Hi everyone, I’m Marie Walton, a REALTOR® with Ebby Halliday REALTORS, and I’m here to give you a market update for Northrich in Richardson, TX as of February 2024. Whether you’re a buyer or a seller, this information is crucial for making informed decisions in the real estate market.

Let’s dive into the numbers. Currently, we have a 1.75 Months Supply of Inventory in Northrich. This means that if no new homes were added to the market, it would take 1.75 months to sell all the existing homes. Over the last 12 months, we’ve seen a +33.59% increase in Months Supply of Inventory, indicating a shift in the market.

Next, let’s talk about List to Sold Price percentage, which is currently at 96.9%. This percentage represents how close homes are selling to their listing price. A high percentage like this shows that homes are selling close to their asking price, which is great news for sellers.

The median days on market in Northrich is 55 days, which means that half of the homes are selling in less than 55 days. This is a key indicator of how quickly homes are moving in the market.

Lastly, the median sold price in Northrich is $357,500. This is the middle point of all the sold prices in the area, giving you an idea of the market value of homes in Northrich.

So, what does all this mean for you as a buyer or seller in Northrich? It’s important to stay informed about the market trends so you can make the best decisions for your real estate transactions. If you’re thinking about buying or selling a home in Northrich, now is the time to reach out to a REALTOR® who can guide you through the process.

Thank you for dropping by for this market update. If you have any questions or would like more information, feel free to contact me at Ebby Halliday REALTORS. Stay tuned for more updates and tips on the Northrich real estate market. Happy house hunting!