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Dallas Housing Sales and Activity – May 2010

DFW Housing Activity

The housing sales for May 2010 increased for the third month in a row. Up 18% from a year ago. Another positive sign for our market. This summary report is compiled by Texas A & M Real Estate Center for NTREIS (Net-tris) our MLS that stands for North Texas Real Estate Information Systems.  It’s deemed reliable but not guaranteed.  I don’t think anything is guaranteed.

Most numbers are positive, median price up 2%, days on market is 73 which is 8% lower than last year. Active listings are down 2% and new listings are flat.  Pending sales are down 23% which means future sales activity will be down.  These numbers are for single family residential sales.

Real Estate is retail so it’s always a moving target, the market has been quieter but that could be because of the ending of the tax credit, holidays, school ending and summer vacations.  Mortgage applications have also been down.  Interests rates are at a 50 year low way under 5%. So despite the ending of the tax credit –  lower interest rates are providing a savings incentive, indeed.

As far as Plano (Area 20)  May results so far are below:

  • Sales: 254 units -5%
  • Average price: $251,403 +2%
  • Price per sq ft: $94.+3%
  • Days on Market: 57 +8%
  • Pending Sales: -33%
  • Months inventory: 5.3 -1%

I predict that due to low, low low rates and exceptional pricing opportunities buyers will be finding and making some great buys in the future market place.

Texas Cities are Poised Best for Recovery by Forbes

Best Cities for Recovery….

Dallas Real Estate

7. Dallas – Ft.Worth – The metroplex

Out of Forbes top ten cities to recover from recession the quickest, 40% are Texas cites. Take a look at the list.  You can read thearticle here at Forbes.  Dallas is number 7.  if you live here you can understand why. It will be one of the last southwest cities to grow tremendously just like other sun belt cities in the past.  It truly is a good place to be right now.

  1. Austin, Texas
  2. Fayetteville, Arkansas
  3. Boulder, Colorado
  4. Huntsville, Alabama
  5. San Antonio, Texas
  6. Mobile, Alabama
  7. Dallas/Ft. Worth, Texas
  8. Washington D.C./Arlington/Alexandria
  9. McAllen, Texas
  10. Seattle, Washington

It’s more expensive to live in Frisco

Median price for Dallas, Plano and Frisco

Here’s a birds-eye view of median price for Dallas, Plano and Frisco real estate. Dallas pricing is heading up, Plano has been very steady.  Frisco has come down a little and will probably come down more, (my opinion, of course.)

Lots of new building in Frisco has led to builders specials that got caught in the downturn.  Houses are newer in Frisco with the exception of Stonebriar which was built out the same time as West Plano, late 80’s and 90’s.

You could take advantage of builders inventory and foreclosures in Frisco and with the year coming to an end, I bet the builders and banks want this inventory off the books. Time to wheel and deal!