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February 2010
Jay Myers REALTORKeller Williams Realty Dallas Metro NorthFlower Mound, TXWebsite: www.MyDentonCountyRealEstate.comemail: [email protected]: (972) 510-7800
Serving North Texas Buyers, Sellers and Investors Specializing in Denton County
http://www.mydentoncountyrealestate.com/mailto:[email protected]:[email protected]://www.mydentoncountyrealestate.com/8/9/2019 Denton County Real Estate Roundup February 2010
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REAL ESTATE STATISTICS ANALYSIS AND TRENDS FOR
DENTON COUNTY TEXASThe following statistics are gathered from the North Texas Real Estate InformationSystems (NTREIS) the information herein deemed reliable but not guaranteed.
This analysis is based solely on: Single Family Residences
Resale or Pre-Owned homes Denton County Based on a 1 or 2 Year Analysis
It Does NOT Include New Construction Condominiums Farms and Ranches Vacant Land
All interpretation and commentary is that of Jay Myers and not necessarily shared bythe National Association of REALTORS (NAR) the Texas Association of REALTORSor my brokerage Keller Williams Realty.
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0
200
400
600
800
1,000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec2008 415 553 636 665 841 843 864 800 649 532 403 479
2009 285 430 528 574 684 821 878 709 641 695 590 502
2010 302 375
Average SOLD Properties by Month
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0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000
180,000200,000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2008 157,400 159,000 170,500 160,000 168,000 170,000 171,850 184,450 169,400 165,872 157,000 165,000
2009 150,000 161,000 160,126 160,500 171,400 172,500 175,000 175,750 167,000 165,500 162,700 166,200
2010 166,250 168,250
Median Price for SOLD Properties by Month
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0
10
20
30
40
50
60
70
80
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec2008 77 73 70 66 62 62 60 60 69 67 68 70
2009 71 76 71 67 65 60 67 68 62 66 70 79
2010 74 67
Average Days on Market for SOLD Properties
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0
1000
2000
3000
4000
5000
6000
Homes For Sale vs. SOLD
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0
100
200
300
400
500
600
700
800
900
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec2008 581 661 671 803 842 817 826 676 539 453 404 361
2009 451 526 606 733 772 832 779 667 676 683 434 357
2010 500 577
Units Under Contract by Month
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145,000
150,000
155,000
160,000
165,000
170,000
175,000
180,000
185,000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2008 169,000 168,000 167,400 169,900 172,250 173,000 184,900 173,000 174,500 159,900 160,200 159,900
2009 162,450 164,900 169,430 175,000 174,500 179,095 175,000 175,000 169,000 165,000 167,900 171,500
2010 175,000 169,900
Median Under Contract Price
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0
10
20
30
40
50
60
70
80
90
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec2008 73 71 63 64 62 58 63 65 70 66 71 72
2009 71 74 64 66 62 67 66 68 65 70 79 82
2010 69 67
Average Days on Market Under Contract
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0
200
400
600
800
1,000
1,200
1,400
1,600
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2008 1,194 1,206 1,274 1,419 1,364 1,389 1,233 1,140 957 903 766 675
2009 1,023 1,011 1,279 1,301 1,209 1,331 1,264 1,191 1,047 970 755 637
2010 1,191 1,220
New Listings by Month
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155,000160,000
165,000
170,000
175,000180,000
185,000
190,000
195,000
200,000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2008 179,900 179,900 184,900 189,900 194,155 189,900 192,500 187,650 179,900 174,939 184,945 170,500
2009 188,000 199,500 197,900 192,500 199,900 197,000 189,000 189,900 184,900 185,000 189,900 173,500
2010 182,900 189,800
Median Price for New Listings
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0
1,000
2,000
3,000
4,000
5,000
6,000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2008 4,380 4,520 4,669 4,986 5,086 5,173 5,116 4,928 4,655 4,507 4,200 3,951
2009 4,027 4,124 4,516 4,792 4,873 5,016 4,986 4,905 4,728 4,525 4,040 3,781
2010 4,079 4,327
Number of Active For Sale Properties
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0
50,000
100,000
150,000
200,000
250,000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2008 180,000 184,900 189,900 194,900 199,900 200,000 207,000 205,000 199,967 199,900 199,900 199,000
2009 197,000 199,900 208,450 209,900 216,950 219,500 219,500 216,488 214,939 216,500 224,900 218,900
2010 205,958 203,500
Median Price for Actively Listed
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0
20
40
60
80100
120
140
160
180
200
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec2008 172 168 164 159 158 160 165 172 179 182 189 192
2009 184 179 172 166 162 159 159 158 157 156 159 154
2010 126 102
Average DOM for Actively Listed
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0
100
200
300
400
500
600
700
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec2008 486 464 431 461 460 473 502 554 512 620 520 586
2009 463 361 419 395 416 462 493 557 497 557 462 536
2010 472 370
Expired Listings by Month
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Jay Myers (972) 510-7800www.MyDentonCountyRealEstate.com
IN CLOSING:
I believe the only thing that is perfectly clear after looking at the statistics for February is that thereal estate market for Denton County is beginning to change.
With median prices for under contract properties down over $5,000, and sold properties medianprice only increasing $2,000 these are numbers I dont believe anyone expected to see while the tax
credit was still in effect, even for the winter month of February.
I have talked a lot, and I mean a lot about the first time home buyer tax credit and its expiration on
my site, with my clients, and those who call me with questions. I am sticking with my earlier opinionor prediction that I expect to see prices fall by up to 3% by mid to late summer; which will be most ofthe appreciation in values we have seen in the last year and a half.
SELLERSIt is always important for sellers to pricetheir properties appropriately. Do notchase the market, or wait for themarket to catch up to you when itcomes to setting a price if you areserious about selling.
BUYERSIt is equally important for buyers to notbelieve they can come in and low-ball ahouse with a offer 10% less than the market
suggest, not the seller or their agent.
Work with an agent that tells you what you need to hear, not what you want to hear.
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