Dallas-Fort Worth Real Estate Investor Club

DFW Sales Prices UP or DOWN from 2019?

  • 26 Apr 2020 11:43 AM
    Message # 8929246

    Does anyone know if the average sale price for a smaller DFW single family homes is up or down in the past 12 months? e.g. April/May 19 Vs April/May 20.

    For context, I own a 3/2.5 (2250 sq ft) home in West Plano that is currently rented out, but lease is ending in May. I would prefer to sell it in May 20, but if I can't get close to my asking price of 310-315, I will rent it out again till May 21. I had one prospective realtor mention 320K and said prices are higher by 2-3% than last year and another prospective realtor mention 305K who said that prices are lower by 1-2% than last year.

    Any feedback would be appreciated.

    Thanks!

    Keith

  • 26 Apr 2020 1:08 PM
    Reply # 8929336 on 8929246

    Keith,

    Sales Price will depend on several factors, including the subdivision, condition and age of house, schools, etc. However, MLS data for MEDIAN sales price of 3 BR Plano homes between 2,000-2,500 sqft as follows:

    Jan 2019      $324,000                      Jan 2020      $344,000

    Feb 2019      $307,250                      Feb 2020      $331,000

    March 2019   $313,793                     March 2020   $333,875

    April 2019     $315,000                     April 2020     $332,250

    May 2019      $317,000

    June 2019     $320,000

    These stats are for all of Plano and not specific to the area of your house. You could have your agents give you a CMA to provide a better estimated sales price.

    Hope this helps,

    Terry

  • 26 Apr 2020 6:03 PM
    Reply # 8929673 on 8929246

    Thanks Terry, I appreciate your response!

    I should have mentioned by zip code which is 75023

  • 27 Apr 2020 8:42 AM
    Reply # 8930679 on 8929246

    Have your realtor list it both for sale and rent.  See what comes in the door.

      Neil Aggarwal
      Property Financing, LLC

  • 27 Apr 2020 11:08 PM
    Reply # 8932280 on 8929246
    Richard Kellett (Administrator)

    Call me. Let's talk about some Ideas I have for your house.

    You can have cash now, and an income stream for years, with no tenents or toilets

    Dick Kellett

    817-915-0122


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