Hello, everyone! I’m Marie Walton, a dedicated REALTOR® with Ebby Halliday, REALTORS, and I’m thrilled to bring you the latest market update for Bent Tree in Dallas, TX. Today, we’ll be diving into some key statistics that will provide valuable insights for both buyers and sellers in our area.

Let’s start with the current inventory situation. As of August 2023, we have a total of 3.19 months supply of inventory in Bent Tree. This means that if no new listings were to come on the market, it would take approximately 3.19 months to sell all the existing homes. This figure helps us understand the balance between supply and demand, and it indicates a fairly healthy market.

Now, looking at the trend over the past year, we see a decline of 7.27% in the Months Supply of Inventory. This decrease signifies a tightening market, where demand is outpacing supply. For sellers, this means there may be less competition and potentially higher prices, while buyers might face increased competition for the available homes.

Next, let’s talk about the List to Sold Price percentage, which currently stands at 98.5%. This figure represents the average ratio of the final sold price to the original list price. It’s a crucial indicator of market competitiveness and negotiation power. With a high percentage like this, sellers can feel confident that they’re receiving strong offers, while buyers may need to be prepared to make competitive offers to secure their desired property.

Moving on to the median days on market, we find it to be 49 days. This metric showcases the average number of days it takes for a property to go from listing to being sold. With 49 days, we can see that properties in Bent Tree are selling relatively quickly. However, it’s important to note that this figure can vary depending on factors such as pricing, location, and property condition.

Lastly, let’s discuss the median sold price, which currently stands at an impressive $870,000. This figure represents the midpoint of all the sold prices in Bent Tree over the specified time period. It’s a great indicator of the overall market value and can help both buyers and sellers understand the pricing landscape.

Well, that wraps up our market update for Bent Tree in Dallas, TX. Whether you’re a buyer or seller, I hope you found these insights valuable. As always, if you have any questions or need assistance navigating the real estate market, don’t hesitate to reach out to me. I’m Marie Walton, your dedicated REALTOR® with Ebby Halliday, REALTORS, here to guide you every step of the way.

Thank you for dropping by, and remember to like, share, and subscribe to my blog for more valuable updates like this. Until next time, take care and happy house hunting!