What is happening in our Housing Market?

I looked at this months newest housing numbers this morning and the only thing that comes to mind is...CRAZY! I really shouldn't be surprised since I know what's happening in our market by working in it day in and day out but to see the actual numbers takes it to another level. Most people our team speaks to do not fully grasp the dramatic shift that has taken place in our local housing market in the last few months. Sellers should not delay with the hopes of catching the market on an upswing because for sellers this is as good as it has been and buyers are lined up and waiting for more homes to come on the market. Buyers currently do not have the luxury of waiting and shopping around much because if they delay there is a good chance that the home they had their sites set on will have already been scooped up by another aggressive buyer. In the average price range for Richardson ($200-250K) we only have 0.9 months worth of homes available if homes continue to be purchased at the current pace. In the average price range for Dallas ($200-299K) there's two 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.

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Leave a comment here if you'd like to be added to the Market Report emails to always have the most up to date view of the local market or simply email Kenny@ToddTramonte.com.