Hi everyone, I’m Marie Walton, a REALTOR® with Ebby Halliday REALTORS, here in Denton, Texas today. I want to give you all a market update for July 2024. Whether you’re a buyer or a seller, this information is crucial for making informed decisions in the real estate market.
Let’s start by looking at the current inventory in Denton. Right now, we have a 3.44 Months Supply of Inventory. This means that if no new homes were to come on the market, it would take just over 3 months to sell all the homes currently listed. Over the last 12 months, we’ve seen a 29.32% increase in the Months Supply of Inventory, which could indicate a shift in the market.
Next, let’s talk about List to Sold Price percentage, which is currently at 99%. This means that on average, homes in Denton are selling for 99% of their listing price. This high percentage is a good sign for sellers, as it shows that homes are selling close to their asking price.
The median days on market in Denton is currently 29 days. This is the amount of time it takes for a home to go from being listed to being sold. A lower number of days on market typically indicates a strong seller’s market, where homes are selling quickly.
Finally, the median Sold Price in Denton is $375,000. This is the middle price point of all homes sold in the area, with half of the homes selling for more and half selling for less. Knowing the median Sold Price can give you a good idea of the overall market value in Denton.
Overall, the real estate market in Denton is showing some interesting trends. If you’re thinking of buying or selling a home in the area, now is a great time to make a move. Feel free to reach out to me at 972-816-5197 for more information or to schedule a consultation. Thanks for dropping by, and I’ll see you next time with more market updates. Stay tuned!
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Marie Sells Dallas 