Jay Myers provides a statistical analysis and trends report for the Denton County, Texas real estate market based on data from NTREIS. The analysis shows that in February 2010, the median price for properties under contract decreased over $5,000 from the previous year while the median price for sold properties only increased $2,000, suggesting the market is beginning to change from the effects of the expired federal tax credit. Myers predicts home prices may fall by up to 3% by mid-summer to reflect the loss of appreciation from the tax credit. He advises sellers to price properties appropriately and buyers to avoid lowball offers that do not reflect current market values.

1. March 2010
Jay Myers – REALTOR®
Keller Williams Realty –Dallas Metro North
Flower Mound, TX
Website: www.MyDentonCountyRealEstate.com
email: jay@jaymyers.net
Cell: (972) 510-7800
Serving North Texas Buyers, Sellers and Investors Specializing in Denton County

2. REAL ESTATE STATISTICS ANALYSIS AND TRENDS FOR
DENTON COUNTY TEXAS
The following statistics are gathered from the North Texas Real Estate Information
Systems (NTREIS) the information herein deemed reliable but not guaranteed.
This analysis is based solely on:
 Single Family Residences
 Resale or Pre-Owned homes
 Denton County
 Based on a 1 or 2 Year Analysis
It Does NOT Include
• New Construction
• Condominiums
• Farms and Ranches
• Vacant Land
All interpretation and commentary is that of Jay Myers and not necessarily shared by
the National Association of REALTORS® (NAR) the Texas Association of REALTORS®
or my brokerage Keller Williams Realty.
Jay Myers (972) 510-7800
www.MyDentonCountyRealEstate.com

3. Average SOLD Properties by Month
1,000
800
600
400
200
0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2008 415 553 636 665 841 843 864 800 649 532 403 479
2009 285 430 528 574 684 821 878 709 641 697 591 503
2010 307 406 617
Jay Myers (972) 510-7800
www.MyDentonCountyRealEstate.com

4. Median Price for SOLD Properties by Month
200,000
180,000
160,000
140,000
120,000
100,000
80,000
60,000
40,000
20,000
0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2008 157,400 159,000 170,500 160,000 168,000 170,000 171,850 184,450 169,400 165,872 157,000 165,000
2009 150,000 161,000 160,126 160,500 171,400 172,500 175,000 175,750 167,000 165,500 162,700 166,500
2010 166,000 168,000 170,000
Jay Myers (972) 510-7800
www.MyDentonCountyRealEstate.com

5. Average Days on Market for SOLD Properties
80
70
60
50
40
30
20
10
0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2008 77 73 70 66 62 62 60 60 69 67 68 70
2009 71 76 71 67 65 60 67 68 62 66 70 79
2010 74 66 70
Jay Myers (972) 510-7800
www.MyDentonCountyRealEstate.com

6. Homes For Sale vs. SOLD
6000
5000
4000
3000
2000
1000
0
Jay Myers (972) 510-7800
www.MyDentonCountyRealEstate.com

7. Units Under Contract by Month
900
800
700
600
500
400
300
200
100
0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2008 581 661 671 803 842 817 826 676 539 453 404 361
2009 451 526 606 733 772 832 778 667 673 685 435 353
2010 490 636 868
Jay Myers (972) 510-7800
www.MyDentonCountyRealEstate.com

8. Median Under Contract Price
185,000
180,000
175,000
170,000
165,000
160,000
155,000
150,000
145,000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2008 169,000 168,000 167,400 169,900 172,250 173,000 184,900 173,000 174,500 159,900 160,200 159,900
2009 162,450 164,900 169,430 175,000 174,500 179,095 175,000 175,000 169,000 165,000 167,900 171,500
2010 174,900 169,900 169,862
Jay Myers (972) 510-7800
www.MyDentonCountyRealEstate.com

9. Average Days on Market Under Contract
90
80
70
60
50
40
30
20
10
0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2008 73 71 63 64 62 58 63 65 70 66 71 72
2009 71 74 64 66 62 67 66 68 64 71 80 83
2010 67 66 65
Jay Myers (972) 510-7800
www.MyDentonCountyRealEstate.com

10. New Listings by Month
1,600
1,400
1,200
1,000
800
600
400
200
0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2008 1,194 1,206 1,274 1,419 1,364 1,389 1,233 1,140 957 903 766 675
2009 1,023 1,011 1,279 1,301 1,209 1,331 1,264 1,191 1,047 970 756 638
2010 1,192 1,220 1,563
Jay Myers (972) 510-7800
www.MyDentonCountyRealEstate.com

11. Median Price for New Listings
200,000
195,000
190,000
185,000
180,000
175,000
170,000
165,000
160,000
155,000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2008 179,900 179,900 184,900 189,900 194,155 189,900 192,500 187,650 179,900 174,939 184,945 170,500
2009 188,000 199,500 197,900 192,500 199,900 197,000 189,000 189,900 184,900 184,950 189,000 173,250
2010 179,975 187,500 200,000
Jay Myers (972) 510-7800
www.MyDentonCountyRealEstate.com

12. Number of Active For Sale Properties
6,000
5,000
4,000
3,000
2,000
1,000
0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2008 4,380 4,520 4,669 4,986 5,086 5,173 5,116 4,928 4,655 4,507 4,200 3,951
2009 4,029 4,127 4,519 4,792 4,877 5,020 4,991 4,909 4,731 4,531 4,043 3,785
2010 4,087 4,351 4,912
Jay Myers (972) 510-7800
www.MyDentonCountyRealEstate.com

13. Median Price for Actively Listed
250,000
200,000
150,000
100,000
50,000
0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2008 180,000 184,900 189,900 194,900 199,900 200,000 207,000 205,000 199,967 199,900 199,900 199,000
2009 197,000 199,900 208,450 209,900 216,950 219,500 219,500 216,488 214,939 216,500 224,900 219,000
2010 205,000 200,000 209,900
Jay Myers (972) 510-7800
www.MyDentonCountyRealEstate.com

14. Average DOM for Actively Listed
200
180
160
140
120
100
80
60
40
20
0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2008 172 169 164 159 158 160 165 172 179 182 189 192
2009 184 179 172 166 162 159 159 158 157 156 159 154
2010 142 122 96
Jay Myers (972) 510-7800
www.MyDentonCountyRealEstate.com

15. Expired Listings by Month
700
600
500
400
300
200
100
0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2008 486 464 431 461 460 473 502 554 512 620 520 586
2009 463 361 419 395 416 462 493 557 497 557 462 536
2010 472 366 401
Jay Myers (972) 510-7800
www.MyDentonCountyRealEstate.com

16. IN CLOSING:
I believe the only thing that is perfectly clear after looking at the statistics for February is that the
real estate market for Denton County is beginning to change.
With median prices for under contract properties down over $5,000, and sold properties median
price only increasing $2,000 these are numbers I don’t believe anyone expected to see while the tax
credit was still in effect, even for the winter month of February.
I have talked a lot, and I mean a lot about the first time home buyer tax credit and it’s expiration on
my site, with my clients, and those who call me with questions. I am sticking with my earlier opinion
or prediction that I expect to see prices fall by up to 3% by mid to late summer; which will be most of
the appreciation in values we have seen in the last year and a half.
SELLERS BUYERS
It is always important for sellers to price It is equally important for buyers to not
their properties appropriately. Do not believe they can come in and low-ball a
chase the market, or wait for the house with a offer 10% less than the market
market to catch up to you when it suggest, not the seller or their agent.
comes to setting a price if you are
serious about selling.
Work with an agent that tells you what you need to hear, not what you want to hear.
Jay Myers (972) 510-7800
www.MyDentonCountyRealEstate.com