Hi there, everyone! Welcome back to my blog I’m Marie Walton, your trusted REALTOR® from Ebby Halliday REALTORS, and today I am thrilled to bring you the latest market update for Richardson, Texas in January 2024. Whether you’re a buyer or a seller, this information is going to be invaluable to you. So, let’s dive right in!

Alright, let’s start with the supply and demand dynamics in our lovely city. Currently, Richardson has a 1.88 Months Supply of Inventory. Now, what does that mean? Well, it’s an indicator of how long it would take for all the homes on the market to be sold if no new listings were added. And let me tell you, this number is important! Over the last 12 months, we’ve seen a 17.5% increase in Months Supply of Inventory. So, what does this mean for you? It means that Richardson’s real estate market is experiencing a shift, and it’s essential to stay informed and adapt your strategy accordingly.

Now, let’s talk about something that every seller wants to know – the List to Sold Price percentage. In Richardson, we’re seeing an impressive 98.3% List to Sold Price percentage. That’s right, sellers are getting almost the full asking price for their homes. So, if you’re thinking of selling, this is definitely good news for you. But remember, pricing your home strategically and working with an experienced REALTOR® like myself is key to maximizing your profits.

Ah, the ever-important factor of time in the real estate market. The median days on market in Richardson is currently 35. That’s right, homes are selling relatively quickly! But don’t worry, buyers. There’s still plenty of time to make your move and find that perfect home. Just be prepared to act fast to secure your dream property in this competitive market.

And now, the moment you’ve all been waiting for – the median sold price in Richardson. As of January 2024, the median sold price is a fantastic $434,500. Wow! Can you believe it? Richardson’s real estate market continues to thrive, and this increase in median sold price is a testament to the value and desirability of our community.

That wraps up our market update for Richardson, Texas in January 2024. I hope you found this information helpful and insightful. Remember, whether you’re buying or selling, I am here to guide you through every step of the process. So, if you have any questions or are ready to embark on your real estate journey, feel free to reach out to me. Until next time, take care and happy house hunting!