The fourth quarter sales for BACD remained solid, though there were a few signs of softening. The average Price Per Foot for homes in the area dropped to $217/ft (about where is was this time last year) and the average price dropped slightly to around $625,000, though still higher than this time last year. This drop is due to a couple of older new construction homes sold that were reaching the point of needing updating. Much of the new construction is starting to pass the 15 year mark and is in need of new mechanical systems and cosmetic updating. Inventory levels remain far below Dallas generally, and lower even than the rest of Lower Greenville. So we are beating the surrounding neighborhoods.
I hope you will find this information useful. If you have any questions or suggestions for additional information that might be included here, let me know
If you’d like a detailed Comparable Market Analysis of your home, drop me an email, visit my website or just give me a call at 214-476-8023.
NOTE: Last updated January 9, 2017.
This data is for informational purposes only and should not be used to determine the market value of any particular property.
1.”New Homes” refers to homes less than 25 years old.
2. “Original Homes” refers to homes built prior to 1970.
3. All results are based on data from the Multiple Listing Service for Single Family Homes and does not include “For Sale By Owners” or other homes not sold on the open market.
4. These results are only for homes within the Belmont Addition Conservation District and are not the whole story for property values within the greater area. Comparable properties outside the CD may be used for appraisal purposes.
5. “Days on Market” refers to the number of days the property was available to the open market. Once a property is under contract, the clock stops counting.