Home > Local Real Estate Markets > Allen TX July 2009 Housing Market Report

Allen TX reported 107 home sales for the month of August 2009. These numbers include single-family homes, condos, duplexes and townhomes. Up to 08/31/2009, 790 homes sold in Allen Texas for the year. When compared to the same time last year, Allen TX sold 1,007 homes for the same period in 2008. The numbers are down 22%.

* Note: The data below is considered accurate for all real estate in Allen TX encompassing MLS areas 51 (city of Allen) on the local NTREIS MLS data.

January: 58 Allen TX homes SOLD
February: 61 Allen TX homes SOLD
March: 100 Allen TX homes SOLD
April: 107 Allen TX homes SOLD
May: 94 Allen TX homes SOLD
June: 146 Allen TX homes SOLD
July:  115 Allen TX homes SOLD

August 2009: 107 Allen TX sold homes
for  $25,020,807
 

The average home in Allen Texas is 4-bedrooms, 3 bathrooms, just over 2,600 square feet and sold for $232,000 in 81 days on the market.

The lowest priced home sold for $90,000 (3-bedrooms, 2-bathroom property, 1,500 square feet) in East Allen TX 75002. It is HUD home.

The most expensive priced home sold for $750,000 (6-bedroom, 7 bathrooms, over 6,400 square feet) in Twin Creeks - Lexington Allen TX 75013. It is a custom Sanders built custom home located with a backyard that overlooks the 15th hold on the golf course. It took 140 days to sell.
 

It is important to study the days on market for the homes sold. As a buyer, you will understand the "limits" of your negotiation power in general and as a seller, it is important to know the pricing correctly gives you the greatest chance to sell your home.

Almost half of the properties that Sold in Allen TX sell within 30 days after it came on the market. By far, this is also the time frame where statically speaking, you have the highest chances to sell your home - if it is priced correct to begin with.

The breakdown of the price ranges are as follows:
DOM is number of days the house is on the market.

Less than $100,000:
SOLD = 3 homes (28 days on market, $62/sq.ft.)
Under Contract = 1 homes; DOM = 6 days
AVAILABLE = 12 Homes; DOM = 75 days

$100,001 - $200,000:
SOLD = 57 homes (74 days on market, $82/sq.ft.)
Under Contract = 17 homes; DOM = 69 days
AVAILABLE = 103 Homes DOM = 111 days

$200,001 - $300,000:
SOLD = 25 homes (25 days on market, $84/sq.ft.)
Under Contract = 12 homes; DOM = 98 days
AVAILABLE = 69 Homes DOM = 99 days

$300,001 - $400,000:
SOLD = 14 homes (131 days on market, $88/sq.ft.)
Under Contract = 13 homes; DOM = 122
AVAILABLE = 49 Homes DOM = 97 days

$400,001 - $500,000:
SOLD = 5 homes (169 days on market, $102/sq.ft.)
Under Contract = 3 homes; DOM = 96 days
AVAILABLE = 68 Homes DOM = 89 days

$500,001 - $600,000:
SOLD = 1 homes (42 days on market, $82/sq.ft.)
Under Contract = 6 homes; DOM = 88 days
AVAILABLE = 11 Homes DOM = 99 days

$600,001 - $700,000:
SOLD = 1 home (54 days on market, $162/sq.ft.)
Under Contract = NONE
AVAILABLE = 12 Homes DOM = 142 days

$700,001 - $800,000:
SOLD = 2 homes (72 days on market, $136/sq.ft.)
Under Contract = NONE
AVAILABLE = 6 Homes DOM = 130 days

$800,001 - $900,000:
SOLD = None
Under Contract = 1 home; DOM = 97
AVAILABLE = 1 Home DOM = 54 days

$900,001 - $1,000,000:
SOLD = None
Under Contract = 1 home; DOM = 137
AVAILABLE = 2 Homes; DOM = 51 days

Over $1 Million:
SOLD = None
Under Contract = None
AVAILABLE = 5Homes; DOM = 167 days

Real Estate Commentaries based on the above market data:

Currently, Allen TX has 382 homes available for sale. The biggest market movers are the $100K - $200K price group, then followed by $200K - $300K group. The higher price ranges are staying on the market longer. Hence, that is the type of market to expect from such price ranges.

The Allen TX home market inventory levels are similar to previous months.  The inventory levels are stable and nothing out of the ordinary. Based on the current sold and inventory level, it will take approximately 15 weeks (almost 4 months) to clear all the current inventory.

It is our goal to empower you to become a more educated real estate consumer, especially in the Allen TX Home communities. Information is power in real estate in negotiations.

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