Wednesday, October 24, 2007

Real Estate Stats You Need to Know

Recently, the President of my company, Sue Meyer, wrote a letter to the Dallas Morning News and the Star Telegram encouraging them to write more positive articles about our local real estate market. In this letter she uses statistics that some people will find startling. As you all know, I have been a consistent advocate for our local real estate market trying to make sure people understand Dallas/Ft. Worth is doing fine amidst all of the doom and gloom real estate markets around the country. “Real estate is local” has been my mantra for many months. What is happening in Florida has no effect on your home’s sales price. The only effect these stories have had is only on our psyche. So now it’s time to put my money where my mouth is, so to speak, and show you those statistics Sue Meyer showed all 1,300 agents with Coldwell Banker Dallas/Ft. Worth.

2006 was the best year for real estate sales ever in the North Texas region with a sales volume of $18.2 billion dollars. If North Texas sales continue at their current pace (5% appreciation overall), even with the slight dip in sales numbers we have seen recently, we are still going to have the second best year for real estate sales ever! These are very impressive statistics but I have yet to see any of our local newspapers put these numbers in writing and into perspective. It is true our sales have declined. But is that really a bad thing when compared to the best year in the history of real estate? I don’t think so.

So now that you are adequately armed with knowledge, go tell your friends and family. The more people think our real estate market is doing poorly, it is only a matter of time before we make that a reality. We are our own worst enemy. So the next time someone tells you real estate in North Texas is headed South, quote these numbers taken straight for the North Texas Real Estate Information System. Not only will they be impressed, your local real estate market will thank you.

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