Fairhaven Realty
Fairhaven Realty
Fairhaven Realty, a br of Lakeway Realty, Inc.

Is the real estate market stabilizing?

Posted on February 2, 2010

Tuesday, February 02, 2010 finds the agents of Fairhaven Realty in Bellingham, WA busy. Some are showing homes, preparing to list homes and our agents are always available to answer any real estate questions you might have. Feel free to give us a call at (360) 676-8990.

What’s happening in today’s real estate marketplace? Is the real estate market stabilizing? What are the indicators? ZipRealty reports some interesting figures from their Quarter 4 Home Hunter Report.

ZipRealty reports that while some of the “hottest” real estate markets in the country-those where homes are selling most above their list prices-continue to be distressed areas dominated by heavily discounted prices, there are some interesting exceptions. In two higher priced zip code areas in California’s Berkeley and the Los Angeles suburb of Tarzana, and three zip codes in the greater Dallas-Fort Worth area, homes sold on average well above asking price in Quarter 4 of 2009 according to ZipRealty’s Home Hunter Report (Q4).
 
Homes in Berkeley’s 94703 zip code area sold for an average of 107.86% of list price with an average home sale price of $538,626 for Q4. The Tarzana District of Los Angeles’ 91356 zip code sold for an average of 107.30% of list price with an average sale price of $653,722 during the same period.

Texas claimed three of the country’s “hottest” markets in Q4 for the first time. Fort Worth’s 76135 zip code sold for an average of 134.65% of asking price; the upscale Dallas community of Rowlett (75089) commanded on average 110.81% of asking price; and Arlington, Fort Worth’s largest suburb (76001), also entered the top ten list.

“For more than a year now we’ve been seeing distressed areas with heavily discounted properties dominate the ‘hot’ markets where homes fetch more than the asking price, and it’s a great sign that we’re now starting to see higher-priced areas going over asking price, too,” said Leslie Tyler, Vice President and chief home hunter for ZipRealty. “These hot micro-markets across California and Dallas-Fort Worth point to the continued stabilization happening in different areas nationwide.” *

 *Information gathered from www.rismedia.com, Some Housing Markets Hot Again, posted by Susanne on January 28, 2010.

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Fairhaven Realty, a Branch of Lakeway Realty Inc. | 1100 11th Street, Bellingham, WA 98225 | Office: 360-676-8990 | Fax: 360-734-5109
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