet for $2.5 million dollars. It took 1,419 days to sell.

I proudly serve and sell real estate in the northern suburb cities of the Dallas metroplex. If you are thinking about purchasing or selling your home in neighborhoods of Frisco, Plano, Dallas, McKinney, Allen, Little Elm, Prosper, Celina, Richardson, Dallas M-Streets, Dallas White Rock Lake area and other surrounding areas and more importantly, want to work with a local area expert, contact me immediately.

Much to your success...

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