Hot housing markets don’t last forever – six reasons why now is a great time to sell Dallas – Fort Worth Home

1. Hot housing markets don’t last forever the combination of low inventory and high demand is great for sellers

Dallas – Fort Worth single-family home sales have increased over 8 – 11% year-after-year. We’re also seeing in influx of back-up contracts, bidding wars and homes closing materially over asking price.

2. Prices are rising

The average price of a Dallas – Fort Worth single-family home increased 11 percent to $298,356 back in March of 2017. And prices are only continuing to rise as of January 2018.

 

Since 2017

• 9,573 Homes have sold for 12 percent higher than asking.
• $240,000 has been the Median sales price for homes.
• $293,356 has been the Average sales price for homes, with an 11 percent increase monthly of housing inventory.
• 47 is the Average number of days homes have spent on the market.
• There have been around 17,818 Active listings on the market
• $128 is the Average price per square foot for a single-family home.

 

Sales for single family homes that sold in 2017 beat the previous record set in 2016 by more than 1,000 units, which is a whopping increase of 13.3 percent.

Here was the Median sales price for single family homes in 2016.

• June 2016’s Average sales price for homes was $289,204
• July 2016’s previous record was set to $237,000
• Number of active listings in 2017 beat out 2016 market by more than 1,000 homes.
• Average price per square foot for a single-family home in 2016 was $124 per square foot.

So, you can see that this market shows no signs of slowing…

3. Interest rates are still at historic lows

Low interest rates (around 3.5-4% now) are helping Dallas – Fort Worth residents buy more home for their money. Which is a cause for many to relocate to DFW.

 

4. More people are coming to Dallas – Fort Worth

Approximately 1,200 -1,400 people PER DAY are moving to Dallas – Fort Worth. tremendous amount buyers who are relocating to DFW, or with big communication and technology companies.

 

5. Additional homes should come on the market (increasing supply)

Builders are frantically buying lots in an effort to increase supply. It’s also likely that more homeowners will list their homes for sale in the spring. So, you have somewhat of an advantage now. 

 

6. Limited risk to selling your home now

Given the limited inventory and strong buyer interest (as long as you don’t dramatically overprice your home), you’re in a great situation to test the market and sell your property.