Thursday, March 12, 2009

West Allen Tx 75013 February 2009 Statistics





All information and graphs in this blog were taken from Trendgraphix Facts and Trends, as reported to Coldwell Banker Residenial Brokerage. This includes all activity in zip code 75013 through February 2009 and is believed to be correct.

There are currently 261 active listings in West Allen (Up from 232 in January), with an average list price of $400,000. Fifteen homes closed in February at an average price of $258,000.








Sale pendings: Fifteen homes went pending in Feburary. This is down from 51 pendings in February 2008. This is down a whopping 61% from the same time last year.





The average sales price per foot in 75013 is $86. This is also down from $103 per foot in February 2008. The average days on market is 114 days. This is down from January 2009 (147) but up from a year ago. February 2008, the average days on market 103.




As of the end of February, there was a 17.4 month supply of inventory in west Allen. This is a number we do not like! A 5 month supply of inventory is what we like to see, this balances out the number of buyers and sellers in the market place.

What does this mean? There is definately more inventory on the market than we like to see. Prices will not go back up until we get rid of the inventory and have more buyers than inventory on the market. YOUR HOME NEEDS TO STAND OUT ABOVE THE CROWD!

On the positive side: We are coming into our busy selling season. Showing activity has picked up, buyers are out looking. Interest rates are at an all time low. There is an $8000 tax credit for any first time home buyer (Or home buyer that has not purchased a home in the last 3 years.) But, your property has to be priced correctly, and has to have market exposure.

Remember, these are statistics for west Allen in general. To determine a fair market value on your home, we need to look at your particular home and subbdivision. Give us a call if you would like for us to come out and evaluate your home - free of charge.

The Michelle Musick Jones Team sells more homes in west Allen than anyone else. Go to michellesellsallen.com and find out about my "Cutting Edge Marketing Plan".