Q1 2015 DFW Housing Market Update
The market is in full Spring-time swing, and things are just as hot as they were this time last year. Let's take a look at the current market stats:
Days on Market:
Median days on market rose 11.5% DFW wide to 29 days. That's not too bad. Sellers can expect to sell in less than 30 days if priced correctly. Buyers need to jump on properties quickly in order to find themselves in the home they want.
The amount of residential real estate for sale fell another 13.9% to 3.1 months. This is still a low since the bubble burst in 2007-2008, and the key indicator to follow for price appreciation. Anything below 4-5 months represents a "seller's market".
The story that everyone always wants to know is "Where are home prices?" Well...they're up! DFW's median home price rose another 7.9% in Q1 2015 to $189,900. Buyers should buy now!
Sales have definitely slowed, even though consumer confidence remains high. Only up 1.6%, 90,263 residential sales occurred in DFW over the past 12 months. Sales remain flat mainly because inventory is so low.
Advice for Buyers:
If you have been wanting to buy...BUY NOW! Don't wait any longer. It will only become more expensive over the coming years with rising prices compounded by rising mortgage rates. In addition, rents have been on the rise as overall housing inventory shrinks.
Our VIP Buyer Program will take care of your entire buying strategy, including inspections, appraisals, financing, insurance, etc. We will help you find the best home while saving you $1000's in unnecessary expenses.
Start you home search today at
Advice for Sellers:
If you've been waiting for prices to increase, here we are! Take advantage of this great seller's market and get top price for your home!
We're so confident that we can sell your home in 59 days, we guarantee it. We offer a list of innovative services that the average real estate agent doesn't have to offer. If you've been wanting to sell, call us today!
Thinking about selling? Get a FREE home value report
Scott Neal Real Estate