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Full Disclosure on Foreclosures – Q4 Results


As you know I post area sales data by month on the left sidebar.  This month also included a nice surprise, that is if you follow foreclosure activity.  It details how foreclosures have affected our area.  The detailed report is put together by the Collin County Realtors® Association, a big thank you.

It’s no surprise the last two years have seen a spike in foreclosure activity – more than doubled in two years, see chart.  In the MLS, Foreclosures are separated by “seller type” under most circumstances a typical “seller type” would be owner.  The information is accumulated under the foreclosure category and viola – results give us a look into the Dallas foreclosure market.

At a glance, foreclosures have grown quickly but are sold just as fast. The share of home sales have exceeded the new listings so as soon as we work through the foreclosures a typical market will return. AMEN!

A few interesting facts:

  • Thanks to foreclosure sales that are stronger than foreclosure listings, the total inventory of foreclosures has dropped in the past year by almost 300 units.
  • Foreclosures have a higher market share in the single family detached segment than they do in the town house condo attached segment.
  • The growing number of foreclosure sales is dragging the overall median price down slightly, but the traditional market that excludes foreclosures is fairing better than the overall numbers suggest. Q4 median sales price is $59. a sq ft.
  • There’s a direct relationship between price range and lender-mediated activity. The more affordable the market segment, the more common foreclosures become. 14% of foreclosures are under 149,000K.

So – Where are the most foreclosures by area – take a look it’s all here. If you’d like sales by area for 2008 fill out the form below and a report will be emailed shortly, probably within 24 hours.

About Terry W. Smith

Passionate about real estate, positive problem solver, specialty boutique real estate brokerage that does things your way! A full-time Broker & REALTOR®, helping people buy and sell homes in the Dallas - Plano area. Whether you're a buyer just starting out or someone with luxury properties to sell. I have extensive knowledge and experience to help you with your real estate transaction. I am a native Dallasite & know stuff, ask me...

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  1. […] though there are some great deals on Texas foreclosures, most of my clients are hesitant to explore that option due to the amount of repairs and initial […]

  2. […] though there are some great deals on Texas foreclosures, most of my clients are hesitant to explore that option due to the amount of repairs and initial […]

  3. […] though there are some great deals on Texas foreclosures, most of my clients are hesitant to explore that option due to the amount of repairs and initial […]

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