Hello, and welcome back to our monthly market update here in Princeton, Texas. I’m Marie Walton, your local REALTOR® with Ebby Halliday REALTORS. Today, we’ll be diving into the latest data to give you a comprehensive overview of the current real estate market in our area.
Let’s start by looking at the Months Supply of Inventory, which currently stands at 3.09 months. This means that at the current rate of sales, it would take just over 3 months to sell all the homes on the market. Over the last 12 months, we’ve seen an increase of 72.63% in Months Supply of Inventory, indicating a shift towards a more balanced market. But we are only half way to the 6 months considered a balanced market.
Moving on to the List to Sold Price percentage, we are currently at 97.8%. This shows that on average, homes are selling for just under 98% of their listing price. Sellers can feel confident that they are getting a strong return on their investment in our current market.
Next, the median days on market is 26 days. This means that half of the homes are selling in less than a month, which is great news for sellers looking to move quickly. Buyers should be prepared to act fast in this competitive market.
Finally, the median sold price in Princeton is $350,990. This is a strong indicator of the overall health and stability of our market, showing steady growth in home values over time.
Whether you’re a buyer or a seller, now is a great time to make a move in Princeton, Texas. If you have any questions or are ready to take the next step in your real estate journey, don’t hesitate to reach out to me. I’m here to help you navigate the market and achieve your real estate goals.
Thank you for dropping in to our market update. See you next time!
Marie Sells Dallas 