Panther Creek Estates Frisco TX Homes for Sale - Year 2008 Real Estate (Residential) Market Housing Report Review.
2008 is behind us and it is time to report the Panther Creek Estates Frisco housing conditions. In January 2009, there are 20 homes available for sale at Panther Creek Estates. They start at $152,000 (a bank foreclosure property, intentionally priced to encourage multiple offers) to $417,000. At a glance, the houses are approximately 97 days on the market, though some were just listed while many of those listed are over 120 days (4 months) on the market. The average listing price per square feet at 97 days on the market is $79/square feet.
Below is the market snapshot of SOLD properties for Panther Creek Estates since January 2008 through December 31 2008:
Average* Days On Market (DOM) and its Price Per Square Feet:
Information provided is deemed reliable and taken from the North Texas Real Estate Information (Multiple Listing System) MLS Systems.
| PCE |
Jan |
Feb |
Mar |
Apr |
May |
Jun |
Jul |
Aug |
Sep |
Oct |
Nov |
Dec |
| Number of Sales |
8 |
1 |
9 |
10 |
13 |
9 |
12 |
10 |
2 |
11 |
8 |
8 |
| DOM |
126 |
63 |
83 |
64 |
65 |
79 |
58 |
72 |
59 |
47 |
78 |
55 |
| $/sq.ft. |
68 |
83 |
72 |
72 |
73 |
77 |
72 |
71 |
65 |
75 |
62 |
67 |
The Total real estate value of Panther Creek Estates during this period is $20,984,671 for 99 sales at an average of 70 days on the market not including real estate sales not listed on the MLS systems such as for sale by owners and home builders.
What to take away with the information above:
The average price per square feet as listed above is used only as an average. When there are too little data to support a good average such as February with 1 sale and September with 2 sales, note that the numbers may be skewed. In addition, if you really want to know your home's true value, you may need to speak to a neighborhood expert to perform a detailed market analysis of the property. An average is just that. An average. Whether your home would fall close to the average price really depends on your home's features and other surrounding factors.
When comparing to the same month last year (2007),
69 sold transactions (in 2007) - not including home builder sales and sales by owner not listed on MLS.
Average $80 per square feet at 96 days on market.
Total real estate value of $10,284,262 not including real estate sales not listed on the MLS systems such as for sale by owners and home builders.
The Absorption Rate* for Panther Creek Estates real estate market is approximately 16 weeks or approximately 4 months.
How To Digest These Information
The Absorption Rate is the time it takes to sell the available inventory at its present rate. Thus, it takes Panther Creek Estates - Frisco TX real estate approximately 4 months to sell its available inventory at its current rate.
It is important to note that PRICING is key when reading this report. In order to successfully sell your house, your biggest chance comes in 30 days or less. Also, the sooner you receive a contract to purchase on your house, the closer it would be to your listing price.
I have been asked pretty frequently from our fellow neighbors here at Panther Creek Estates if Now is a Good Time to sell? My honest answer has always been this. It is true that it is currently a very competitive market at Panther Creek Estates - Frisco TX. Find the answer within yourself. If there is an urgency to sell, then you ought to. If you do not have extenuating circumstances to hurry along, you might want to discuss with a local area expert about your home's value and to see if the timing is right. Unfortunately, there are many homes that sold as foreclosures in Panther Creek Estates. They have definitely affected current sellers. What is more important to note is that there are other options for homeowners before the foreclosure process. One of them is the short sale process.
In a short sale, sellers typically owe their lenders more money than what is owed on the property. Though this may still blemish the homeowner's credit, it is not as extensive as a foreclosure wreck. Not all real estate agents understand the thorough involvement in this process. Make sure, one that you hire can get the job done and help you move on.
When you are ready to sell, hire professional help. Every home has a story. Hence, you should market your home uniquely and different from your neighbor because their story would be different than yours. For more real estate news and Panther Creek Estates market conditions, please subscribe to my blog at: servingfrisco.com. I write many real estate posts relevant to our area.
I proudly serve and sell real estate in the northern suburb cities of the Dallas metroplex. If you are thinking about purchasing or selling your home in neighborhoods of Frisco, Plano, Dallas, McKinney, Allen, Little Elm, Prosper, Celina, Richardson, Dallas M-Streets, Dallas White Rock Lake area and other surrounding areas and more importantly, want to work with a local area expert, contact me immediately. I employ a systematic market approach in selling your home - an intentionally unique proposal that most real estate agents do not use. If you care to be on your way to a successful closing, contact me immediately to see how different my proposition will be.
This information is deemed correct for the Panther Creek Estates - Frisco TX real estate market as an entity. Each community and neighborhood has its own numbers, and average days on market. To find out about your specific information, please contact me for further details.
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Contact:
Loreena Yeo
Realtor®/ Broker of 3:16 team REALTY
loreena@loreenayeo.com
Copyright © 2008 by Loreena Yeo (3:16 team REALTY). An Overview Real Estate Market Report of Panther Creek Estates Frisco TX 2008.
The average sold price was $212,503 or $73/square feet.
April 2009 is a good judgement of the market activity with the "higher" than average sales report. The 4 homes sold in April were generally in the smaller square footage, hence skewing the typical average sales price.
A majority of sales in the Panther Creek Estates have been sold by banks who acquired them through the foreclosure process by failed real estate investors or home builders. Many of these homes are over 3,500 square feet, with open two-story family rooms, 5-bedrooms, 4 bath homes. These type floorplans have been selling well in the 4th Quarter of 2008 and 1st Quarter of 2009. Hence, you see the strong numbers in January through March.
