How Hot is the Mansfield Housing Market? | How’s The Market? #10

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 of How’s The Market? This is where I update you on the housing market in and around Arlington each week.

Today, we’re looking back and the housing market activity in Mansfield for the month of August.

I hope you enjoy this episode of How’s The Market?

[bg_collapse view=”link” color=”#4a4949″ expand_text=”CLICK TO READ VIDEO TRANSCRIPT” collapse_text=”CLICK TO HIDE VIDEO TRANSCRIPT” ]

Hi I’m Keela McGraw with CearnalCo, Realtors with a market update and this market update will cover the City of Mansfield Texas and it’s for the month of August 2018.

In August, there were 138 new listings in Mansfield. That’s not too much of a difference from August of 2017 were there were 144 new listings.

As far as active listings in Mansfield, there were 273 active listings. That’s not too much of a difference from 265 active new listings in August of 2017.

Under contract in August of 2018 there were 94. That is actually up just a tad bit from August of 2017 where there were 91. From January through August of 2018, there have been 834 homes that have sold in Mansfield. That is actually up just a little bit from August of 2017 when we had 830 homes that sold from January through August.

The average sales price in the City of Mansfield has actually gone up. Its currently $301,264 for the month of August. In 2017, that number was $286,601.

And then last but not least to talk about the average days on market. There were 35 average days on market for the homes for sale in Mansfield in August 2018. That number is up from 30 in August of 2017.

Months of inventory, we have 2.7 months of inventory in Mansfield.

Anything from 0 to 4 is considered a seller’s market. 4 to about 7 is considered a neutral or balanced market and anything more than 7 months is considered a buyer’s market.

So in the City of Mansfield your homes are staying on the market on average, about 35 days. You have 2.7 months of inventory which means that it if there were no more homes to hit the market in August, that would take about 2.7 months to completely sell out of all the homes in Mansfield. If your home is staying on the market for longer than 35 days there are four things that you can consider.

You can sit consider the location which you can’t do a whole lot about that but kind of help with the curb appeal. The condition of your home – the condition of your home, you can get ideas from going to open houses or looking on Pinterest and getting some ideas on how to add value in a way that you will see a return. Your professional presentation can be discussed with your Realtor on how they’re getting your home in front of as many buyers as possible. And last but not least I know you don’t like to talk about it, but if nothing else is working out of those three, then you can also consider a price adjustment or modification.

This is Keela McGraw with CearnalCo Realtors. I am happy to help you with all of your home needs if you need any recommendations for contractors or if you just want to know the value of your home, please reach out to me I’ll be glad to help you.

If you’re in the market to purchase a home I can help you with that also. As you can see we’re kind of leaning more towards a more neutral market which gives buyers a little bit more leverage.

Thanks for listening.

[/bg_collapse]

—

Do you want information on the housing market in your area? Click here to contact me.