Your Latest Market Update

Here’s what you need to know about how the 2019 market performed and what experts are saying about 2020.

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Today we’re discussing the 2019 annual housing report as released by the Metrotex Association of Realtors. 

In 2019, we saw the median sales price continue to rise, ending the year up 3.2% from 2018 at $273,500. Also strengthening our market was an increase in active listings, up 13.7% from 2018 to 24,945.

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    Strengthening our market was an increase in active listings, up 13.7%.

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Closed sales were up 3% at 103,189. The months’ supply of inventory held relatively steady at 2.3, while the average days on market increased by 19% to 50 days.

Overall, these numbers indicate that the local market was strong last year, and most experts agree that 2020 will be similar. 

If you have any further questions about the health of our market, or you’re interested in buying or selling a home, I’d love to hear from you. Comment below or reach out via email or phone anytime.

How to Sell This Spring

Here are the three tips you must focus on to sell your home this spring.

Thinking of selling? Get a free home valuation

Thinking of buying? Search all homes for sale on the MLS

I often speak with homeowners who are thinking about making a move but don’t know where to start. If this predicament sounds familiar, the first thing you must do is meet with an agent as soon as possible to develop a game plan. 

Once you meet with an agent, there are three steps you need to take: 

1. Determine your target move-out date. Oftentimes, it can take a few weeks to get your home market-ready, and in some cases, it can take months to find the right buyer.

"In the state of our current market, missing on price just a little bit can cost you thousands of dollars and extensive time on the market."

2. Prepare your home for sale. Determine your budget for any necessary repairs and ask your agent to help guide you on how to allocate those funds so that you get the best return on investment and maximize the equity in your home. 

3. Make sure your agent has a proper pricing strategy. This will help your home sell for top dollar and within the time frame you need. In the state of our current market, missing on price just a little bit can cost you thousands of dollars and extensive time on the market. That’s why it’s critical to hire an agent you trust to set the right price for your home. 

If you’d like to know more about selling this spring or you have any other real estate questions, feel free to give me a call or send me an email. I’d be happy to help you.

The Latest Updates to Our Real Estate Market

Get familiar with the latest numbers in our real estate market today.

Thinking of selling? Get a free home valuation

Thinking of buying? Search all homes for sale on the MLS

Here is your autumn 2019 market update:

Let’s dive right into the numbers: Last month, new listings were down 1.2% across the board, while inventory grew 1.8%. This is mainly due to the 9.2% decrease in pending sales last month. These numbers demonstrate that the market is starting to shift away from that solid seller’s market and into more of a balanced market.

"The market is starting to shift away from that solid seller’s market and into more of a balanced market."

The median sales price is up 3.9% year over year. Home values have continued to increase, but it is taking a little longer for those houses to sell, with the average days on market rising 11.2% year over year. Because of this, the months’ supply of inventory on the market was up 3% as well, moving up to 3.5 months of inventory. This further proves that supply increases relative to demand. 

Many homeowners in our market have elected to refinance their home recently due to the drastic decline in interest rates, but they are still at historically high levels. 

For more information on the market or how we can help you buy, sell, or invest in your next home please give me a call, shoot me a text, or send me an email. We’d love to help!