What does the DFW real estate market look like right now? Keep reading to find out.
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I’ve been getting a lot of questions recently from a lot of you about the current state of our real estate market. There are four key factors that do a pretty good job at explaining where we’ve been and where we’re headed:
1. Active listings. So far, we’ve had an average of just over 23,000 listings on the market, which is up just over 23% from what we saw in 2018.
"The market is up 2% in average sale price year over year."
2. Days on market. This is a measure of how long it takes for a home to find a buyer after it goes active on the MLS. The average has gone up by 14% year over year, going from 49 last year to 56 this year.
3. Average sales price. The average price is up from $301,000 to $307,000—a 2% year-over-year increase.
4. Interest rates. They’ve fallen below 4% for the first time in over two years. This should get a lot of homebuyers off the fence!
The first two factors indicate that the market has started to stabilize into more of a traditional market. The last two indicate that this is still a strong market for buyers and sellers alike.
If you're looking to buy or sell, now might be a better time than ever. Don’t hesitate to give me a call or send me an email today if you have any questions. I look forward to hearing from you soon.