Hey there! The single-family real estate market in Providence Village, TX, was a bit of a mixed bag in July, but it’s definitely leaning in the buyer’s direction.
Here’s the scoop:
- Prices are cooling down: The median sold price for homes was around $300,000 to $350,000, but some reports show it’s trending down compared to last year. It seems like sellers are having to be more flexible, as homes are selling for a bit below their asking price on average.
- Homes are sitting longer: Properties aren’t flying off the market as quickly as they used to. The median “days on market” has increased pretty significantly compared to last year, which gives buyers more time to look and make a decision.
- More homes to choose from: The number of homes for sale is up, which is great news for buyers. While there are still plenty of people looking to buy, the increase in available homes is starting to shift the balance of power. This is why it’s generally considered a buyer’s market right now.
- A lot of new construction: You’ll find a ton of new construction homes being built and ready to move into, which is adding to the inventory and giving buyers more options.
So, if you’re a buyer, this is a more favorable time than it has been in the past. If you’re selling, you might need to be prepared for your home to be on the market for a bit longer and be open to negotiating on the price.
Marie Sells Dallas 