Hello everyone, and welcome back to my blog! I’m Marie Walton, a proud REALTOR® with Ebby Halliday, REALTORS, and today I’m here to give you an exciting market update for Far North Dallas in Dallas, Texas. So, whether you’re a buyer or a seller, this video is for you!
Let’s jump right into the numbers, shall we? As of October 2023, we currently have a 2.85 Months Supply of Inventory. Now, what does that mean for you? Well, it indicates a healthy market where there is a balance between supply and demand. It’s not too high, which would favor buyers, nor too low, which would favor sellers.
Now, here’s an interesting statistic. Over the last 12 months, our Months Supply of Inventory has experienced a significant increase of 24.45%. This tells us that there has been a slight shift towards a more buyer-friendly market. While it’s not a drastic change, it’s certainly something to keep in mind if you’re planning to sell your home in the near future.
Moving on, let’s talk about the List to Sold Price percentage. Currently, it stands at a strong 98.3%. This means that, on average, homes in Far North Dallas are selling for 98.3% of their listing price. So, if you’re a seller, this is great news! It shows that buyers are willing to pay close to the asking price for the right property.
Next up, we have the Median Days on Market, which is 28. Now, this is an important metric for both buyers and sellers. For buyers, it indicates that you need to act relatively quickly when you find a home you love, as properties are selling within a month on average. And for sellers, it’s a positive sign that homes are moving relatively fast in this market.
Finally, let’s talk about the Median Sold Price, which currently stands at $678,000. Now, keep in mind that this is the midpoint price, meaning that half of the homes sold for more and half sold for less. It’s always important to consult with a professional REALTOR® to get an accurate estimate of your home’s value based on its unique features and location.
So, there you have it – a brief but informative market update for Far North Dallas. Whether you’re looking to buy or sell, these numbers give you a glimpse into the current state of the market. Remember, real estate is constantly evolving, and it’s crucial to stay informed to make the best decisions for your future.
Thank you for dropping in today’s blog! If you found this market update helpful, be sure to give it a thumbs up and subscribe to my blog for more real estate tips and insights. And as always, if you have any questions or need assistance with your real estate journey, feel free to reach out to me. Until next time, stay informed, stay engaged, and I’ll see you soon!
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Marie Sells Dallas 