Real estate results are always behind so keeping track of current statistics helps you mark the trends. The two most asked questions when listing your home are:
How much can I get?
How long will it take to sell?
So, to answer the second question take a look at the chart below at the four quartiles.
What the heck is a quartile? It’s all sale price points of homes broken down into 4 median price brackets, most expensive, upper middle. lower middle and least expensive. The chart below is for all Dallas, this will give you an idea based on public data from last week of how things are trending…
Absorbed properties are possible sales, properties going on or off the market. Because Texas is a non disclosure state, sales data is not released publicly. The MLS is the best information source for comps and most accurate for home sales at this point in time. This info is invaluable if your thinking about putting your home on the market and want a guideline to go by. This can also be drill downed by zip codes for a more accurate account of time on market. Also add another 4 to 6 weeks for escrow to close and you’ll have a good idea of what to expect.
