Tim's November Four Points Area Real Estate Market Report

Tim’s Bullet Points

“FOUR POINTS”* Real Estate Market - November, 2011

• Activity is varying dramatically from one area neighborhood to another
• Overall, sales are up 19% over last year, month to month
• Sales for 2011 have already exceeded the entire year of 2010 by 8%
• Inventory is down 7% from last year, and is ideal, save price ranges over $800k
• Greenshores’ double dipped, down in 2009, up in 2010, and down in 2011
• Steiner Ranch is seeing the same double dip, but much less severe
• River Place’s inventory has been lower each month this year than last year.
• River Place’s sales have been higher each month this year over last year.
• River Place yearly sales are 50% above last year…Wow!
• Westminster Glen is already tripled sales from last year (last year was pretty bad)
• Long Canyon is on par with sales from last year (neither year has been good)
• Grandview (The Parke) will likely have its worst sales year on record
• Glenlake sales remain low for the 4^th straight year
• Click HERE for November's complete River North Area market report, complete with charts & inventory/sales graphs back to 2007.
• No sales (closings) above $800k last month
• Months of Inventory below $800k appears to be a “sellers” market on paper. Because inventory is so low, when demand increases, the odds of housing prices to increase noticeably is high. This is not the case for homes over $800k. i.e. this is a misleading stat!