Is Mansfield’s Hot Housing Market Cooling Off? | How’s The Market? #12

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 November 2018.

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

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Hello, this is Keela McGraw with CearnalCo, Realtors and I am here with a market update for the City of Mansfield in November of 2018. In November 2018 in Mansfield, there were 104 new listings. That number is slightly up from November of 2017. There were 228 active listings, That number’s also up slightly from 214 in November 2017. Under contract – 79 homes were under contract. That numbers also up.

Here we have homes that have sold year-to-date. So from January through November of 2018 there were 1120 homes that sold in Mansfield. That number’s up slightly from 1115 in 2017.

Average sales price for homes in Mansfield is $305,684 in November. That number is up about 5% from November of 2017.

Average days on market is 43. Unfortunately, that number is a little bit up from 38 in November of 2017.

And then here we have our months of inventory. So in Mansfield, 2.2 months of inventory is still showing a seller’s market. Anything between 0 to 4 months is considered a seller’s market, 4 to 7 months is a neutral or balanced market and anything more than 7 months is considered a buyer’s market.

So in Mansfield, Texas, it would take about 2.2 months for every home to sell and there will be no more inventory. So that’s how you measure the months of inventory.

If your home is staying on the market for longer than 43 days, then there are some things that you can consider. One is the location, second the condition, third the professional presentation and then fourth, the price.

So the location – you can’t do a whole lot about the location, but you can spruce up your curb appeal or do some different things to make it more appealing to buyers.

Also the condition – so there are some things that you can do with the condition. I always like to look on Pinterest for great ideas or go visit to model homes and some of these different communities that are sprouting up.

Also you will also want to consider the professional presentation. That is simply how your Realtor is presenting your home, that product, to potential buyers.

Again if your home is on the market for longer than 43-ish days, then there the things that you may want to consider.

Last but not least we may need to make some price adjustments to your home just to make it more in sync with what the market is demanding.

So again this information is for Mansfield, Texas. My name is Keela McGraw. If I can help you in any way with the value of your home or if you are interested in purchasing a home I’m happy to help my information is below and have a great day.

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