Hey everyone, it’s Marie Walton here, your friendly neighborhood REALTOR® with Ebby Halliday, REALTORS. Welcome back to another exciting market update! Today, we’re diving into the real estate scene in Reservation, Richardson, Texas, as of June 2023. Whether you’re a buyer or seller, this update is tailored just for you!

Let’s kick things off with a look at the current inventory in Reservation. Right now, we have a 2.27 Months Supply of Inventory. What does that mean? Well, it indicates how long it would take for all the homes currently on the market to sell, given the current sales pace. And let me tell you, that’s a healthy number! It shows a strong demand for homes in this area. Now, let’s talk about the trend over the past year. Drumroll, please! We’ve seen a remarkable -22.26% decrease in the Months Supply of Inventory. That means the market has become even more competitive, with homes flying off the shelves faster than ever before. So, if you’re a seller, this is fantastic news!

Alright, let’s shift our focus to the List to Sold Price percentage. This number reveals how much buyers are willing to pay compared to the listed price. And guess what? We’re currently sitting at an impressive 104.9%. That’s right, sellers are getting a fantastic return on their investment!

Now, let’s talk about time. How long can you expect your home to be on the market before it’s sold? Well, in Reservation, the median days on market is just 19 days. Yes, you heard that correctly! Homes are selling like hotcakes, and buyers are eager to find their dream home in this beautiful city.

Last but certainly not least, let’s discuss the all-important median sold price. As of June 2023, the median sold price in Reservation stands at a solid $541,500. It’s always beneficial to stay informed about the current market value of homes in your area, whether you’re buying or selling.

Well, folks, that wraps up our market update for Reservation, Richardson, Texas. It’s clear that the real estate market in this area is thriving, with low inventory, high demand, and favorable selling conditions. If you’re thinking of buying or selling, now might just be the perfect time to make your move!

Remember, if you have any questions or need assistance navigating the real estate process, I’m always here to help. Feel free to reach out to me, Marie Walton, your trusted REALTOR® with Ebby Halliday, REALTORS. Thanks for tuning in, and I’ll catch you in the next update!