How long do Colleyvill homes stay on the market? (Dallas: days on market, mineral rights)

[tinman1412]

Hi All,

Can someone enlighten me regarding homes in Colleyville. I've heard that homes sold right away when they are on the market only after a few days. Is this still the case in this current economy?. Also, do the homes generally sell for the asking price or can they be negotiable?. Why I ask is that I saw I home I really like and wanted to know if I need to move fast and make an offer that is right around the asking price. Please advise based on your experience.

Thanks in advance

[FarNorthDallas]

2009 1st quarter - per Dallas Morning News

Colleyville
Sales: 53
Change: down 35% from same time a year ago

Median price: $415,000
Change: up 9% from same time a year ago

Sq foot price: $130
Days on market: 99
Months' inventory: 8.5

[tinman1412]

Ok, so my interpretation of the data is not there's not many homes that are on the market due to decline in sales #. 99 days on the market is somewhat ambigous just because it all depends on the specific neighborhood and home. It's good to see the increase in median price going up, which means Colleyville is not affected by this recession like other cities in the Metroplex.

So, I'm not sure if my original question was answered. Anyone else have an opinion?

[nmnita]

There are a couple of things to consider when reading those stats: 1-it only takes a couple of houses to stay on the market 6 months or so to bring that 99 day stat up, because Colleyville isn't that big. Another thing, does 99 days average, mean from listing of accepted offer or listing date to closing date? A home is not really considered sold until it settles.

If you see one you like, whether it came on the market 3 days ago or 3 months ago, I would make an offer. You have nothing to lose.

Good luck,

Nita

[loves2read]

there are some homes that are on the market that are just not going to sell at the prices the sellers are asking--there are other issues that make the home not that attractive in this market but they won't drop their price and so the house stays on the market...
there are some houses that do sell fairly quickly...it all depends on the house/neighborhood/price and who is shopping

we tried to buy home in Colleyville in Highland Meadows neighborhood last year--maybe May or June--it had multiple offers for above listing price--the issue was mineral rights--which at that time companies were just about to stop paying a premium leasing bonus for...

we did raise our initial price to a little above asking--the realtor told ours that our offer was #2--I think the people who wound up getting the deal probably paid quite a bit extra to keep the mineral rights...stupid...nice house but it was fairly priced to start with--to get into a bidding war was just asking for trouble down the line...

I sent you a PM with great MLS site to use to search--and be aware that some agents won't put a contract pending sign on house when there is offer that has been accepted...they want to general as many calls into their office as they can...