Hi there, folks! It’s Marie Walton, your trusted REALTOR® from Ebby Halliday, REALTORS, bringing you the latest market update for July 2023. Whether you’re a buyer or a seller, this update is for you!

Marie Walton: Let’s dive right into the numbers, shall we? Currently, in Richardson, Texas, we have a 1.95 Months Supply of Inventory. Now, what does that mean? Well, it indicates the number of months it would take to sell all the available homes on the market if no new listings were added. This low supply suggests a highly competitive market for both buyers and sellers.

Looking back over the past year, we’ve seen a significant increase of 21.12% in Months Supply of Inventory. This indicates that more homes have been hitting the market, providing buyers with a wider range of options. It’s a positive sign for those looking to find their dream home in Richardson.

Now, let’s talk about List to Sold Price percentage. Currently, we’re seeing a healthy 100.4% average. This means that, on average, homes are selling for slightly above their listing price. Sellers, take note of this fantastic opportunity!

Time is of the essence when it comes to real estate, and in Richardson, the median days on market is just 16 days. That’s right, folks, homes are selling quickly! Buyers, this means you need to act fast and be prepared to make competitive offers to secure your dream home.

Last but not least, let’s talk about the median sold price. Currently, in Richardson, the median sold price stands at $442,500. This is an important figure for both buyers and sellers as it gives an idea of the overall market value in the area.

So, there you have it, folks! That’s the market update for July 2023 in Richardson, Texas. With low inventory, competitive pricing, and fast-selling homes, it’s an exciting time to be in the real estate market.

Remember, if you’re looking to buy or sell in Richardson or anywhere in the surrounding areas, I’m here to help you navigate the process and achieve your real estate goals. Don’t hesitate to reach out to me, Marie Walton, at Ebby Halliday, REALTORS.

Marie Walton: Thanks for dropping in. Happy house hunting, everyone!