Here is a brief video providing you with information on home sales and home prices in the Dallas/Fort Worth Metro area. The home sales numbers are great and surpass the best years in real estate during the mid 2000s. Additionally, home prices are on the rise which is currently driven by our supply and demand. Home inventories are low, in some areas below 2 months inventory. Home inventory refers to how long it would take to sell the existing homes for sale if no more properties became available. A normal market is 5 to 7 months of inventory and below 5 months inventory is a seller’s market. The low inventory situation is causing prices to go up and homes to sell fast. Good new for sellers and more of a challenge for buyers. Serious buyers need to be pre-approved and have their financing in order, so they can make a strong offer and are ready to make an offer when they find the right home. Buyers who wait too long to make an offer are at risk of losing their dream home. If you need someone who has expert knowledge of our area real estate market conditions, contact the Sullivan and Sullivan Team at 817-330-9235.
Visit www.SullivanDFWHomes.com
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