According to the Dallas Morning News Tuesday November 11, 2008 edition home sales were down 17% from a year ago as well as a fall in the median home price to $140,000. The good news is there are signs of the market is nearing the bottom Dr. James Gaines an economist with Texas A&M Real Estate Center said that “fortunately prices may hold nearly flat, even though home sales continue to decline.” Dr. Gaines goes on to mention how Texas is still one of the best housing markets in the country.
The even better news is that housing inventory has fallen to the lowest number since January 2006 (at the end of October Dallas had a 6-month supply of homes for sale which shows that the Dallas market has already stabilized. According to the Dallas Morning News article on average, it takes 82 days to sell home here. The magic number that we would all like to see if 72 days, but if you price your home correctly and you have staged and taken care of it will sell faster!
The good news is that buyer’s are starting to come back out…The election is over, we are coming to terms with the stock market volatility, and we are seeing gas prices below $2 a gallon! So, if you are thinking of selling then contact The Good Home Selling Team today and get free analysis of your home. There is no obligation.
If we list your home before December 7 we will discount our commission to 5%. Call us today!
Nick Good
Realtor
Keller Williams Realty
469 951 4193 cell
NickGood@kw.com
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