This Month's Statistics in Cities of North Dallas!

Below is a link to the Statistics for most of our areas and cities in North Dallas. The numbers of houses sold are down in Plano with 89 houses less than this time last year. But notice the average sales price......we are higher this month and a little higher for the whole year which is good! But the pendings and option contracts are down and the inventory is higher which means there is more competition out there for sellers to grab those few buyers.

The article in the Dallas Morning News for November 16th is suggesting that our prices are going to begin to fall in our area. I have not seen that in our local statistics but do know some areas and neighborhoods have not kept their values. Will this make more buyers to get out and try to buy or make them wait until the "bottom" comes! You never know when the bottom is until it begins to climb upwards!

Talked to a lady who had her house on the market for the last 7 months and had not sold and I suggested she was too high. She said they needed the money. But what you want and what the market gives you are not always the same! Since I told her how "flat" our prices had been, I decided I had to prove it which I did. Went back 4 years earlier when she bought the house and the average price of sold homes in Plano was $264,669 and the average price this October, 2010 is $265,981! Wow, not much change! So how can you get $15,000 more out of the house with no escalation in value?

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