Lake Ray Hubbard Real Estate Market Statistics for the snow ladden month of February are in and unfortunetly, the Market wasn't kind. Below are how the different cities fared compared to February 2010 ... But before you think of Doom & Gloom, you should know that despite the high number of foreclosures on the market, the average & median price of homes continue to increase in 2011! With that being said, it's important to remember that Pricing your House correctly from the get go is very important. If you price it higher than what it really should be at, you risk having it sit on the market for a long period of time, which unevidably leads to a lower sales price.
Unfortunetly for the City of Garland, the Real Estate market really felt the effect of the cold weather! The number of New Listings dropped significantly from last year with only 218 compared to the 302 that were listed last year. Then number of reported closed sales were also significantly down by 25.4%! With that being said, it makes sense that houses were on the market for 122 Days until a sale. A big culprit for this could be the weather and less people out looking to buy, but I think the real issue was that homes weren't price properly. As a matter of fact, Sellers Received an estonashing 89.1% from their Original List Price!
ROWLETT & SACHSE
Rowlett saw fewer "For Sale" signs in yards during February as the number of new listings were down by ~20% with only 94 houses going on the market compared to the 118 in 2010. Though houses were on the market an average of 96 days, 18% longer than last year, the number of reported closed sales were slightly up by 2%. Rowlett Sellers received ~91% of their Original List Price.
Like Garland, Rockwall experienced a very cold Real Estate market as well. There were 164 New Listings compared to 202 that were listed last year. Though houses were on the market for a crazy 158 days, which was a 48% increase from 2010, the number of reported closed sales rose by 6.5% ... BUT ... Sellers Received an estonashing 89.7% from their Original List Price!
Housing prices are and will continue to INCREASE as the beautiful Spring & Summer months approach. If you're thinking of selling your house and want it SOLD, remember that you need to get it right the 1st time with the Listing Price and it's Presentation. I'd love to work with you to create a plan to help you achieve your housing goals. Give me a call/email to set up an appointment.