denton county real estate roundup january 2010

8/14/2019 Denton County Real Estate Roundup January 2010

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January 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/


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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.

Jay Myers (972) 510-7800www.MyDentonCountyRealEstate.com


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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 285 430 528 574 684 821 878 708 639 692 583 495

2010 275

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 150,000 161,000 160,126 160,500 171,400 172,500 175,000 175,625 167,250 165,500 162,500 165,900

2010 166,000

Median Price for SOLD Properties by Month



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0

10

20

30

40

50

60

70

80


2009 72 76 71 67 65 60 67 68 61 66 70 78

2010 73

Average Days on Market for SOLD Properties



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0

1000

2000

3000

4000

5000

6000

Homes For Sale vs. SOLD

4069 units



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0

20

40

60

80

100

120

140

160

180200

Average Days on Market



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0

100

200

300

400

500

600

700

800

900


2009 451 526 608 734 772 833 779 671 675 685 434 364

2010 456

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


2008 169,000 168,000 167,400 169,900 172,250 173,000 184,900 173,200 174,500 159,900 160,200 159,900

2009 162,900 165,900 168,950 175,000 174,500 179,190 174,900 175,000 169,900 165,000 167,250 172,500

2010 169,900

Median Under Contract Price



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0

10

20

30

40

50

60

70

80

90


2009 71 74 64 66 62 67 66 68 64 69 80 82

2010 68

Average Days on Market Under Contract



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0

200

400

600

800

1,000

1,200

1,400

1,600


2008 1,194 1,206 1,274 1,419 1,364 1,389 1,233 1,140 957 903 766 675

2009 1,023 1,013 1,279 1,301 1,209 1,330 1,266 1,191 1,047 969 755 638

2010 1,190

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


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 188,000 199,500 197,900 192,500 199,900 198,250 189,000 189,900 184,900 185,000 189,900 174,500

2010 184,964

Median Price for New Listings



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0

1,000

2,000

3,000

4,000

5,000

6,000


2008 4,380 4,519 4,668 4,985 5,085 5,172 5,115 4,927 4,654 4,506 4,199 3,950

2009 4,026 4,125 4,518 4,791 4,878 5,014 4,985 4,904 4,724 4,520 4,036 3,779

2010 4,069

Number of Active For Sale Properties



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0

50,000

100,000

150,000

200,000

250,000


2008 180,000 184,900 189,900 194,900 199,900 200,000 207,000 205,000 199,974 199,900 199,900 199,000

2009 197,250 199,900 209,000 209,900 217,664 219,900 219,900 216,950 215,000 218,450 224,900 219,900

2010 209,488

Median Price for Actively Listed



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0

20

40

60

80100

120

140

160

180

200


2009 183 178 170 164 160 157 156 153 150 148 148 140

2010 108

Average DOM for Actively Listed



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0

100

200

300

400

500

600

700


2009 463 360 420 394 416 462 493 556 498 554 461 536

2010 486

Expired Listings by Month



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0

1,000

2,000

3,000

4,000

5,000

6,000

Supply and Demand

Month Active



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IN CLOSING:

With only a 1% increase in active for sale properties from 2008.The Median Sold Price up over 5% for the past 12 months.The end of the $8,000 First Time Homebuyers Tax Credit.The end of the $6,500 Homeowners Tax CreditThe infamous double-dip effect with the looming of new

foreclosures and short-sale to flood the market.

It is my opinion that by May of 2010 we will see prices once again begin to fall, possibly as much as 2 -3%. I am not saying you should wait to buy, if you are a first timer the $8,000 is too great of aopportunity to pass up. You should be actively looking at homes, but I think the pickings are thinright now in Lewisville and Corinth 2 of my favorite first timer communities. But Little Elm is still hot,and still eligible for the USDA Guaranteed Loan program. But I am also one of the few agents outthere that says if you are not ready to buy due to financing, job security, relationship issues orperhaps having to settle for a house that may not be just right for you - it may be advantageous towait.

But you should not wait too long, if the "experts" are right we should start seeing interest rates riseby June or July, and would not be surprised to see them as high as 7% by this time next year.

denton county real estate roundup january 2010

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