Area 12, aka East Dallas, encompasses WAY too much area in my opinion. Search for homes in zip codes 75214 and 75206 and just see how many homes come up. Anyway, M-Streets and Lakewood are also affectionately known to Realtors as Area 12, Sub-areas 6 & 7, respectively. Think areas roughly South of Mockingbird and North of Gaston; East of 75 and West of White Rock Lake. Enough of that, here's what I found out.
Number of homes sold: 66 (94)
Avg. price/sf: $178.53 ($175.57)
Avg. sales price: $416,985 ($393,812)
Avg. days on market: 80 (74)
*2007 statistics for same time period in ( )
Apparently South of LBJ is showing similar not-so-hot results when it comes to number of homes sold over the same time period compared to one year ago. East Dallas posted a 30% drop in number of homes sold but, just like Preston Hollow, boasts a higher average sales price with a 6% increase. Check out all the fun 2007 and 2008 numbers for yourself.
This is why a realtor is necessary to best advise you of status of a local economy.
ReplyDeleteYou mean your neighbor who sold their home by themselves isn't the best source of information? (sarcasm)
ReplyDeleteMore and more affluent people are supporting the public schools in the Lakewood area and Robert E. Lee and ever-exemplary Lipscomb will probably soon join Lakewood (nominated for Blue Ribbon) and Stonewall Jackson (has already won Blue Ribbon status) as 'yuppie elementary schools'. Choose Woodrow signs are all over and the Dallas Morning News even did their lead editorial on it..
ReplyDeleteNow that the schools are being discovered I would expect Lakewood/MStreets, etc. to keep rising rapidly in price.
I agree. There are so many great families with children in the Lakewood area that if they would just get behind their local school they would all be exemplary.
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