Flower Mound and Southern Denton County Housing Market

Several people have come up to me over the past few months with questions about the housing market in Flower Mound, Highland Village, Double Oak, and surrounding areas. I have decided to post on real estate market statistics about several DFW areas that our team works to inform buyers and sellers what it is really like out there, starting with Flower Mound and S. Denton County.

Here are the hard, cold facts:

S. Denton County - August 2008 YTD - Single Family Residences:

Number of Sales: 2648

Percent of Change vs. Prior Year: -20%

Average Sales Price: $241,672

Percent of Change vs. Prior Year: -4%

Average Days on Market: 69

Percent of Change vs. Prior Year: +25%

So what does this all mean? To you, the homeowner, it means that you can still sell your house in an average of 69 days and possibly sell it for 4% less than August of 2007. In numbers, that works out to a sales price on average of $241,672 this year versus a sales price of $251,338, a difference of $9666.

At first thought, this can seem doom and gloom. However, you can look at it a different way. Now is the PERFECT time to buy if you have good credit. You just have to change your perspective. If it were a sellers' market, you would get an awesome price on your house but you would also pay a pretty high premium on your next one. This can be your opportunity to lease out your current home and get a great deal on your dream home. You can also sell your current home and still make up for the difference on the buy side. I just represented a buyer today that purchased a home owned by a relocation company. The relo company had to bring $30K to closing. The payoff was $15K more than my client's sales price. Now, this is rare and won't happen in every situation, but deals are out there if you are patient. Relocation companies will also generally not accept a contingency on the sale of another home, but if you were going to lease your current home, what a perfect opportunity!

If you are ready to move, you can still do it! You can still sell your house in a reasonable amount of time and you can get a good deal on your buy. You just have to be ready to go for it!