Luxury Properties Sales Trends in Denton County

Denton County Luxury Homes Market: Days on the market (blue line) vs Month Supply of Inventory (grey bars)

City of Denton, TX has seen a decrease in Luxury Properties sales over the last year. Based on the information provided by NTREIS (Local MLS), the number of luxury properties (defined as sold price equals or above $490,000) offered for sale has increased 11% in the city of Denton. It took on average 4 times longer to sell a luxury home in Denton in October 2009 than the same time last year. Very few homes in this price range go under contract per month. In fact, the largest number was 3 in August of 2009. Often, not a single property in this category finds a buyer. On the other hand, Denton county, overall, which includes cities such as Argyle, Flower Mound, Highland Village, Trophy Club, Corinth, Double Oak to name a few, has seen a much better market performance in the luxury homes category. Sold luxury homes are up 30% from 23 homes sold in October 08 to 30 sold in October 09. While the number of properties under contract has declined by 14%, the average days on the market for a luxury home in Denton County is down 24% since October 08.

Denton, TX Real Estate Market Update

Denton TX homes for sale market has seen changes over the past year. For example, the average days on market is up in October 09 vs October 08 by 9%. It now takes on average about 4 month to sell a single family home in Denton vs. 2.5 months a year ago.
However, fewer home owners are selling their homes. This is reflected in the 43% drop in average months supply of homes for sale inventory in Denton. We are seeing about 5.2 months of supply of inventory today vs. 9.7 a year ago - in October of 2008. Another interesting stats is the number of homes under contract is up 54% since October 2008! 94 homes in Denton are currently under contract! If you need more information or ready to put your home on the market - give me a call and I will prepare a Comprehensive Custom Market Analysis for your Property!

Top Five Security Tips for FSBOs.

If you are selling or thinking of selling your home yourself - you are familiar with FSBO abbreviation. It stands for For Sale By Owner.

Follow these security tips while having your home for sale by owner:

1. Never set an appointment unless you have full name and phone number of person who asked for it. Call back to verify the number.

2. Don't tell potential buyers about your schedule.

3. Never trust unknown person to go into your home without you (by giving them location of hidden key, security system info, etc.)

4. Keep a log of everyone who looked at your home.

5. Never leave prescription drugs, valuables, guns or items of value in sight or in places where the buyers can find them.


Please remember that most of people who want to look at your home will be honest potential buyers but it is always better to be safe than sorry.


p.s. One of the greatest and ofen "unnoticed" benefit of listing your home with the REALTOR who belongs to local association and showing system is the SAFETY and SECURITY of scheduling showings.