🥰Dream Home or Investment Property and a Fantastic Interest Rate in Melissa, Texas + Market Update | Home Star Sellers

 For Sellers:

• Strong Market Activity: Despite a slight decrease in median price, the significant increase in closed sales (+8.4% from last year) and active listings indicates a robust selling environment.
• Optimal Selling Opportunities: With an increased months of inventory up to 4.0 from 2.7, the market is less tight than last year, suggesting a more balanced environment that may still favor well-priced listings due to ongoing buyer interest.

 For Buyers:

• Greater Selection, Increased Competition: The median price has decreased by 1.5% compared to last year, offering a slight relief in pricing. However, a substantial 41.5% increase in active listings means more choices but also heightened competition.
• Market Dynamics Demand Flexibility: With an extended total transaction time of 90 days (days on market plus days to close), buyers need to be adaptable and prepared for negotiations to secure their preferred properties in this bustling market.

—
April 2024 illustrates a market in transition with more active listings and a higher volume of closed sales, pointing to an active but slightly more buyer-friendly environment compared to the previous year. The increase in overall transaction time and the slight softening in prices provide buyers with more leverage and choices. Sellers should leverage the increase in market activity by listing properties strategically to attract the heightened buyer interest. Both buyers and sellers must navigate this dynamic market with informed strategies and timely actions to capitalize on the evolving opportunities.