What is happening in our Housing Market?

This year's weather has started off with a cold snap but our local housing market is still as hot as ever! Recently, the Standard & Poor’s/Case-Shiller Home Price Index reported prices of pre-owned homes up 9.7 percent from October 2012. The annual price increase was the greatest such gain for Dallas in the history of the closely watched housing barometer. This is a great time to take advantage of the hot market if you are considering selling your home because prices are up and inventory is down which means that the demand for homes is surging. If you are thinking of buying a home at this time it may be best to act fast before prices continue to climb. Regardless of your plans, an expert real estate advisor can help you get a game plan in place to best serve your needs at this time. In the average price range for Richardson ($200-250K) available inventory is only 0.7 months worth of homes available if homes continue to be purchased at the current pace. To help give you some perspective that is only 13 homes available for sale. In the average price range for Dallas ($200-299K) there is only 1.4 months worth of available inventory.

Do not let the national news media be the only influence on how you feel about the current market because real estate is hyper local. Locally, we have one of the strongest housing markets in the entire country. That's something to be proud of. If you've been considering selling your home, now would make perfect sense with the low levels of available homes. Buyers do not have the luxury of waiting too long to shop around for fear that they may miss out on the home of their dreams. Combine that factor with an aggressive marketing approach like ours and it's no wonder that we're selling homes in a matter of days (and sometimes hours). This is great news for Richardson residents.
Check out the links below to see all the exact numbers.

Click to view the Richardson Housing Market Report.

Click to view the Dallas Housing Market Report.

P.S. We're working with multiple buyers who have a very strong desire to get into homes in The Reservation subdivision in Richardson and the far North Dallas area feeding into Bowie Elementary (RISD). If you are in one of these areas and would like to talk about your options please give us a call. If you have a friend, family member or coworker who may be interested in speaking to us about their options please feel free to forward this to them or let us know so we can reach out to them.

P.P.S. Do you want to know what your home would sell for? If so, or if you have any other real estate related questions, please feel free to call me at my office at 214.216.2161.

Todd Tramonte

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Todd Tramonte is an industry leading communicator about real estate, marketing, client experience and business best practices. Through expertise, education, and a results-oriented approach, Todd and his team at The Todd Tramonte Home Selling Team have one common goal: Provide the absolute most valuable expertise, counsel and direction through the home selling and buying process and ensure that it is fun by working as a team of experts each complimenting each others' strengths. Find other articles written by Todd.


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