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What’s the Latest Real Estate News in the 76133 Neighborhood?

The latest statistics tell us that a strong seller’s market got even stronger this year in the 76133 zip code. Here’s what that means for buyers and sellers.

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What are the latest developments in residential real estate from the 76133 zip code? The way the numbers from March 2016 compare to March of this year paint an interesting picture.

In March 2016, we had 1.4 months of housing inventory available. In March 2017, we saw that number get slashed in half to 0.7 months. That’s a decrease of 50% and means if no new homes came on the market, it would take approximately just three weeks to sell all existing homes for sale.

Our average days on market decreased 26% from 35 days in March 2016 to 26 days in March 2017. The average sales price increased 26% from $129,000 in March 2016 to $156,500 in March 2017. The average sales price per square foot increased 21% from $73 in March 2016 to $84 in March 2017.

What was already a hot seller’s market got even hotter in 2017.
These numbers tell us that what was already a hot seller’s market got even hotter in 2017. If you’re thinking of selling your home this year, you can expect multiple showings within the first few days and a likely sales price at or above the current asking price. If you’re thinking about buying a home in the 76133 area, you need to move quickly because most homes are selling at or above their list price.

If you have any further questions about our market or you’re thinking about buying or selling a home, give me a call, shoot me a text, or send me an email. I’d be glad to help you.