More State of the Union, Twin Creeks information

Here is some additional information that was not sent out in my Twin Creeks Newsletter. By the way, if you do not receive my Twin Creeks Newsletter in the mail, please let me know at michellesellsdallas@gmail.com.

List price to sales price ratio: Even with this changing market we are in, the list price to sales price ratio has remained relatively consistant. The typical seller in Twin Creeks came 3% off of their final list price, once they receive an offer, in 2007. This is not to say that some sellers do not have to reduce their price in the first place to receive an offer. This statistic is based on FINAL SALES PRICE, not ORIGINAL SALES PRICE.

Days on market: My "State of the Union" report stated that the average days on market for 2007 was 115, and that was up from 82 in 2006. Remember, in 2006, the MLS did not show "Cumulative days on market", only current days on market with current listing agent. Also, the MLS only started showing "Cumulative days on market" in July of 2007, so those are not statistics for the entire year. So, that is one reason the days on market is higher in 2007 over 2006.

Good News: Even though we are only a few weeks into January, showing activity has already started to pick up in Twin Creeks. I have heard 2008 Dallas/Ft Worth real estate predictions that this will be a "good" year, it won't be a "great" year. (Remember it is an election year.)

If you read one of my previous blogs, you may remember that I mentioned that February is our "indicator" month. Twin Creeks relies on relocation buyers moving to town. February is typically that month where the relocation buyers start coming into town to interview, check out the area, etc. So, if we have a good showing month in February, we should have a good spring and summer selling period. I'll keep you informed........

Again, if you have any questions about the marketplace in twin Creeks, do not hesitate to email or call me: michellesellsdallas@gmail.com or (972)731-1222.