Market Conditions in Dallas>Question Details

Mark, Home Seller in Boston, MA

What is the housing market like in the Oaklawn area? I am wanting to sell my 1br condo there?

Asked by Mark, Boston, MA Fri Jan 11, 2008

Have a 1BR 1B condo on 4402 Holland AVE. Would like to sell, but I am not sure. I am afraid of the current market.

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You have nothing to loss when you place a property on the market Holland is a great area for the Dallas market. If you price the condo correctly I don't believe you would have a problem on selling your property, just assured prior to listing that you have cleaned and packed up to allow more space to be shown, freshly painted you're competition is new construction in that area.
Web Reference: http://www.lynn911.com
0 votes Thank Flag Link Tue Jan 29, 2008
Hi again Mark,

I want to give you an update on the Oak Lawn condo market.

A two bedroom/two bath Condo on Rawlins that is a listing in my office has a signed active contract and a closing date will be set up today.

There are currently more residential construction sites in the area than ever before and as land becomes more scarce property values are rising with the influx of people moving to the area.

I am more than happy to help you.

Warm regards,
John D. Dean

johndean@ebby.com
Direct dial 214.734.4789
Web Reference: http://johndean.ebby.com
0 votes Thank Flag Link Fri Jan 18, 2008
To follow up on your question. Condo sales in Uptown (which would include your area) were up 1% in 2007 and the average sales price was up 18%. There are currently no condos for sale in your complex and there were 3 sales in 2007. The 'days on market' ranged from 50 to 306. That shows that price and condition are major factors. The good news is - there is currently no 'competition' in the complex.
Web Reference: http://www.LydiaPlayer.com
0 votes Thank Flag Link Fri Jan 18, 2008
There is a lot on the market in the area right now - but there are a lot of people looking in that area as well. If your unit is updated and shows well, you should be able to compete. The buyers are a little picky right now but there ARE buyers out there. Showings are up and interest rates are great. Look around on an MLS search (one on my site at http://www.LydiaPlayer.com) and check out the competition. I can send you a report which would give you an idea of the days on market and the price per sq ft that they are actually selling for.
Web Reference: http://www.LydiaPlayer.com
0 votes Thank Flag Link Fri Jan 18, 2008
Dallas is doing well for sellers and buyers. Listing in the Spring is always a good idea as there are more buyers out there looking. Email me if you wanna chat about the market. http://www.cliffdwellings.net

katrina
0 votes Thank Flag Link Mon Jan 14, 2008
Oaklawn and Uptown condo sales are still good. Especially for the less expensive 1bedrooms. Of course I have not seen your place, but my thought is that it should be in the $100,000 range or so. Potentially a little more depending on the condition. The good news is that there are normally very few places available in this price range, so there's not normally a lot of competition. It is much tougher at the higher end of the market in the $300-$400,000 range. Let me know if I can help.
Web Reference: http://www.teamlynn.com
0 votes Thank Flag Link Fri Jan 11, 2008
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
Contact
Hi Mark

The Dallas Morning News reported today that Dallas is the second best housing market in the nation with the average days on the market at 77. Denver has the lowest number of days on the market. I specialize in the Oak Lawn area and toured 9 properties today all over Oak Lawn.

There is no reason to fear the local Dallas market, now is a good time to sell as property values have risen and people are buying. For example, my one bedroom listing has had several showings this week with people relocating to Dallas.

Are you in the South End in Boston ? I lived in the South End for 11 years and have been back in Dallas for four years. Please contact me and allow me to prepare a free no obligation Comparative Market Analysis.

Direct dial 214.734.4789 or johndean@ebby.com
Web Reference: http://johndean.ebby.com
0 votes Thank Flag Link Fri Jan 11, 2008
Hi Mark, Is it currently rented? If yes and you're breaking even after HOA and all costs, then I would recommend that you hold on to it longer. The building your unit is in doesn't have any for sale or for lease but the immediate area has many 1-1 for sale ranging from 55K to 112K. The highest sale for a 1 bedroom unit sold for 116K after 5 months on the market and was located at the corner of Gilbert and Reagan.

Our market is not as bad as Boston (thank god)... it's fairly steady as Michelle said.
Web Reference: http://www.sumnerrealty.com
0 votes Thank Flag Link Fri Jan 11, 2008
Just looking at your numbers it looks like there's not many for sale in your complex. My best answer would be pretty elementary I guess. It depends on condition and your price. If its renovated for a 1 bedroom there your probably looking at about $115k- $120k and average about 60 -90 days on market there. Again this is just from what I know since I don't have all your info such as condition, floor location etc. It really just depends what you need to get for it and how fast.
Web Reference: http://www.CarlosDFW.com
0 votes Thank Flag Link Fri Jan 11, 2008
Hi Mark, I have to be completely honest with you. Our market (the Dallas market) is a fairly steady one. So many people are scared about all the news that they hear, but what they don't realize is that the news is on a national level. The east and west coasts are the hardest hit, and most of the news reports have nothing to do with Dallas. Now is a great time to buy or sell in Dallas, especially in Uptown or Downtown, please don't let the all the negative news stories pertaining to the country as a whole affect your decision to sell.

Hope this helps!

Michelle Hackney
972-380-7823
0 votes Thank Flag Link Fri Jan 11, 2008
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