What are Dallas County Real Estate Trends – Feb. 2013?
How’s the Market? Dallas County Real Estate is on an Upswing!
How’s the Market?
It’s getting better! But it’s much more complicated too. This chart is straight from the MLS , no projections, just actual information complied by NTREIS (North Texas Real Estate Information Systems). Dallas County sales are up almost 2% from last year which is good considering the time of year. Now is when things start to get interesting. Two important factors are necessary for continued success in the real estate market.
1. Will buyer pent up demand continue?
2. Will sellers put homes on the market?
If you look at year to date sales are almost 10% ahead of last year, my opinion is buyer demand will continue based on low interest rates and need. The most dramatic low inventory is about to drive everyone crazy, except for sellers that are getting the price they want and conditions met. Putting your home on the market earlier this year could be very advantageous.
Why?
Because of low inventory there is less competition and if you wait till schools out you will definitely have more homes to compete with in price and condition. It’s the simple equation of supply vs demand. The inventory drought is really the shock and awe of the market right now. Knowing the facts about your area and neighborhood could result in a quick sale. Would you believe closing in 30 to 60 days? Maybe sooner.
A Word about Pricing
Is 2005 pricing back? I wish it was but NO, its not – however median price is up almost 12% as well as pending sales. All this points to a positive market and the low inventory favors a sellers market. Dallas County Real Estate Trends are on an upswing! And if more sellers would join the market it would be even better because of inventory shortage. If you’ve been thinking about selling now could be the right time to start investigating your options.
About Terry W. Smith
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