Pilot Point Market Analysis
This week I had the pleasure of speaking at the Lake Ray Roberts Rotary Club meeting. The Rotary Club serves the Pilot Point and Aubrey area around Lake Ray Roberts. I spoke about real estate appraisals, what they are and what they are not. I then presented a local market analysis for Pilot Point, TX and I thought I would share here as well.
The city of Pilot Point is a small community located approximately 55 miles north of the Dallas/ Fort Worth area. The Pilot Point market has water influence of Lake Ray Roberts with Isle de Bois State Park located nearby. The area has rich sandy soil which is desirable for horse ranches and equine facilities. There are around 300 horse ranches in the area. The city has a population of 4,006 per 2013 Census data.
Primary Year Sale Price, Median
2005 $125,000
2006 $128,603
2007 $147,500
2008 $120,000
2009 $121,250
2010 $120,000
2011 $138,750
2012 $130,000
2013 $110,000
2014 $135,000
2015 $130,950
The median sale price in Pilot Point ISD was $135,000 in 2014 which was up 22%. The highest median sale price was in 2007. Currently for 2015 we are at $130,000.
Primary Year Sales, Number of
2005 120
2006 111
2007 129
2008 80
2009 98
2010 104
2011 94
2012 122
2013 170
2014 160
2015 59
There were more sales in 2013 but lower sale prices. So far 2015 has had 59 sales.
The inventory was at its highest levels in 2011 and they have dropped off in 2013 and 2104. So far in 2015 inventory has been really low which makes for a seller’s market.
2007 19
Primary Year Sales, Number of
2005 20
2006 16
2008 13
2009 25
2010 25
2011 15
2012 24
2013 14
2014 9
2015 6
The number of REO sales (foreclosure) sales has dropped off dramatically in 2013. There were only 9 sales in 2014 and so far in 2015 there have been 6 foreclosure sales in Pilot Point ISD.
Builder Sales-Primary Year Sales, Number of
2005 1
2006 0
2007 1
2008 0
2009 1
2010 3
2011 0
2012 2
2013 2
2014 2
2015 1
We do not have very many builder sales or new construction. Keep in mind these are only builder sales reported in the MLS. Not all builder sales are on the MLS. We have had very little new construction in Pilot Point the last 10 years.
*All Data is from the North Texas Real Estate Information Systems, Inc.
Disclaimer: All information deemed reliable but not guaranteed. The information is meant entirely for educational purposes and casual reading only and is NOT intended for any other use. This information is NOT intended to support an opinion of value for your appraisal needs or any sort of value conclusion for a loan, litigation, tax appeal or other potential real estate or non real estate purpose. If you’d like to obtain additional information or order an appraisal for your specific needs, please contact us at www.dwslaterco.com.
