Home > Local Real Estate Markets > Panther Creek Estates Home Market Report for 3rd Quarter 2009

Panther Creek Estates - the master planned community of North Frisco closed out a successful 3rd Quarter in 2009. From July 1st to September 30th, Panther Creek Estates sold 18 homes. They range from low $155,000 to $256,000.

The average sold price was $212,503 or $73/square feet.
The average house is a 4 bedroom, 3 bathroom and just over 3,000 square feet.

The lowest priced home was 1,800 square feet with 3-bedrooms and 2 bathrooms for $155,000. It sold in 6 days - a bank-owned foreclosure property.

The most expensive home was 4,300 square feet with 6-bedrooms and 4 bathrooms for $256,00. It took 94 days to sell. This home features granite counter tops, kitchen island, tumbled-stone kitchen backsplash, stainless steel appliances, gameroom and media room.

About 45% of the SOLD homes sold in 30 days or less - which really notes the importance of selling a home successfully really only occurs in the first 30 days. 10% of the homes sold between 31-60 days, another 10% sold within 60-90days while the remaining balance, sold their homes after 90 days.

The foreclosure inventory which has affected the home sale prices at Panther Creek Estates are slowly swindling. This is a good sign for homeowners who may be ready to sell. The market drivers are especially the single-story homes where many homeowners did receive fair market value for their sale. Again, the key is pricing your home correctly. Not listing it too high where it will not sell while not listing it too low where you could be giving your property away.

At the time of this publication (early October 2009), there are 19 homes for sale in Panther Creek Estates. It ranged from $154,900 to $375,000. 12 properties are pending sale. At the rate the properties are selling at Panther Creek Estates, it would take approximately 5 months to clear the current inventory, which in real estate terms is called the absorption rate.

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