Hey there, everyone! Welcome back to another exciting market update. I’m Marie Walton, a REALTOR® with Ebby Halliday, REALTORS, and today I have some fantastic news to share with all you buyers and sellers out there. So, grab a cup of coffee, sit back, and let’s dive right into the current market conditions for Dallas North Estates in Plano, Texas, as of August 2023.

Alright, let’s start with the most important metric when it comes to understanding the market: the supply of inventory. Currently, we have 1.89 months supply of inventory in Dallas North Estates. Now, what does that mean? Well, it indicates how many months it would take to sell all the existing homes on the market if no new listings were added.

Now, here’s the interesting part. Over the last 12 months, the Months Supply of Inventory has increased by a staggering 114.77 percent. This means that there are more homes available for buyers to choose from, which can potentially create a more balanced market.

Next up, let’s talk about the List to Sold Price percentage. This figure represents the average percentage of the listing price that sellers are actually receiving when their homes are sold. In Dallas North Estates, the List to Sold Price percentage is a solid 95.6 percent. This indicates that sellers are getting close to their asking price, which is great news for those looking to sell their homes.

Now, let’s talk about how quickly homes are selling. The median days on market in Dallas North Estates is just 14 days. That’s right, folks! Homes are being snatched up quickly, so if you’re a buyer, it’s essential to act fast and maybe even make a competitive offer to secure your dream home.

Last but certainly not least, let’s talk about prices. The median sold price in Dallas North Estates is currently sitting at $500,000. This figure gives you a good idea of the average price range for homes in this area.

And that’s a wrap for today’s market update! I hope you found this information helpful and insightful. Remember, the real estate market is constantly evolving, so it’s essential to stay informed. If you have any questions or need assistance with buying or selling a home in Dallas North Estates or anywhere else in Plano, Texas, feel free to reach out to me. I’m here to help!