We live in Dunlap, but we help home buyers and sellers everywhere. Because we live in Dunlap however, we have a lot of questions that pertain to the area. If you would like any detailed reports for any of the surrounding areas, just drop us an email and we would be happy to send one out right away!
Let’s see what is happening in the Dunlap area.
Lots of new homes have been coming on the market. Compared to Aug 2014 there has been an increase of 22.7% new homes while year to date new listings are up 19%.
Home closings are also up. For Aug 2015 they are up 9.1% and year to date they are up 17.3%. This goes along with a lot of what we saw the first and second quarter of 2015, which was a big jump in activity.
The average sales price is down a little in Aug 2015, down 5.9% to $300,000. Year to date the average sales price has remained pretty steady, but up 1.6% compared to the same time frame in 2014.
The listing price to sales price ratio in Aug 2015 was 93.9% and year to date is has been 95.3%.
The days on market for Aug 2015 was 114, which was about the same as last Aug as well. Year to date however the average days on market has been 91 days so far.
The average sales price in Dunlap is higher than most areas, but that doesn’t really mean that it’s an apples to apples comparison. The Dunlap area as a whole has many more new homes than older homes, and more new constructions that any of the other local communities. Because of this there are fewer $50,000 homes for example compared to older communities that have an older inventory of homes. Aside from the school districts and newer homes being a big draw, the proximity to the Mossville Caterpillar facility is also a plus for a lot of the people that work there.
Predictions for the 3rd and 4th quarter, as well as the rest of 2016? A lot of that will depend on Caterpillar and what they decide to do with moving employees around. I expect, as do many analysts, that things will remain relatively flat for the next 6-12 months. This could translate to a good time to buy in the higher price ranges if the supply of buyers in this price range is lower than usual.