Hi there, everyone! Welcome back to my blog. I’m Marie Walton, a dedicated REALTOR® from Ebby Halliday, REALTORS, and I’m here to give you the latest market update for August 2023 in beautiful Spring Park, Garland, TX.

Let’s dive right in, shall we? For all you buyers and sellers out there, this update is for you! So, let’s talk numbers.

Currently, we have a 2.81 Months Supply of Inventory in Spring Park. Now, what does that mean? Well, it indicates how long it would take for all the homes on the market to sell, considering the current rate of sales. So, with just 2.81 months of supply, we’re in a pretty competitive market.

Now, over the last 12 months, the Months Supply of Inventory has increased by a significant 126.61%. This means that the market has seen more homes coming onto the market compared to the rate at which they are being sold. It’s important to keep this trend in mind when making your buying or selling decisions.

Another crucial factor to consider is the List to Sold Price percentage, which currently stands at 99.6%. This tells us that homes in Spring Park are typically selling very close to their list price. So, sellers, this means you have a good chance of achieving your desired price.

Now, let’s talk about the Median days on market, which is currently at 18. This means that half of the homes in Spring Park are selling within just 18 days. It’s an indicator of the strong demand and competitiveness in our market.

And finally, the Median Sold Price in Spring Park is $502,500. This figure represents the midpoint of all the prices at which homes were sold in the area. It’s essential to keep this in mind when considering the value of your own property or determining your budget as a buyer.

So, there you have it, folks! That’s the market update for August 2023 in Spring Park, Garland, TX. As always, remember that real estate is constantly evolving, so it’s crucial to stay informed. If you have any questions or need assistance with your buying or selling journey, don’t hesitate to reach out to me.

[