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

Allen TX reported 77 home sales for the month of November 2009. These numbers include single-family homes, condos, duplexes and townhomes. Year-To-Date, Allen TX sold 1,221 homes and in 2008, Allex TX sold 1,393. For the year, Allen TX is down 12% from the previous year. * Note: The data below is considered accurate for all real estate in Allen TX encompassing MLS areas 51 (city of Allen with Allen ISD) and 52 (city of Allen with Lovejoy ISD) on the local NTREIS MLS data.

January: 65 Allen TX homes SOLD
February: 71 Allen TX homes SOLD
March: 107 Allen TX homes SOLD
April: 116 Allen TX homes SOLD
May: 102 Allen TX homes SOLD
June: 165 Allen TX homes SOLD
July:  132 Allen TX homes SOLD
August: 123 Allen TX homes SOLD
September: 131 Allen TX homes SOLD
October: 132 Allen TX homes SOLD

November 2009: 77 Allen TX sold homes
for  $14,788,930
 

   Allen TX November 2009 Homes Sales Market Summary:  

For the few months, Allen have continued to seen small market improvements prior to November. However, November 2009, Allen TX only sold 77 homes - almost 41% less than the prior month (October 2009). But when you compare to the same time previous year, Allen TX sold 3 more homes this year (2009) than last. The biggest shocker is that there are NO sales activity over $500K and up. Pending contracts in the starter prices also dropped by more than half of its previous month's volume.

The average home in Allen Texas is 4-bedrooms, 3 bathrooms, 2,300 square feet and sold for $192,000 in 67 days on the market.

The lowest priced home sold for $68,000 (2-bedrooms, 1-bathroom property, over 1,000 square feet) in East Allen TX 75002. It is a foreclosure Freddie Mac home. It took 186 days to sell.

The highest priced home sold for $495,500 (6-bedroom, 5-bathrooms, over 4,500 square feet) in Waterford Parks Allen TX 75013. Its backyard sold the home. The previous owner spent over $125K on the custom designed pool and stone-column free standing pavilion. Pool includes waterfall, spa, swim up bar and underwater seating. It took 59 days to sell.
 

Currently, Allen TX has 383 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 21.5 weeks (over 5 months) to clear all the current inventory. Based on the market absorption rate, Allex TX is in a NEUTRAL market ie. not a Buyer's or Seller's market.

Comparison:

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. Most homes - if priced correctly sells 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 in-depth analysis is your domain, check out the breakdown of price ranges of the Allen TX home activities:
DOM is number of days the house is on the market.
Market Data is deemed correct as of 11/30/2009.

Less than $100,000:
SOLD = 5 homes (106 days on market, $67/sq.ft.)
Under Contract = 3 homes; DOM = 53 days
AVAILABLE = 11 Homes; DOM = 108 days

$100,001 - $200,000:
SOLD = 50 homes (54 days on market, $82/sq.ft.)
Under Contract = 37 homes; DOM = 79 days
AVAILABLE = 101 Homes DOM = 83 days

$200,001 - $300,000:
SOLD = 16 homes (68 days on market, $84/sq.ft.)
Under Contract = 17 homes; DOM = 87 days
AVAILABLE = 83 Homes DOM = 90 days

$300,001 - $400,000:
SOLD = 3 homes (117 days on market, $96/sq.ft.)
Under Contract = 11 homes; DOM = 126
AVAILABLE = 53 Homes DOM = 129 days

$400,001 - $500,000:
SOLD = 3 homes (154 days on market, $109/sq.ft.)
Under Contract = 10 homes; DOM = 105 days
AVAILABLE = 40 Homes DOM = 116 days

$500,001 - $600,000:
SOLD = NONE
Under Contract = 1 home; DOM = 56 days
AVAILABLE = 13 Homes DOM = 92 days

$600,001 - $700,000:
SOLD = NONE
Under Contract = 3 homes; DOM = 70 days
AVAILABLE = 9 Homes DOM = 154 days

$700,001 - $800,000:
SOLD = NONE
Under Contract = 1 home; DOM = 225 days
AVAILABLE = 9 Homes DOM = 130 days

$800,001 - $900,000:
SOLD = NONE
Under Contract = NONE
AVAILABLE = 1 Home DOM = 142 days

$900,001 - $1,000,000:
SOLD = NONE
Under Contract = NONE
AVAILABLE = 1 Home; DOM = 143 days

Over $1 Million:
SOLD = NONE
Under Contract =NONE
AVAILABLE = 5 Homes; DOM = 208 days

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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