Hey there, Richardson residents, and welcome back to another market update! I’m Marie Walton, your trusted REALTOR® from Ebby Halliday REALTORS, and today we’re diving into the latest real estate trends right here in our wonderful city.

Now, I know you’re all eager to hear the numbers, so let’s jump right into it. As of October 2023, we currently have a 2.37 Months Supply of Inventory. But what does that mean for you? Well, it indicates the number of months it would take to sell all the homes on the market if no new listings were added. So, in simpler terms, it’s a measure of supply and demand.

Over the last 12 months, we’ve seen a modest increase of 23.44% in our Months Supply of Inventory. This means that demand has remained strong, but we’re also seeing a healthy growth in available properties. So, whether you’re a buyer or a seller, there are opportunities for everyone in our market.

Now, let’s talk about the List to Sold Price percentage. This figure tells us how close sellers are getting to their asking price. And here in Richardson, we’re seeing a fantastic 98.3% List to Sold Price percentage! That’s right, our sellers are achieving almost their entire asking price, which is great news for those looking to maximize their investment.

Moving on, let’s focus on the Median Days on Market. Now, this is the average number of days it takes for a property to go from listing to being under contract. And guess what? In Richardson, we’re seeing a median of just 19 days on the market! That’s lightning-fast! So, if you’re a buyer, you’ll want to act quickly when you find your dream home.

Lastly, let’s discuss the Median Sold Price, a key indicator of the overall market value. Currently, our Median Sold Price in Richardson stands at an impressive $450,000. That’s a strong and stable figure, reflecting the desirability of our city and the quality of our properties.

So, whether you’re buying or selling, Richardson is the place to be! With a healthy supply of inventory, sellers achieving their asking price, lightning-fast sales, and an impressive median sold price, our market is thriving.

As always, if you have any questions or if you’re ready to make your move, don’t hesitate to reach out to me, Marie Walton, at Ebby Halliday REALTORS. I’m here to guide you every step of the way.

Thanks for dropping by, and I’ll catch you in the next update! Happy buying and selling, Richardson!