Is Arlington’s Hot Housing Market Beginning to Cool Off? | How’s The Market? #13

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 Arlington aka The American Dream City for the month of November 2018.

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” ]

Hello this is Keela McGraw with CearnalCo Realtors Realtors with a market update. This market update will be for the month of November in Arlington, Texas.

For the month of November 2018 there were 406 new listings. That number is up from November 2017 where there were 330.

Active listings – in 2018 of November 701. That number is also up from this time last year. And then we have 297 homes that have gone under contract. That number is actually down slightly. So you have more homes hitting the market but less going under contract.

Here so far from January to November there have been 3933 homes that have sold in Arlington. That number is actually down from November 2017 where they were 4128 homes sold from January through November.

The average price sales price of homes is up about 8% in 2017 of November it was $260,027 and now in November $232,992 dollars so a nice increase there.

Average days on market – so the homes are staying on the market a little bit longer. On average about eight days from November of 2017 to November 2018.

And last but not least let’s talk about the months of inventory. Since August through November, the months of inventory in Arlington has been flat at 2 months and what that simply means is if there were no more homes to hit the market it would take about two months to sell every home in Arlington.

So as you can see this is still a seller’s market. If anything between 4 to 7 months is considered a balanced market and anything more than seven months is a buyer’s market. So we have kind of flatlined in Arlington but it’s going to..I think… I can’t predict the future but I believe that this will start to inch a little bit closer to more of a balanced market.

So if your home is staying on the market for longer than 36 days there are four things that you could consider: the location, the price, the physical condition of your home and the professional presentation.

So the location you can’t do a whole lot about that. But you can spruce it up with some nice curb appeal.

The condition: of course you can do some updates to your home. I always like to go to Pinterest and get some ideas or simply look at some model homes and get some ideas.

Professional presentation: You want to contact your Realtor about how they are presenting and marketing your home. Hopefully they are getting your home in front of as many buyers as possible.

And last but not least, the thing that we don’t like to talk about is changing the price. Sometimes you need a price adjustment just to see how the market is responding.
So again this is Keela McGraw .I hope this information is helpful if I can help you in any way with a market analysis of your home I’d be happy to do that I will have my contact information below. Thanks

[/bg_collapse]

—

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