Fairview TX is a small bedroom community located east of US 75 at Stacy Road. According to the Fairview Texas Website:
Fairview offers the warmth of a small town and the convenience of a big city. Located north of Dallas at U.S. Highway 75 and Stacy Road, Fairview is an alternative to the North Texas communities that are known for their cookie-cutter sub- divisions. The majority of Fairview is zoned for residential lots that are one acre or larger, with a few areas reserved for smaller home sites.
The housing market is Fairview is very stable. This month we'll present median sales price, days on market, and months supply of housing charts. Click on any chart for a larger view.
Median Sales Price
The median sales price in Fairview has recovered nicely from the low in the summer of 2009. Zoned to Lovejoy ISD and boasting estate sized lots, Fairview continues to attract buyers. The opening of the Shops at Fairview brought upscale shopping, dining, and entertainment to Fairview. In November 201 the median sales price was $279,995 and it has risen to $307,900--a gain of 10 percent.
Days on Market
The Days on Market in Fairview remain stable at about 118 days. While this is slightly over the average in the local area, 118 days on market is still very good considering the higher price points in Fairview.
Months Supply of Housing
The months supply of housing is slightly over 7.9 months. The National Association of REALTORs states that a 6 month supply of housing is a stable market, supplies under 6 months are a seller's market, and supplies over 6 months is a buyers market. While Fairview is slightly over 6 months, I still believe the market is balanced given the higher price points in the area. Fairview had an 8.3 month supply of housing in November 2010. It sits at 7.9 months now--a decrease of 4.2 percent.
See Recent Sales in Fairview TX | Fairview TX Homes for Sale
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Photo: Copyright 2011 - Tom Branch | Source: NTREIS on December 30, 2011
Originally posted at http://www.thebranchteam.com/wordpress/2011/12/31/fairview-tx-market-report-november-2011/
Tom Branch and Gina Branch, The Branch Team with RE/MAX Dallas Suburbs, service the greater North Dallas suburbs including Dallas, Plano, Allen, McKinney, Frisco, Lewisville, and Carrollton. While Gina concentrates on traditional listings and buyer/tenant representation, Tom specializes in assisting distressed homeowners to avoid foreclosure. Tom and Gina have published two books (Achieving Rock Star Status and The Field Guide to Short Sales) and are available for speaking engagements in the greater Dallas - Fort Worth Metroplex. Subscribe to The Branch Team Blog.
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Great market report Tom. I am glad your market is stable. In Lancaster we are experiencing some of the same things, except the higher price points are very slow. Have a great 2012.
Cal
Fairview hasn't seen its potential yet. It's a great place to be and good to see that the housing market is fairing well. Happy New Year, Tom and here's to your success in 2012.
Tom Your prices are certainly headed in the right direction. Arthur and I also stopped by to wish you a healthy, happy and prosperous 2012