Welcome to the first episode of my new show!
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 How’s The Market? This is where I update you on the housing market in and around Arlington each week.
I hope you enjoy the first episode of How’s The Market?
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Hello, everyone, this is Keela McGraw, REALTOR® here in Arlington Texas with CearnalCo, Realtors and I have a market update here for you just to give you some information about the housing market in the great City of Arlington.
As you can see there are 516 new listings for the month and that’s actually up from last month where we had 487 new listings.
Active listings are homes that are actually available and not under contract yet and that number is 576.
As you can see here, there are 336 homes that are under contract which if you are a buyer that means you need to pull the trigger quickly because the homes are selling quite quickly.
Year-to-date, there have been 1,559 homes sold.
The average price of those home sold in May is $233,936. That is actually up from 2 years ago which the average home price was $193,000. So if you are in the market or possibly thinking about selling your home, now would be a great time to get a market value or an analysis of your home to see what your home is possibly worth because you probably have some really good equity.
The average days on market that a home is staying on the market is 20 days and that is down from 24 days this time last month.
Last, I want to talk about the months of inventory. With the months of inventory, if there were no more homes to hit the market, it would take approximately 1.7 months for all the homes in Arlington to sell. Now with that being said anything between 0 and 3 to 4 months is a seller’s market. It’s a neutral market meaning its balance between buyers and sellers if the months of inventory are between 4 and 7. Anything beyond 7 months of inventory is a buyer’s market. So with us having 1.7 months of inventory, it shows that it is a very strong seller’s market. I hope this information is helpful if you would like more information about the value of your home I’ll have a link here to give you some more information and I’d be happy to help guide you through this process.
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Do you want information on the housing market in your area? Shoot me a note on my contact page.
