How Is The Real Estate Market?
Everyone’s favorite question is how is the market? You may have heard the North Texas real estate market condition is red hot. It is indeed a very good time to list your home for sale and the mid year MLS year to date statistics back it up. This year to date summary for the entire MLS area shows the following:
- The average price of a single family home is $260,710
- Prices are up 9% year to date
- It is taking an average of 48 Days On Market (DOM) to sell a home, a decrease of 11%
- Active listings are down 15% so price pressure will only continue.
Remember that these statistics are for the overall area served by the North Texas Real Estate Information System (NTREIS) vs. the Van Alstyne area. There are many areas like McKinney where quality homes are selling in several days for above list. One comment I get a lot is, “we will just rent until the market cools down”. Notice that rentals are also up 7% at $1,588 so you may find that perfect rental property is also a hot commodity.
If you are thinking of selling your home or buying a home in any of the cities close to Van Alstyne give me a call. I will explain the current market for exactly where you live and answer any questions you may have on how to structure an offer or preparing your listing.
