Has our North Texas real estate market shifted? Let’s discuss how recent developments may impact your plans to buy or sell.
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Signs indicate that a shift is going on in our North Texas market.
According to a Dallas Morning News article by Steve Brown, the Dallas-Fort Worth area was recently ranked among the top 10 US metros with the lowest year-over-year gains in terms of average asking price.
In fact, the average asking price for our first quarter market in the Dallas-Fort Worth area rose just 5% since this time last year. This is a far cry from the 13% year-over-year increase we saw for this figure between 2016 and 2017.
Median sales price has only gone up slightly more than asking price year over year, having risen 6% since the first quarter of 2017.
But these changes don’t come down to a simple market slowdown. Our market trends have run into a ceiling, and buyers are beginning to push back.
So if you’ve been on the fence about selling, don’t wait any longer. Many sellers have put their listing plans on hold, waiting for the market to hit its peak. But the skyrocketing gains we saw previously are a thing of the past, which means now is the perfect time to list.
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Our market trends have run into a ceiling, and buyers are beginning to push back.
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Buyers are also in a great position right now, as the level of competition in our market has declined.
If you have any other questions, would like more information, or want to discuss how we can help you buy or sell your home in today’s market, feel free to give us a call, send us an email, or visit our website: www.thegoodhometeam.com. We look forward to hearing from you soon.
