Local Sales Report
Note
The following information was amassed from the North Texas Real Estate Information System, which is the Multiple Listing Service ( MLS ) for our area.
These numbers are for pre-owned homes, and do not include new construction
While many areas of the country have experienced a large drop, in home prices, the prices in our area have remained fairly stable. There have been some drops in certain price ranges, and slight increases in other price ranges, with the result being a slight increase in the overall value. We have a large number of foreclosures that have been sold, and they have had an effect on current home values.
If you have any questions, please don't hesitate to ask us. E-mail or call us.
Note the following
The # of foreclosures sold, is included in the total number of pre-owned homes sold. The percentage represents the percentage of pre-owned homes sold, that were foreclosures.
Absorption time, is the amount of time it will take to sell all the properties, currently on the market. It is based upon the rate properties have sold for the last 6 months. It does not mean all properties will take that long to sell. Different neighborhoods, and individual homes will differ. But it does indicate that the market has moved to the buyer's side.
July/08 July/07 YTD/08 YTD/07 All/07
DESOTO
Total pre-owned sales 69 88 519 470 848
# foreclosures sold 50 (72.5%) 56 (63.6%) 408 (78.6%) 307 (65.3%) 565 (66.6%)
Absorption time 5.4 months
DUNCANVILLE
Total pre-owned sales 59 74 356 416 663
# foreclosures sold 36 (61%) 29 (39.2%) 210 (59%) 164 (39.4%) 281(42.5)
Absorption time 7.2 months
CEDAR HILL
Total pre-owned sales 57 93 373 473 755
# foreclosures sold 34 (59.6%) 49 (52.7%) 238 (63.8%) 268 (56.7%) 473(59.5%)
Absorption time 7.3 months
LANCASTER
Total pre-owned sales 44 40 271 281 474
# foreclosures sold 38 (86.4%) 30 (75%) 221 (81.5%) 187 (66.5%) 317 (66.9%)
Absorption time 5.7 months
MIDLOTHIAN
Total pre-owned sales 39 46 246 204 378
# foreclosures sold 13 (33.3%) 9 (19.6%) 88 (35.8%) 51 (25%) 102(27%)
Absorption time 6.9 months
RED OAK
Total pre-owned sales 25 27 161 146 233
# foreclosures sold 11 (44%) 8 (29.6%) 73 (45.3%) 35 (24 %) 66(28.3%)
Absorption time 6.1 months
WAXAHACHIE
Total pre-owned sales 24 29 195 229 377
# foreclosures sold 6 (25 %) 11 (37.9%) 66 (33.8%) 69 (30.1%) 114(30.2%)
Absorption time 7.9 months