Thursday, November 4, 2010

Best Home Buys Occur With Offers Made In November And December.

By Troy Corman, t2realestate.com

I often get the question, "is now a good time to buy?" Well, see for yourself. The chart below lists the historic monthly average sales prices and median sales prices on Dallas homes going back to 1990. As you can see, most of the lowest numbers occur in January, meaning buyers put in offers in November and December - since it normally takes about 30-45 days to close a home purchase from the executed contract date.

There are usually less buyers in the market during the last 2 months of the year due to holidays, vacations and travel. Often, sellers are happy to get a deal done before the end of the year so that they can start the New Year without the hassle. Ditto for bank-owned, foreclosed properties.

To reduce the likelihood and the accompanying heartache of another buyer scooping up "your" home, shop for homes while the competition is shopping in the malls. 

As you can see in the chart below, those ready to pull the trigger during November and December, on average, end up with the best deals of the year.

Date Sales Dollar
Volume
Average
Price
Median
Price
Total
Listings
Months
Inventory

Notes: Residential data includes single-family, townhouses and condominiums. "-" represents no or underreported data.
Source: MetroTex Association or Realtors and Real Estate Center. 

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1990-Jan1,172132,121,830112,70089,70018,06713.3
Feb1,035116,163,060112,20086,20018,70513.8
Mar1,732189,971,370109,70086,00019,26613.9
Apr1,551173,731,240112,00084,70019,72914.0
May1,598194,108,800121,50085,80019,69113.8
Jun1,619189,209,290116,90095,80022,86216.2
Jul1,823208,286,000114,30087,40019,59313.6
Aug1,731201,499,390116,40086,70018,58512.7
Sep1,356151,858,440112,00087,50022,05715.3
Oct1,303132,086,050101,40080,70021,45414.9
Nov1,303132,086,050101,40080,70021,45414.7
Dec1,305132,074,440101,20079,80019,29113.2
1991-Jan1,103117,769,010106,80080,50020,35614.0
Feb1,070105,758,16098,80089,70021,03314.4
Mar1,201137,022,090114,10083,20021,88715.5
Apr1,428175,272,720122,70084,50021,56715.4
May1,779221,041,000124,30087,80021,75615.3
Jun1,871212,358,500113,50086,90022,21015.4
Jul1,582194,190,500122,80090,00022,13215.6
Aug1,757194,904,010110,90087,20017,49312.3
Sep1,444168,731,400116,80084,50017,21212.0
Oct1,292140,453,320108,70080,50018,12412.7
Nov1,184136,586,240115,40084,20016,29611.5
Dec1,147135,300,120118,00091,20015,67411.2
1992-Jan965113,059,400117,20087,50016,64111.9
Feb1,231138,290,540112,30087,00017,03312.1
Mar1,812204,991,560113,10089,50017,62912.1
Apr1,833226,100,550123,40091,20018,07012.1
May1,821229,628,100126,10088,70018,11412.1
Jun1,950227,487,000116,70088,20018,02312.0
Jul1,878217,209,480115,70090,00017,94211.8
Aug1,757204,444,520116,40092,50017,61211.5
Sep1,632183,273,600112,30086,80017,20911.2
Oct1,699196,064,600115,40086,60016,57310.5
Nov1,540168,429,800109,40088,30015,7449.8
Dec1,624187,328,400115,40088,40013,9378.5
1993-Jan1,132124,735,080110,20086,20014,6278.8
Feb1,218138,084,660113,40085,10015,6359.4
Mar1,698190,006,200111,90088,50016,2889.9
Apr1,736217,069,440125,00090,80016,91510.3
May1,944229,003,200117,80092,80017,09810.4
Jun2,269293,835,500129,50095,50016,99310.1
Jul2,156281,228,640130,40095,60016,6929.8
Aug2,128252,827,680118,80092,20016,0579.3
Sep1,883227,861,830121,00091,30015,4578.8
Oct1,754217,460,920124,00093,50015,0318.6
Nov1,726208,362,720120,70092,60014,3318.1
Dec1,762206,347,820117,10092,40013,0587.3
1994-Jan1,206144,161,210119,50088,70014,0777.9
Feb1,371156,996,760114,50093,20014,7848.2
Mar2,229279,272,170125,30094,00015,2418.3
Apr2,246286,221,790127,40094,20015,7248.3
May2,343286,085,280122,10095,00015,7408.2
Jun2,315276,034,580119,20093,10015,7248.2
Jul2,263278,876,580123,20093,70015,6948.1
Aug2,306286,437,520124,20094,70015,3787.9
Sep1,907215,250,000112,90089,90014,9147.6
Oct1,738204,401,070117,60090,30014,6337.5
Nov1,580186,251,760117,90088,30014,0627.3
Dec1,495182,133,000121,80093,90012,8806.7
1995-Jan1,070132,669,000124,00086,50013,9217.3
Feb1,271154,054,000121,20090,90014,4937.6
Mar1,691211,271,849124,90088,80015,0928.1
Apr1,324159,879,000120,80092,10015,7478.9
May2,535314,981,707124,30092,00016,1729.0
Jun2,824349,839,675123,90098,70015,6958.6
Jul2,660340,956,633128,200101,00015,4648.3
Aug2,971370,681,254124,80097,70015,2477.9
Sep2,289282,251,712123,30095,20014,7837.6
Oct2,248275,173,583122,40093,50014,6857.4
Nov2,035253,731,196124,70095,80014,5967.2
Dec2,050254,516,978124,20095,40012,9706.2
1996-Jan1,581201,777,288127,60096,20014,5046.8
Feb2,009246,001,837122,40097,10015,0066.9
Mar2,519318,118,194126,300100,90015,5576.9
Apr2,812360,023,181128,00099,90015,8786.7
May3,088418,880,800135,600104,10015,3476.3
Jun2,908396,271,048136,300105,20016,2356.7
Jul3,108428,965,679138,000104,10015,7136.4
Aug2,989401,275,111134,300101,20015,2936.2
Sep2,419314,182,427129,900100,30015,1556.1
Oct2,310303,836,030131,500102,20014,9356.0
Nov2,181281,587,732129,100101,70014,7915.9
Dec2,204284,864,817129,200101,00012,9505.2
1997-Jan1,689217,018,295128,50095,90013,8935.5
Feb2,130274,369,933128,80099,20013,5515.4
Mar2,643359,987,238136,200104,20014,2975.6
Apr2,783389,254,579139,900105,30014,6785.8
May3,239458,474,482141,500108,10014,9235.9
Jun3,282463,200,685141,100108,80015,0945.8
Jul3,591501,922,413139,800110,60014,8765.7
Aug3,298468,218,334142,000109,00014,4305.5
Sep2,961405,949,601137,100109,10013,9975.2
Oct3,013421,352,841139,800108,60013,2964.8
Nov2,433333,893,261137,200106,90012,6434.6
Dec2,822407,340,189144,300113,90011,7954.2
1998-Jan2,103285,738,151135,900108,30012,1024.2
Feb2,567364,929,507142,200110,70012,1484.2
Mar3,427490,598,025143,200112,90012,3854.2
Apr3,549509,483,646143,600113,30012,5424.1
May3,847603,945,730157,000121,30012,8244.2
Jun4,297664,017,606154,500120,80012,9494.1
Jul4,234650,247,978153,600119,80012,9284.0
Aug3,794570,753,130150,400117,30013,2084.1
Sep3,060443,009,644144,800115,10013,1354.0
Oct3,193473,497,512148,300113,60012,9684.0
Nov2,856408,922,013143,200114,40012,1663.7
Dec3,124465,261,363148,900117,800--
1999-Jan2,149332,821,625154,900115,900--
Feb2,805424,465,117151,300119,400--
Mar3,801588,270,690154,800120,80013,2073.9
Apr3,782579,470,580153,200119,50013,8454.1
May4,096647,645,509158,100123,70014,3054.2
Jun4,644785,381,044169,100127,90014,7684.3
Jul4,307669,626,772155,500122,20014,8434.3
Aug4,128627,559,419152,000121,80014,5574.2
Sep3,671551,423,779150,200116,80014,3744.1
Oct3,236506,979,487156,700119,00014,1564.0
Nov3,227518,710,697160,700120,80013,3213.7
Dec3,353536,894,379160,100123,90012,7243.5
2000-Jan2,286375,389,865164,200124,40013,3163.7
Feb3,247555,124,812171,000127,70013,4953.7
Mar4,244702,148,377165,400128,50013,7523.7
Apr3,977667,331,427167,800132,00013,7523.7
May4,545783,197,806172,300137,10014,0183.7
Jun4,738846,254,912178,600138,80014,3923.8
Jul4,276763,793,916178,600139,60014,7053.9
Aug4,373770,735,708176,200134,50014,6073.9
Sep3,654643,046,932176,000136,00015,1094.0
Oct3,601626,302,634173,900134,60015,2124.0
Nov3,407589,401,171173,000133,20014,5653.8
Dec3,098554,774,879179,100138,70013,7623.6
2001-Jan2,542426,059,934167,600130,30014,9313.9
Feb3,257578,096,015177,500139,30015,3894.0
Mar4,306766,269,442178,000142,40016,0634.2
Apr3,976700,310,163176,100140,80017,0594.5
May4,633832,516,238179,700141,70017,8144.7
Jun5,065941,310,414185,800146,30018,3724.8
Jul4,745866,755,946182,700144,30018,7414.8
Aug4,603839,224,430182,300141,40018,5844.8
Sep3,551630,982,262177,700144,50018,9984.9
Oct3,449564,356,982163,600136,00019,4035.0
Nov3,373582,425,484172,700142,30018,4954.8
Dec3,492624,519,434178,800142,60017,2904.4
2002-Jan2,862502,970,859175,700140,70018,2404.6
Feb3,461616,881,882178,200143,70018,9274.8
Mar4,021731,728,110182,000145,20019,3674.9
Apr4,185766,278,911183,100144,90020,1395.1
May4,769913,391,794191,500145,60021,1535.3
Jun4,423817,899,695184,900148,40022,0435.6
Jul4,559857,727,953188,100145,10023,1655.9
Aug4,386811,329,118185,000145,50023,0565.9
Sep3,716653,244,332175,800142,80023,5516.1
Oct3,672657,676,258179,100143,70023,4586.0
Nov3,415611,752,816179,100143,40022,7585.8
Dec3,730698,773,428187,300148,10021,5595.5
2003-Jan2,795495,512,434177,300141,90023,5866.0
Feb2,994549,263,980183,500145,60024,3816.3
Mar4,245775,700,960182,700146,10025,3826.5
Apr4,077752,063,142184,500146,80026,2106.7
May4,655883,859,330189,900150,60026,8246.9
Jun4,847920,352,540189,900154,00027,1696.9
Jul5,085988,546,517194,400153,40027,2866.9
Aug5,003957,387,591191,400153,30026,6046.6
Sep4,267819,435,447192,000148,30026,3726.5
Oct4,136772,657,281186,800143,60025,7576.3
Nov3,225614,476,976190,500144,50025,0936.1
Dec3,949757,974,150191,900147,20024,0135.8
2004-Jan2,904523,105,156180,100138,90025,3656.2
Feb3,409643,892,110188,900146,70025,8496.2
Mar4,835924,268,970191,200146,60026,8216.4
Apr5,006985,509,075196,900148,90027,9386.5
May5,116997,391,985195,000149,60028,4966.6
Jun5,5111,134,082,858205,800159,30028,7256.6
Jul5,3981,073,634,588198,900154,50028,8426.6
Aug5,2221,038,300,840198,800152,40028,6126.5
Sep4,444834,310,868187,700146,30028,0556.3
Oct4,184802,557,736191,800148,90027,3866.2
Nov3,996754,389,601188,800148,90026,0795.8
Dec4,489870,957,702194,000148,10024,1905.3
2005-Jan2,981547,637,034183,700140,20025,8735.7
Feb3,762728,884,739193,700147,60026,7945.9
Mar5,3491,074,448,492200,900151,70027,7516.0
Apr5,2611,046,087,320198,800152,00028,7456.2
May5,6811,140,244,812200,700154,40028,7906.1
Jun6,4161,352,136,392210,700158,90028,8756.1
Jul5,8081,191,501,494205,100159,80029,1036.1
Aug6,0061,231,779,356205,100158,000--
Sep5,0861,013,634,502199,300154,50027,5625.6
Oct4,696943,709,896201,000155,10027,1135.5
Nov4,413911,211,915206,500158,50026,4685.3
Dec4,521952,447,451210,700157,10024,8605.0
2006-Jan3,457681,032,359197,000149,60026,2325.2
Feb4,311860,515,451199,600154,10026,7935.3
Mar5,8831,199,917,590204,000154,90027,7955.4
Apr5,3321,079,456,628202,400154,80029,1475.7
May6,4101,407,381,438219,600164,50029,7755.7
Jun7,1171,546,598,624217,300163,40030,3235.8
Jul5,9651,283,170,506215,100164,00031,1915.9
Aug6,3441,336,466,287210,700158,30030,7705.8
Sep5,052982,886,817194,600150,20031,0305.9
Oct5,0331,010,810,885200,800152,30030,2585.7
Nov4,585940,142,663205,000154,90029,0605.4
Dec4,737993,052,385209,600156,30027,3695.1
2007-Jan3,626731,573,846201,800149,30028,3285.3
Feb4,248861,440,268202,800153,50029,1215.4
Mar5,7261,235,307,617215,700158,20031,2815.8
Apr5,2521,165,180,158221,900164,10032,7876.1
May6,0921,370,682,102225,000163,00033,2836.3
Jun6,2071,432,055,051230,700169,10033,6246.4
Jul6,1111,330,935,156217,800163,70033,4146.4
Aug6,0411,353,660,825224,100165,70032,9156.3
Sep4,069847,151,558208,200157,50032,9076.4
Oct4,396903,923,726205,600153,50032,0796.3
Nov4,124888,702,214215,500155,40030,5636.0
Dec3,803814,393,850214,100153,70027,6495.6
2008-Jan3,210630,240,854196,300146,10028,9335.9
Feb3,869773,134,573199,800147,40029,2066.0
Mar4,495962,729,451214,200159,60030,1246.3
Apr4,7641,028,613,369215,900157,60030,4716.4
May5,1981,144,397,358220,200162,10030,3406.5
Jun5,1801,134,394,581219,000164,40030,3406.6
Jul5,1251,130,066,358220,500163,50029,7246.6
Aug4,9121,062,012,827216,200159,30028,3676.4
Sep4,293875,314,057203,900150,10027,4066.2
Oct3,709772,075,592208,200154,30026,5636.1
Nov2,801557,480,064199,000144,00026,5736.2
Dec3,292664,006,859201,700147,60024,3215.7
2009-Jan2,346417,085,333177,800138,30025,0706.0
Feb2,979564,485,187189,500147,20025,6416.3
Mar3,631694,327,912191,200147,90026,3466.6
Apr3,694709,506,666192,100149,10026,7826.8
May4,119851,097,758206,600164,30026,9187.0
Jun4,6911,001,824,336213,600166,60024,6776.5
Jul4,8651,004,407,059206,500163,40024,3876.5
Aug4,193874,205,286208,500159,60023,8276.4
Sep4,045809,693,379200,200155,70022,9796.2
Oct4,149806,064,396194,300152,70022,1285.9
Nov3,773741,958,892196,600151,20021,5525.6
Dec3,402691,647,882203,300149,90020,2605.3
2010-Jan2,208419,660,135190,100140,80021,8255.7
Feb2,773548,738,054197,900149,80022,9916.1
Mar4,080823,829,964201,900156,70024,1256.3
Apr4,774995,670,620208,600160,00024,2906.2
May4,8751,020,728,102209,400161,90025,6806.4
Jun4,6291,050,536,713226,900166,90026,8126.7
Jul3,320775,825,047233,700168,50027,7097.2
Aug3,364718,427,709213,600165,10027,3467.2
Sep3,066653,155,540213,000159,30026,745

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