According to the article, monthly sales of preowned single-family homes by real estate agents have increased from about 4000 in 2010 to 9022 in October 2017.
Median home sales prices for preowned single-family homes sold by real estate agents in North Texas have risen from under $150,000 in 2010 to $240,000 in October 2017.
And home inventory has fallen for the number of preowned single family homes listed with real estate agents in North Texas from about 34,000 to 21,416 in October 2017
What does this tell us?
Short home sale times indicates that the market is strong, demand for newly listed preowned homes is still a driving force in the North Texas housing market.
The cities with the highest sale price per square foot take longer to sell and are found in cities with higher inventories
Falling inventory means less homes on the market and therefore less choice for the home buyer. It also indicates that prices will not fall, but hold firm or increase with the increased demand for preowned homes.
In short, if you are a buyer, the best time to buy was 6 years ago. The second best time to buy is NOW!.
If you have a home to sell and you live in a city with the lowest home inventories AND the shortest home sale time, your home is a desired commodity. Consider converting your preowned principal residence equity into a tax free (up to $500, 000 per couple) capital gain, or make use of your appreciated real estate and convert your equity into cash and use those funds to invest in other ventures.
A good real estate will sell your home, or help you find one to buy, but a GREAT REALTOR will guide you, educate you and assist you in finding you your "Forever Home" or sell your home to one who will make it their "Forever Home".
Steve Rigely was born and raised in San Antonio, Texas. He moved to Dallas in 1998 to attend Texas Christian University. He graduated from TCU with a BA in History and a minor in Business.
Steve’s passion for helping people and his business savvy helped guide him to residential real estate in 2003.
“Real estate just felt right. After connecting all the dots, I knew that my career was in residential real estate. I loved the idea that I don’t have any limitations and every day is different than the last.”
Since starting his career, Steve has worked to build lasting relationships with his clients and prides himself in being resourceful in today’s evolving economy. Steve strives to treat each of his clients with the same consideration and revere.
Being able to see Dallas transform has been quite the experience for Steve. Being one of Victory Park’s first residents has given Steve a great platform when it comes time to try to win a potential client’s business.
“I’ve been fortunate to have lived in some of Dallas’ most unique neighborhoods. Uptown and Victory Park have been my home for quite a while now and I am still in amazement at the amount of growth and business opportunity that has been created in just a few short years. I have loved being in the heart of the action.”
Steve took his career to the next level when he joined Rogers Healy and Associates in 2009. Whether you are buying, selling, investing, or just need advice, Steve looks forward to working for you.