In previous issues, we talked about Area 41. If you remember, Southeast Denton County, in REALTOR® vernacular, is called Area 41.
Years and years ago, BC (that’s Before Computers), area REALTORS® organized the various real estate markets in the MetroPlex. In doing so, Southeast Denton County became Area 41. (See the map below.)
Roughly the boundaries are 35W on the west, south Denton (the city) on the north, Lake Lewisville on the east and Lake Grapevine on the south. Very rough, as you can see by following the purple line.
We have tracked the sales in this area for the first 3 months of this year and years past and wanted to share those numbers with you as a gauge of the current market forces.
As you can see, sales are up about 25% this year compared to last year while average prices are down about 4%. The 2012 1st quarter sales are about 30% below the peak in 2007. The stats further reveal that about half of the sales (297) were over $200,000.
It’s estimated that about 1/4 of the sales were to investors. Lots of cash sales in this market especially below $100,000.
Regarding the remainder of this year, we believe that motivated buyers and sellers will still be transacting real estate. As they say, all real estate is local so your situation will be unique. Please allow us to assist you in accomplishing your real estate goals. Let us know how we can help.
If you would like stats on other areas please contact us today.