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Dallas MLS Area 12 sales remain slow, YTD numbers improve for 2nd straight month. #p #in
Last Update: 2011-08-15 18:51:05
Last month the data told us the buyers market rolls on, and on, and on. This month, July 2011, more of the same. July is not the best month for guaging the strenght of the market due to vacations and other factors, however, the drive to get moved before school start is in play.
The 6 month trend of MLS reported monthly sales for east Dallas (area 12) as the lowest total since at least 2007 is broker. Nevertheless, July 2011 sales beat ONLY July 2010. Year to date numbers improved! Sales (think buyers) are down only 8% and listings (think sellers) are up only 2% over 2010. This is the second straight month that the YTD numbers improved. In July there were 281 new listings and only 168 sales.
As always (of late), expect offers to be soft. Properties not priced right are likely to go without showings and offers unless they're truly unique. As-is and needs repairs is OK if priced right. Dirty, unkept properties will sit unless there is a huge discount.
Remember, selling in this market is not the end of the world, so long as you buy back in -- you'll recover as much or more and mortgage rates are low. See my link to "5 Reasons to Consider Selling Now"
Here is the year-to-year comparison by month:
Here is the sales trend:
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