Dallas Area Residential Sales Report – Prosper, Texas

The real estate market is showing some interesting trends based on the current metrics. The Months Supply of Inventory is at 5.56, indicating a balanced market where supply and demand are relatively equal. However, the 12-Month Change in Months of Inventory has seen a significant increase of +57.06%, suggesting a potential shift towards a buyer’s market in the near future.

The Median Days Homes are On the Market is 74, which is a relatively short amount of time compared to national averages. This indicates that properties are selling quickly in this market. Additionally, the List to Sold Price Percentage is at a strong 96.9%, showing that sellers are able to achieve close to their asking price on average.

Lastly, the Median Sold Price is $807,500, which is a healthy figure for the market. This suggests that properties are selling at a good value and that there is demand for higher-priced homes in this area.

Overall, these metrics paint a picture of a market that is currently balanced, but with potential shifts on the horizon. Buyers can expect to find properties selling quickly and at close to asking price, while sellers may need to adjust their expectations slightly as the market evolves.