Market Conditions for Southlake, Texas Reported by Ann Anker, REALTOR Updated February 10, 2012.

Current Market Rating: 3 1 2 3 4 5 Buyer's Seller's

Current Price Trend: 3 1 2 3 4 5 Falling Rising

Welcome to 2012! Good news for real estate in Southlake. Sales are up, revenue is up, average price per home is down slightly , inventory and days on market are down. 24 homes sold in January, an increase of 50% over same period last year. Total revenue up 39% $11,593,632 with average sales price at $483,068. down 8%. We began February with 209 homes available on the market, a 13% decrease from same period in 2011. Average days on market through January down 13% to 95 days.

449 homes sold in 2011, an increase of 8% over 2010. Total revenue from home sales was up 8% to $271,887,480. The average price per home sold was unchanged at $605,540 and median price was also unchanged at $519,900. Average number of days on the market was down 12% at 84 days. January began with 255 home available on the market, a 15% decrease from previous year.

Last 5 years and numbers of homes sold
2011 449
2010 416
2009 398
2008 461
2007 598

Review of 2011
449 homes sold, 8% increase
$271,887,480 total revenue/ homes sales, 8% increase
$605,540 average sales price, unchanged
$519.900 median sales price, unchanged
84 days on market, 12% decreae
255 available homes on market end of year, 15% decrease

In 2010 ,416 homes sold, an increase of 4% over same period in 2009. The total dollar volume through December , $251,395,872 increased 6%. The average sales price up 2% at $604,317 with the median sales price increasing 3% to $520,000. The average days on the market was 94 days, a decrease of 10% . Market is beginning to look like we have finally turned a corner to recovery in 2010.

2009 closed with 398 homes sold, a decrease of 18% over the same period 2008 with an average number of days on the market of 104, a 33% increase. The total sales volume for 2009 was $235,124,470, a decrease of 24% over 2008, with the average sales price actually decreasing 7% to $590,765. Listings up, sales down but the average sales price almost stable equals an unusual market.

Total number of homes sold in 2008 was 461 homes, a decrease of 19%. The average sales price for 2008 was $634,944, up slightly 3%, with a total dollar volume through December of $307,947,840. A good indicator of market improvement is the average days on the market. The average days on the market in 2008 was up 10% at 78days.

598 homes were sold in 2007, a slight decrease of 4% compared 2006, however the average price per home sold was $617,127, up 7% with total $$ spend in Southlake in 2007 was $369,041,946. An increase of 3%, pretty good for a "off year" in real estate. The good indicator of the market is Average Days on the Market; the DOM is 71 days, a increase of 15%, . With existing homes and new construction, the choice of homes available will delight new buyers. Great Market! Great Time!

ZIP Code: 76092

Location Characteristics: The quality of life in Southlake, Texas includes outstanding educational opportunities, panoramic parks, scenic land, and exceptional business climate make Southlake a great place to live. Southlake is home to residents and businesses that work together, investing their time, money and resources to build a community with a strong economy and a great sense of pride. Carroll Independent School District is the only 5A district and the largest in the State of Texas to earn the state's highest accountability rating of Exemplary. Southlake is conveniently located between Dallas and Fort Worth and offers extraordinary shopping, entertainment , healthcare facilities and much more.

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