Park Cities and Vicinity Stats – what’s vicinity?

I know you have more on your mind than real estate stats right
now but this is for when you have time – it will be here.

If you’re from the area then you know Park Cities is
Highland Park and University Park, respectively.  And the
surrounding areas make up many neighborhoods,  for
this update we will look at these zip codes:

75205 – Highland Park
75225 – University Park
75229 – Park City Vicinity

These charts by Altos reveal some of the new raw data that’s
available to time the market.  Is that possible? Yes, especially
when you know and work the real estate market.  All charts
have the same parameters to compare median price for the
last 7 days activity and 90 day rolling average for the zip
codes 75205, 75225, 75229 in that order.

This above chart is for Highland Park, you can see median price
has dipped a little for the past 90 days, but very consistent.
The 7 day average is based on closed sales that has gone back
up since end of November, probably because this area had
a 24% increase in sales compared to 2006.

75225 is University Park and the neighbor of Highland Park.
The median price is lower but the 90 day rolling average has
been climbing.  You can see the price spurt go up and down
for the 7 day data but still remains above the 90 day line.

75229 is the area immediately surrounding the Park Cities.
See how the price drops considerably, $350K.  One reason is
because Dallas is the school district and not the coveted Highland Park,
exemplary school system.  This area enjoys all the same amenities
as the Park Cities except for the schools.  (private schools are close by)
Many neighborhoods are going through gentrification and
there are some great buys, the chart shows downward pressure
on pricing.  You might be able to find some builder, investor- speculation
deal gone bad and take advantage of the market conditions.