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MartiP. Moments |
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Dallas - Fort Worth TX Market is on Track...Posted at 8:09 PM on Jul. 18, 2008
Did you know 2007 was the 5th BEST YEAR in recorded real estate sales history? True. This is per the National Association of REALTORS®. They have kept statistics since 1952! 2008 is on track to be right up there. But, if you only relied on the media to give you the impression of real estate sales I'll bet you would have guessed a MUCH lower number. Over the fifty-six years of statistical history from NAR the average days on market are 171. That is why we used to take six month listings - it is past time to go back to that model. The median existing home price in 2007 fell less than 2% from the ALL TIME HIGHS set in 2005 and 2006! This is per Lawrence Yun, the NAR Chief Economist. So, once again, the media has not taken the time to do the research and proper comparisons when they report "real estate prices tumble" and other such headlines. All this being said - my theory is this: unless a prospective client must sell and can find the differentation necessary, I tell them not to list. Many a real estate practitioners will disagree with this and list a property well above market! It makes a difference in the professional you select and the comparables used in pricing a home. Recently our local press had something to brag about which accurately portrays the state of the local market. In case anyone has not told you, real estate is, and always has been, local. What is happening in Florida, Arizona and California, has nothing to do with what is happening in the Dallas - Fort Worth metroplex. In the DFW area everything and everyone is over the top. Attitudes. Economy. The third largest city in the state of Texas, Dallas, is at the epicenter of culture, education, the arts and sports in the Dallas-Ft. Worth-Arlington metro area. So, if you have big dreams for your family or a business, you should check out the real estate opportunities in this larger-than-life city. View more entries tagged with: Market, Strong, Dallas, Fort Worth, Frisco, Plano, Tx, Texas, Buyers, Sellers |
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