Hi there, Arlington!
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.
This week, we’re looking back at the housing market activity in Kennedale for the month of July.
I hope you enjoy this episode of How’s The Market?
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This is Keela McGraw with CearnalCo, Realtors with another market update.
This market update is for the month of July for the city of Kennedale Texas.
For the month of July in Kennedale, there were 16 new listings. That is actually up from this time last year where there were 12 new listings in Kennedale.
Active listings: 31 active listings. That’s only 3 down from this time last year with 34.
Then under contract, there are 13 homes that went under contract in July. That is actually up significantly from this time last year were there only 4 homes in the month of July that went under contract.
As far as homes that have sold, so far through July, there are 80 homes that sold in Kennedale from January to July of 2018. That is actually up from this time last year with that same span of months where were only 74.
The average sale price of homes in Kennedale for the month of July was around $296000. That is actually up significantly from this time last year where the average home price was around $263,000. So all of my Kennedale homeowners, this would be a great time for you to get a home value report. I provide those free so send me an email and I’m happy to help you.
Average days on Market in Kennedale for July was 32. That is up unfortunately from this time last year where there were 22 average days on market for the homes.
Last but not least let’s talk about the months of inventory. In Kennedale, the months of inventory is right around 2.7. That is still a seller’s market. Not a strong seller’s market but it is still as sellers market. and what I mean by months of inventory is if there were no more homes in Kennedale to actually hit the market, it would take about 2.7 months for every home in Kennedale to sell. So as you can see it is considered a seller’s market if it is 0 to 4 months. Anything between 4 to 7 months is considered a neutral or balanced market and anything more than 7 months is considered a buyers market. so if your home is sitting on the market for more than 30ish days there are four things that you can consider:
- the price
- the location
- the condition;
- and the professional presentation of your home.
So the professional presentation is basically you working with your REALTOR® on how to get your home in front of as many buyers as possible.
Location, you can’t do a whole lot about the location, unfortunately, but there are some things that you can do to hopefully improve the condition of your home. Just go visit some open houses get on Pinterest. I love Pinterest personally, and look at some ideas for your kitchen and bathroom so you get the most bang for your buck.
And last but not least we don’t like to talk about the price, but it may be time to make a price adjustment if that home has been sitting and not getting a lot of traffic.
Again this is Keela McGraw with another market update for the month of July and this is for Kennedale, Texas. Thanks
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Do you want information on the housing market in your area? Click here to contact me.
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https://www.keelamcgraw.com/htmvalue
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