I know with the media reports about the state of the economy many of us worry and wonder where things will stand next month or next year. I read an article the other day that suggested you write down your worries and then look back at them next month, or next year. It made me think – what was I worried about last month? Or last year?

This train of thought also made me wonder how the real estate market compares to a year ago. So, naturally I looked at the stats! For months now I have been stating that our real estate market is not in the dire-states that the media portrays – and wow - the stats reflect that!

Let’s look at the City of Allen:
In January 2008 there were 417 active listings.
In January 2009 there were 417 active listings.
(nope that is NOT a typo, the number is the same)

In January 2008 78 properties sold home resulting in the following stats:
Average Sq. Ft = 2,844
Average Bedrooms = 3
Average Baths = 2
Average List Price = $271,452
Average Sale Price = $263,151
Price per Sq Ft = $92
Average Days on Market = 109
Price range of homes = $95,999 - $999,000

In January 2009 50 properties sold home resulting in the following stats:
Average Sq. Ft = 2,770
Average Bedrooms = 3
Average Baths = 2
Average List Price = $246,172
Average Sale Price = $237,682
Price per Sq Ft = $85
Average Days on Market = 97
Price range of homes = $89,900 - $549,900

Yes, there are slight decreases in price per square foot and average list and sold price, but the days on market also decreased! So homes are selling quicker!

Call the Reechia Powell Realty Group and let’s review the facts and figures for your neighborhood.