Act Now to Get Ahead of Spring Home Market


	Act Now to Get Ahead of Spring Home Market

 

What was once considered real estate wisdom – the ideal time to list your home for sale is the traditional spring selling season – is no longer true for North Texas homeowners.

 

“Year-over-year home sales for December and the current low inventory of homes available to purchase indicate there is no reason to wait until spring to list your home for sale,” says Mary Frances Burleson, president and CEO of Ebby Halliday Realtors. “The latest numbers from North Texas Real Estate Information Systems offer a very compelling case for those sellers who would like to get a head start on the competition.”

 

A few of the highlights from the NTREIS numbers for December 2016 vs. December 2015 include:

 

*  The average sales price for a North Texas home rose 7.4 percent to $281,596.

 

*  Inventory was down 12 percent to 2.2 months supply.

 

*  The number of homes for sale was down 10.5 percent.

 

*  Finally, the average time a home was on the market was down 4.1 percent to 47 days.

 

“These numbers make it clear that the winter of 2017 offers the ideal climate in which to list a North Texas property for sale,” Burleson says. “Potential sellers should act now to get ahead of the traditional spring market.”

 

If you’re considering listing your home, contact an Ebby Associate to learn more about the real estate market in your neighborhood and to find out what your home is worth in today’s fast-paced market. To find the right agent for your residential real estate needs, visit the the all-new, mobile-friendly ebby.com.

 

The Best Day to Buy a Home?


The Best Day to Buy a Home?

 

If you’ve ever bought a home, it’s likely you’ve heard that it’s better to buy in the fall and winter months to get the best deal – given less competition from other buyers in these months when families are entrenched in the back-to-school schedule.

 

But is this conventional wisdom really true? Yes, but with some glaring exceptions.

 

RealtyTrac analyzed more than 32 million home sales and below is what they found.

 

The best month to buy a home?

October.  Of the 2.7 million sales closed in October over the past 15 years, the average sales price was 2.6 percent below the average estimated full market value at the time of sale.

 

Following October as best months were February, July, December and January – all fall or winter months except for July, which was definitely a surprise.

 

The best day to buy?

Monday. Out of 5.5 million home sales over the past 15 years that closed on Monday, buyers realized an average discount of 2.3 percent below full estimated market value at the time of sale.

 

Friday is the second-best weekday to close on a home purchase. Buyers who closed on Friday realized an average discount of 2 percent.

 

The best day of the year to buy?

October 8. According to RealtyTrac data, on average, buyers have purchased 10.8 percent below market value on October 8, followed by November 26 (10.1 percent below market value), December 31 (9.7 percent below market value), October 22 (9.6 percent below market value), and October 15 (9.1 percent below market value).