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Kristin Sohn's Blog

By Kristin Sohn | Agent in Prosper, TX

How's The Market Doing?- April 2013 Statistics

The real estate market is still improving, but we are still showing to be in a sellers market with an average of 2.7 months supply of inventory. (Anything under 6 is a sellers market, 6 is a balance market, anything above 6 is a buyers market) The inventory of homes for sale has decreased by 32.6%. The average days on the market is 45 and has decreased by 29.7%. Below are the specific statistics for the different cities.

Allen:
Months Supply of Inventory: 1.8 Decrease by 49%
Average Days on Market: 34 Decrease by 34.4%
Average Sales Price: $278,741 Increase by 9.3%

*As you can see Allen has an even lower month supply of inventory then the overall market. We need more sellers!

Aubrey/Pilot Point:
Months Supply of Inventory: 4.2 Decreased by 41.8%
Average Days on Market: 56 Decreased by 33.4%
Average Sales Price: $212,123 Increased by 31.9%

*As you can see the area farther out North like Aubrey is becoming more popular and the sales prices is already showing to be increasing at a good rate. Just give it a couple more years and you will be able to really make some money on your home out there.

Carrollton/Farmers Branch:
Months Supply of Inventory: 2.4 Decreased by 42.1%
Average Days on Market: 37 Decreased by 38.1%
Average Sales Price: $214,217 Increased by 12.4%

Frisco:
Months Supply of Inventory: 2.3 Decreased by 36.3%
Average Days on Market: 44 Decreased by 28.7%
Average Sales Price: $333,730 Increased by 8.1%

Little Elm:
Months Supply of Inventory: 2.9 Decreased by 38.1%
Average Days on Market: 44 Decreased by 44.1%
Average Sales Price: $214,393 Increased by 19.3%

*Little Elm average sales prices increasing by that amount, shows that the town is getting more established and popular. Remember you only have until September to purchase 0 Down USDA Loan until Little Elm no longer qualifies.

Mckinney:
Months Supply of Inventory: 2.3 Decreased by 43.3%
Average Days on Market: 38 Decreased by 31.2%
Average Sales Price: $255,438 Increased by 14.3%

Plano:
Months Supply of Inventory: 2.1 Decreased by 51.1%
Average Days on Market: 38 Decreased by 16.9%
Average Sales Price: $294,172 Increased by 5.7%

Prosper:
Months Supply of Inventory: 3.9 Decreased by 27.1%
Average Days on Market: 67 Decreased by 10.6%
Average Sales Price: $358,475 Increased by 17.6%

You can see the trend in all of these cities that the days on the market and months supply of inventory is decreasing which is good and the average sales price is increasing (which is what we all really want!).

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