Howdy neighbors!
With the recent storms rolling through North Texas, it’s a good reminder of the importance of a strong foundation (both in your home and your real estate decisions!) But the weather isn’t the only thing heating up – the North Texas housing market is still sizzling.
In this newsletter, we’ll visit about the current market conditions, whether you’re a buyer looking for your dream home or a seller capitalizing on the hot demand.
For this week’s video, let’s explore our newest listing in Rowlett, Texas.
Imagine waking up in your own private oasis – a meticulously crafted, NORTH-FACING custom home on a half-acre lot steps from the sparkling shores of Lake Ray Hubbard. Privacy is yours, with no neighboring homes and no HOA!
Our Hottest Listings
We have several listings coming soon in the North Texas area between $500k-$850k, between 1600 sq ft – 3700 sq ft. If this size home interests you, just email us or call us we’re excited to give you the info.
Market Update
🏡 For Sellers:
- Robust Selling Environment: Despite a slight dip in median prices from last year, the increase in market share within the $500,000 to $749,999 range and a significant uptick in closed sales (+12.1% from last year) indicate strong buyer activity and selling opportunities.
- Advantageous Market Conditions: With months of inventory rising to 2.8 from 1.7, indicating more balanced market conditions, now is an ideal time to list. Faster sales and an increased number of active listings suggest a receptive market for new properties.
🏡 For Buyers:
- Increasing Prices Amidst Tight Competition: The median price shows a decrease of 3.9% compared to last year, suggesting a slight easing in pricing. However, the substantial increase in active listings indicates a competitive market with more options.
- Market Dynamics Demand Quick Action: With a faster pace of sales and fewer days on the market combined, buyers need to act swiftly and prepare for negotiations to secure properties in this active market.
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April 2024 shows a dynamic and evolving real estate market with more active listings and an increased pace of closed sales, reflecting both opportunities and challenges. While buyers might find more properties available, the overall competition and quick sales cycles require decisive action. Sellers can benefit from the current market dynamics, with a higher volume of transactions and a steady demand, especially in mid-range price segments. Strategic pricing and understanding market trends are crucial for both buyers and sellers to navigate this active market effectively.
Remember, every property and situation is unique. For tailored advice and insights into how these trends affect your specific real estate goals, feel free to reach out or schedule your free real estate consultation with us…
Stay informed, stay ahead, and let’s make your real estate dreams a reality in Collin County!
Have an amazing and fun weekend!
JUAN & BETTINA | BLOG POST
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