What Has Happened To The Mesquite Market
As a real estate broker who lives in Mesquite but works in Irving I have lost my feel for the Mesquite real estate market. I used to be able to say that if sales where down in north Texas they will at least be up in Mesquite. Mesquite has always been an affordable city to be able to buy a home in with decent schools but today that does not seem to translate into sales.
I watch the MLS monthly stats for sales across north Texas provided by NTREIS and the year end report for 2010 was truly a bad picture for Mesquite. While sales for all of north Texas was only down 6% in December (a nice turn around from the last nine months average of 25% down), in Mesquite it was down 50%? And for all of 2010 vs 2009 in north Texas sales ended up down 7% and in Mesquite .. it was down 15%.
I thought that maybe it is the average sales price in Mesquite of $80,000 to $90,000 that is the reason but when I looked at the whole MLS that price range was only down 8% for the year.
Mesquite is a great town that is close to Dallas if you want to communute. The schools are not tops but they are not bad either. There are some nice parks and they can be found throught the city. Streets are in great shape and there are more resurants than ever before. But something must be holding the buyers from looking at Mesquite.
Anyone have any idea what the problem is?