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Old 08-25-2013, 10:17 PM
 
55 posts, read 66,008 times
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My experience with Realtor.com has been very good. They change property status very promptly and try to keep data up to date.
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Old 08-26-2013, 09:13 AM
 
Location: DFW - Coppell / Las Colinas
29,978 posts, read 34,616,587 times
Reputation: 36003
Quote:
Originally Posted by TurtleCreek80 View Post
The amount of homes on the market doesn't make a difference; the rate at which they're selling (months of inventory) does. If Plano has only 90 people a month buying a home, they have 10 months of inventory (too much, therefore prices probably headed down). In actuality, Plano probably has about 400-500 people buying a home each month, meaning there is amout 2 months' inventory (scarcity driving prices up).

Inventory is running at 3 months or less in all the suburbs you mentioned right now. 6 months is considered "healthy" / normal.
Plano is a good example. In the popular $250-450k price range there are 262 homes for sale and 187 under contract. Since July 1 2013, 255 homes have closed. Average days on market for these sold homes was 30 days, which means many went under contract the first 10 days.

Considering it takes 30-60 days to close on a house this basically is a 2 month supply which is an extreme shortage.

As you mentioned, a 6 month supply is a balanced market.
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Old 08-26-2013, 04:16 PM
 
1,788 posts, read 1,889,269 times
Reputation: 1706
Quote:
Originally Posted by sossie View Post
As I stated before realtor.com and sawbuck sites lack behind in realtime statistics-realtors have the most up to date listings -I mean they have the changes on a daily basis to exactly where each listing sits in terms of contract. In actual fact when we started looking we sent a realtor a list of the houses we wanted to look at as per realtor.com and they were all under contract-we had a list of about 16. DFW is doing pretty well atm-be prepared to look and make an offer pretty quickly and know plenty of others are doing the same thing.
Same. When we started looking we brought about ten houses from Realtor and none were available.
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