What is going on in West Allen Regarding Home Sales?

All information below was taken from NTREIS, and is believed to be accurate. It was pulled up on May 27, 2008 and includes all properties in zip code 75013, and all activity since January 1, 2008. It includes preowned homes as well as new construction.

There are currently 337 active listings in West Allen (up from 334 in March), with an average list price of $418,362, and average list price per foot of $114. They are staying on the market an average of 95 days.

Good news! There are currently 90 homes under contract in West Allen! This is up from 52 homes under contract in March.

There have been 209 sales in West Allen so far in 2008. The average sales price is $358,749, and the average price per foot is $104. The average days on market for 2008 is 109.

Things are looking up! When I did statistics for January and February 2008, there was an approximate 10 - 11 month absorption rate of inventory in West Allen. As of today, there is an approx. 6 - 7 month supply of inventory. Remember, our prices won't start going up again consistantly, until we get rid of our current inventory. I still like to see a 3 - 4 month supply of inventory, but we are going in the right direction. And we still have 3 good months left of our selling season.

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 subdivision. For more specific information on your neighborhood and home, please contact me, Michelle Musick Jones, the #1 Coldwell Banker agent in Collin COunty, as well as the #1 agent for preowned listings sold in all of West Allen. I get results, and I know the market. Go to westalleninfo.com or contact me at 972.731.1222.

West Allen Activity January, February 2008

All information below was taken from NTREIS, and is believed to be accurate. It was pulled up on March 11, 2008. It includes all properties in zip code 75013.

There are currently 334 active listings in West Allen, with the average list price $417,991, and the average list price per foot $115.

There are currently 52 homes under contract.

There have been 72 sales so far in 2008 in January and February. The average sales price is $341,224 and the average price per foot is $104.The average days on market in 2008 is 100.

There is an approx. 10 - 11 month absorption rate of inventory in West Allen. I like to see a 3 -4 month absorption rate. Basic economics tells me that homes prices will not be on the upswing until the absorption rate goes down. The good news is, we are coming on our busiest months of the year for real estate sales.

For specific information on your neighborhood and home, please contact me, Michelle Musick Jones, the #1 agent for Coldwell Banker in Collin County as well as the #1 agent for preowned listings sold in all of West Allen. I get results, and I know the market. Go to westalleninfo.com or contact me at 972.731.1222.