DFW Market Trends, let’s discuss that and the Ntreis Trendspotting, that is Shana Acquisto, she’s a luxury real estate broker and she knows how to use the computer and software specifically related to real estate. We’re going to show that off for you. We’re going to show you how this feature works. We’re going to talk about benefits that it could have to you as the agent and the client, as well as how you can be a little bit more knowledgeable. Yes. Doesn’t that all sound great?
Yes, it does. Perfect. So you have to have a log in to do this. Yes. Share the screen and you can discuss it.
Go ahead. This is through your Ntreis log in and it’s going to give you a couple of tips that I think will help you in your everyday business. So when you log to Ntreiss, you typically will go into matrixes where you do your searching and and all of that if you go over here to trends. This is a call button that I think will help you guys over here. Sorry. So a lot of people are asking, well, that’s a good bar, you know, any time you can see this graph and you see this one, people are excited.
So this is a quick way for you as your super busy in your day to day business to be able to log in here and keep track of what is happening in the market. So I encourage you all to go in it and and play around with this. But when you log into trends. This mouse is crazy, so you can search by city the entire MLS, which is our everything that falls within the Ntreis mapping, all the, you know, everyone that falls into that. But we’re going to do this for an example. So here we kind of want to see what’s happening in Frisco.
And you can get as detailed as you want. But just to give you a general snapshot of. BRISCOE So we’re going to put Frisco in here. OK, so this is all property types, everything, right, there’s no filters on this, so it gives you a way to kind of see the trends that have been happening. So if you look at last year, right, you can look at last year and that’s what this is counting over last year. 28.5. Yeah. So the median home price is up 28% over last year. So you can kind of go go through here and you can see, you know, the different.
Yeah. Right now you’re displaying the median.
We are doing the median sales price. So if you come down here at the bottom, OK, that’s a sales price, you can do an average. OK, ok, you can do original list price price per square foot. And we don’t really know how I feel about price per square foot, but I think it is it is days on market.
You know, that’s the inverse.
Yes, it is. Percentage of original price versus the actual price.
106.3% That is the average right now. Well, a supply, you know, if you want to quit. How many months supply do we have right now?
Supply is going up a little bit, but three is considered a balanced market. Six or six. Six is considered a balanced one. We’re at less than less than one.
So how’s homes for sale? You know, this have found interesting. So there’s less homes for sale than there were last year. New listings is down, less listings on the market.
Some are coming on the market now, though pending is less. And closed was less. So it’s interesting, so the volume is actually down.
Yeah, volume is down. I think this is a good way to just keep track and look at it periodically so you can keep up with kind of the trend of of what you’re seeing. And that’s going to enable you to have a, you know, a conversation with anybody who asks you and you’ll be in the know and you’ll have real stats to prove it.
So this is really cool because you can do any you know, you can do it any way. You can search this in any way you want by price. You can put in all these filters. You can save it, you can print it, you can send it to a client. So I just wanted to make sure you guys were aware of this button in that dress, this is available to you for you to use.
Wow. I want to look at a couple of numbers here, if I could. Yeah. You know, what’s interesting to me is I might want to check and see how long if there’s any new homes. Right. So twenty ten in new. So what we’re seeing here is a definitely a decrease in the amount of homes that have sold that are new or right. So back here we had two hundred and twelve and that was July. Yeah.
And now all of a sudden we see that there’s just not enough being done. So that seems like a construction issue to me of the new homes. And when I look at it and I saw this all year and saw the actual volume down, what it sounded like to me and felt like is that people were not wanting to move from this area. We have an influx of people wanting to move here. But if all of a sudden no one wants to move away, then it’s going to cut down the amount of resales that are on the market.
It is. So, you know, this is kind of we have a new construction button here that we can do. However, you know, if a builder isn’t always putting it into our MLS, then that’s not going to be a term.
I know, but I don’t think of a sudden change. So what you have is so many fewer. Isn’t that crazy? Yeah, they just can’t keep up and it’s down dramatically. Just it’s a it’s a time thing. Close sales. Yeah.
Wow. It’s really it’s really interesting to see how that’s going to change over the next six months.
Well, that’s pretty much the problem. If they’re only closing 30 twenty four thirty a month instead or. Yeah. Instead of like 80. Now these are specs I know builders are considering everything a spec these days because it’s kind of how they pay us is based on if it’s a spec or not. So everything’s a spec if you guys have noticed that, but. This will not include anybody who has built and it didn’t go in in the last, so it’s just so there might be some bad debt in here. Yeah.
So you have to just kind of take that with a grain of salt. But anything that was a speck on the market.
It’s going to show while it’s a great tool, Sharna, there’s literally everything, it’s, you know, it’s just a quick way to go in there. And, you know, if someone asks you, you can say, hey, let me send something to so you can see it. And then they’re getting actual data and facts instead of just relying on your word. And sometimes it’s good to visually see it.
So, yeah, super impressive. I’m glad you shared that. It’s good. That was an amazing topic. Maybe in the near future, I want to compare and look at and break out some different items for everybody and maybe discuss condo sales in specific areas or townhouse sales and see how those are actually working. So we’ll do that is a separate topic in the very near future.
OK, I want to see how those are actually working and what’s going on with different types of housing. You might be surprised to see what the volume of different items. I think so. So I think it’s just important to stay on top of these items. It is. Thank you for sharing this on. It’s great info and super helpful. So very thankful. Thanks. All right.