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 January and the low number of homes currently on the market means there’s no reason to wait until spring to list a home for sale. The latest numbers from North Texas Real Estate Information Systems offer quite a compelling case for getting a head start on the potential competition.
A few of the highlights from January:
* The average sales price for a North Texas home is up 8.9% to $229,522.
* The average list price is up 11.3% to $313,663.
* The percent of original list price received is up 0.6% to 96.9% of asking price.
* Finally, the average time a home is on the market is up 4.8%, but still is only 42 days.
If you’re considering listing your home, contact an Ebby Associate to find out what your home is worth and to devise a plan to get your home not just on the market, but sold. To find the right agent for your residential real estate needs, visit the award-winning ebby.com.
Dallas-area home prices rose by 11.8% in February, according to a just-released report from CoreLogic Inc.
Texas has now made up all the home price declines the state suffered in the recession, according to the research firm. Nationwide, prices were up 12.2 percent from the same time a year ago.
“As the spring home-buying season kicks off, house price appreciation continues to be strong,” said Dr. Mark Fleming, chief economist for CoreLogic. “Although prices should remain strong in the near term due to a short supply of homes on the market, price increases should moderate over the next year as home equity releases pent-up supply.”
According to the report, the states still experiencing the largest home price decreases since the economic downturn are Nevada (-39.9 percent), Florida (-36.4 percent), Rhode Island (-30.9 percent), Arizona (-30.5 percent) and West Virginia (-26.6 percent).
To learn more about the housing market in your specific area of interest, contact an Ebby Associate today. To get started, visit the award-winning ebby.com.