Hi there!
As a REALTOR®, one of the most frequent questions I’m asked is, “How’s The Market?”
As I answer the question for a number of people, I thought this would be information helpful to share on a broader scale.
So, welcome to another edition How’s The Market? This is where I update you on the housing market in and around Arlington each week.
This week, I’m sharing information on the City of Mansfield! Watch by clicking on the video below.
I hope you enjoy this episode of How’s The Market?
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Hi I’m Keela McGraw, REALTOR® with CearnalCo, REALTORS® hereThe realtor with a market update for the great City of Mansfield Texas.
In Mansfield, there are 174 new listings, 245 active listings, and 134 homes that are currently under contract.
There are 452 homes that have sold so far this year. The average sales price of those homes are around 295,000. That is down actually from last year this time when the average home price was $305,000.
The average days on market is 29 days. That is up actually from this time last year with the average days on market being 25 days.
If you look down here you can see that we are in a seller’s market. It simply means that if there were no more homes to hit the market, in about two and a half months all the homes in Mansfield with would be sold.
If you have 4 to 7 months of inventory that means it’s a neutral or balanced market for buyers and sellers.
If there are more than 7 months of inventory than it is a buyer’s market.
So what is this say for homeowners? If you currently have a home that is on the market for more than 29 days there for things that you could consider:
- One is the location.
- Price is the second thing.
- Third is (your home’s condition)
- The last thing is professional presentation.
So the location you can’t do a whole lot about that. You can change the curb appeal and kind of tell people about the home, but not a whole lot you can do about that.
Professional presentation is something your realtor can help you with. Making sure that your home is getting in front of as many buyers as possible.
The third thing is the condition of your home. It would be a good idea for you to go visit some open houses in your neighborhood to get an idea of the types of finishes that are in those homes. If you see a lot of homes with granite in the kitchen and your kitchen does not have granite, you may want to consider the cost of installing granite if that’s a cost-effective thing to and will add enough value while not digging into your equity too much.
You may want to consider just making a small price adjustment just to get your home sold.
If you want more information about the value of your home I’d be happy to help you please click the link below and I can I send you some information about the value of your home.
If you’re a buyer in this market is so strong it’s still a very strong seller’s market as you can see. So if you see a home that you’re interested in, you need to act quickly! I hope this information is helpful.
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Do you want information on the housing market in your area? Click here to contact me.
