Hey everyone! Welcome back. I’m Marie Walton, a REALTOR® with Ebby Halliday, REALTORS, and today I’m going to give you a market update for May 2023 in Richardson, Texas.

If you’re a seller or thinking about selling your house, this is for you. So, let’s dive into the data and see what’s happening in the housing market.

First, let’s talk about inventory. Currently, there are 1.71 months supply of inventory in Richardson. This means that if no new houses were listed, it would take only 1.71 months to sell all the houses that are currently on the market. This is a increase from last year when the months supply of inventory was at 1.14, but it’s still a strong seller’s market.

Over the last 12 months, the months supply of inventory has increased by 50%. This is due to more people putting their homes on the market and more new construction projects in the area. With more inventory, buyers have more options, but it’s still a great time to sell.

Now, let’s talk about the list to sold price percentage. This year, the percentage is at 101.2%, which means that on average, sellers are getting more than their asking price. This is great news for sellers as it shows that the demand for homes is high.

The median days on the market is 24, which is a decrease from last year when it was at 32. This means that houses are selling faster than before. If your house is priced correctly and in good condition, it shouldn’t take long to find a buyer.

Finally, let’s talk about the median sold price. The median sold price in Richardson is $428,550. This is an increase from last year when it was at $396,250. This means that home values are rising, which is great news for sellers.

Overall, the housing market in Richardson is still strong for sellers. With low inventory, high demand, and rising home values, it’s a great time to sell your house. If you’re thinking about selling, I’d be happy to help you navigate the market. Thanks for watching!