Market Conditions in 75229>Question Details

Observer, Home Seller in 75229

What is the current average days on maket North Dallas Jan 2012?

Asked by Observer, 75229 Thu Mar 15, 2012

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7
T.E. Sumner’s answer
In our marketing area we call North Dallas (from Northwest north to LBJ and from Central west to Midway) there were 572 listings of which 33 sold in January 2012.
In the under-$265k range average 133 days on market (20-276) (9 sold 119 listed) 6 months supply
In the $265-500k range average 98 days on market (9-229) (13 sold 140 listed) 6 months supply
In the $500-950k range average 88 days on market (13-246) (5 sold 143 listed) 8 months supply and
In the over-$950k range average 123 days on market (9-333) (6 sold 170 listed) 12 months supply.


You can get similar statistical data from my website by email. Just visit http://www.DallasHomeValueReport.info
0 votes Thank Flag Link Thu Mar 15, 2012
Great Question! It looks like you also got some great answers as well. As indicated by other realtors the days on market depends on many factors. You can use a general rule but if you need some specifics then you need to know the neighborhood, home requirements, ect. Some homes sell faster than others because of the condition they are in, the price that they offered at, and the location. A realtor can run you a specific CMA for an area and help you with defining how much time homes are selling for in a specific area..

Days on market can fluctuate greatly because of the time of the year as well. Again, a realtor can give ou specific information that would show you the best selling time in a specific area. Of course with that said there are homes that do not sell because of how they are marketed, staged, priced, and many other factors. Sounds kind of confusing doesn't it. Just like anything you have to know the statistics to come up with great information. If you need any additonal help please let me know and I will be happy to assist you..
0 votes Thank Flag Link Thu Mar 15, 2012
Check out http://www.DFWSnapshot.com that can allow you to look for a specific zip code.
You can also look at reports from NTREIS... at http://www.ntreis.net/documents/NTREISSTATS_123201211010.pdf

You can also look at stats from TAMU at http://recenter.tamu.edu/mls/ntreis/

Hopefully this gives you an idea of what you need.
0 votes Thank Flag Link Thu Mar 15, 2012
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
Contact
According the Multiple Listing Service the North Dallas area average days on the market (Feb - Mar 2012) is 128 days. If you would like any other areas let me know. The average days on market is actually going down.
0 votes Thank Flag Link Thu Mar 15, 2012
North Dallas is a big area - an average of the entire area is slightly useless. For accuracy you would also need to know the average for the same kind of home, same size home, built in the same era, with the same types of amenities, upgrades and updates, same kind of seller - arms length transaction v. distressed property, etc. A basic average of everything in a large area would be far too broad and far too skewed to be very useful.

However, with that said - the broad average for Areas 11, 16 and 18 (North Dallas) for single family homes sold in January was 94 days and for condos/townhomes was 96 days.
0 votes Thank Flag Link Thu Mar 15, 2012
North Dallas is such a huge area. If you can narrow down the zip code. Too many North Dallas could mean, Addison, Allen, Carrollton (side of Plano) Frisco , Mckinney, Plano

Asking for generic "DOM" gives a false impression to any home owner

Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
972-699-9111
http://www.lynn911.com
0 votes Thank Flag Link Thu Mar 15, 2012
About 110 days.

Call me and I'll be happy to run the comps for your particular type of property.

Beau Beasley
214 966-2100
beau@beaubeasleyhomes.com
0 votes Thank Flag Link Thu Mar 15, 2012
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