The real estate market can be similar to a thunderstorm with sudden shifts in the pattern.
Understandingbrthe Tempestuous Real Estate Market
Sponsored bybrRoxann Taylor & Associates, Realtors
Submitted by RoxannbrTaylor
With thunderstorm season upon us, I can't help but think about ourbrlovely community — you never know just how big a thunderstorm is when you're inbrthe middle of it. The real estate market is like a thunderstorm in thatbrit can have sudden shifts and go in directions you least expect. I'd like to take you inside the storm to showbryou how Southlake compares to the rest of DFW and just how amazing it is to livebrin this great city of ours.
According to North Texas Real Estate Information Systems, there is an unbelievable increase of 70 percent from what it was two years ago. These are some great numbers!
By looking at the price breakdown in the Dallas-Fort Worth area, webrcan see when we start getting into the $700,000 and higher price range, thebrmonths of inventory increase. In thebrsimplest of terms, this means it would take 13.8 months to sell out of $1,000,000brhomes. Using the same criteria, look atbrthe same chart for Southlake, and see the months of inventory is 3.5. Wow!
Going back to an article I wrote at the beginning of this year, itbrlooks like many have taken my advice and gone “Allbrin.” Unquestionably, Southlake has incredible schools as evidenced bybrback-to-back UIL Lone Star Cup wins, whichbrmakes our community very desirable to people looking to move here. However, we currently have a void inbrinventory. Homes priced below $1,000,000brare dwindling at an astonishing rate. Asbrof this writing, there are only 33 active listings, a figure that is down frombran average of 150. Over the past month,brI have averaged 14 closings a week and have never witnessed this level ofbractivity in the market. For the firstbrtime, we are seeing 2.5 percent interest rates, and that is something I’vebrnever seen. In fact, we recently closedbrout a client for 1.78 percent on a $2,000,000 home. I’m coming up on 40 years in the real estatebrindustry, and in my entire career, I’ve never experienced this level ofbractivity or interest rates.
My message to you is to take advantage of the storm, and cash inbrnow.
~Roxann Taylor~
Roxann Taylor is a nationally-recognized real estatebrprofessional with involvement in well over 8,000 real estate transactions inbrher nearly four decade career. A major force in the marketplace with honesty andbrintegrity as her hallmark, she goes above and beyond the call of duty tobrdeliver superlative results every time. You'llbrfind yourself confidently referring her expertise to the service of othersbrwhile realizing your own real estate choices.