Hello, and welcome back to another market update with Marie Walton, your trusted REALTOR® from Ebby Halliday REALTORS. Today, I am thrilled to bring you the latest insights and trends in the real estate market here in Prestonwood, Dallas, TX. So, let’s get stated!

As we approach the end of November 2023, the real estate market in Prestonwood continues to showcase its strength and desirability. For both buyers and sellers, this market update will provide valuable information to help you make informed decisions. So, without further ado, let’s get started!

To begin, let’s take a look at the supply of inventory. Currently, we have a 1.17 Months Supply of Inventory, which indicates a highly competitive market. Over the last 12 months, we have seen a significant decrease of -32.76% in the Months Supply of Inventory, highlighting the strong demand for homes in Prestonwood.

Now, let’s shift our focus to the List to Sold Price percentage. In this market, sellers are enjoying a List to Sold Price percentage of 97.5%. This means that on average, homes are selling very close to their list price, providing sellers with confidence and buyers with fair market value.

Next, let’s touch on the median days on market. Currently, homes in Prestonwood are spending an average of 30 days on the market before being sold. This tells us that properties are moving quickly, emphasizing the high demand and attractiveness of the area.

Lastly, let’s talk about the median sold price. As of November 2023, the median sold price stands at an impressive $667,500. This indicates a strong and vibrant market where home values have been appreciating steadily.

Whether you’re a buyer or a seller, it’s essential to stay informed about the market conditions in order to make the best decisions for your real estate goals. If you’re looking to sell, now may be a fantastic time to capitalize on the high demand and favorable list to sold price percentages. And for those looking to buy, don’t hesitate to take advantage of the current market conditions before prices potentially continue to rise.

That wraps up our market update for Prestonwood in Dallas, TX for November 2023. If you have any questions or need assistance navigating the real estate market, please don’t hesitate to reach out to me, Marie Walton, your dedicated REALTOR® at Ebby Halliday REALTORS. I’m here to guide you every step of the way.

Thank you for dropping in and I’ll see you in the next market update. Remember, in this ever-changing market, knowledge is power. Stay informed and make confident real estate decisions. Until next time, take care!