Market Conditions for North Dallas in Dallas, Texas
Reported by Jo Pressly, Vice President of Sales, Founding Member Elite 20 Marketing Group
Updated October 15, 2009.
Current Market Rating: 1
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Buyer's
Seller's
Current Price Trend: 2
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Falling
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The higher priced homes are not receiving much of any activity. Sales are strong under $600,000, very few closings over $1 million, many sales are non disclosed. interest rates are low again, good time to buy. Financing is difficult especially for non-conforming mortgages. Be sure to deal with a reputable Realtor and lender! Historically, the North Dallas market picks up after school starts and another wave of buyers make purchases! As of 10/1/09 activity has picked up as well as calls from prospects.
ZIP Codes: 75248, 75252, 75287 Approximate Location Boundaries: tollway to coit road, 635 north to Bush freeway
Location Characteristics: Many areas have large trees, excellent schools including exemplary private schools. Sales statistics show 20 to 30% drop in sales, but closed prices have shown a serious drop, many of which are non-disclosed in mls. Therefore, many homes on the market are over-priced for today's values. The majority of sales, per title company monthly report are still under $500,000. However, as of 10/1/09 the open houses are bringing in excellent traffic in higher price ranges, and there are some showings in last two weeks! Buyers who are actually going to buy!
