North Texas Real Estate Market: 90-Day Trends and 24-Hour Activity Snapshot
(Buyers Advantage E-Book available below)
90-Day Real Estate Trends: North Texas Counties Overview
Over the past 90 days, the North Texas real estate market, covering Collin, Dallas, Henderson, Hunt, Kaufman, Rains, and Rockwall counties, has experienced a noticeable slowdown. Total closed sales averaged 6,212 per month, reflecting a 12% decline, indicating reduced market activity. New construction sales also faced a sharper downturn, with an average of 988 closed sales per month, down 14%, suggesting buyers may be exercising more caution in this segment. Meanwhile, pre-owned sales averaged 5,083 closed transactions per month, representing an 11% decline, further highlighting an overall softening in market momentum.
Pricing trends in the North Texas real estate market reveal a mix of stability and slight shifts over the past 90 days. The average sales price for new construction stood at $332,651, reflecting a modest 1% decline, indicating relatively stable but slightly pressured pricing. Pre-owned sales followed a similar pattern, with an average price of $319,870, also down 1%, showcasing consistent buyer expectations. However, the average price per square foot saw a 1% increase, reaching $142, which highlights a positive trend and suggests growing value for properties on a per-square-foot basis.
24 HOUR SNAPSHOT:
Over the past 24 hours, 52 new listings entered the market, providing a variety of options for prospective buyers. Additionally, 20 properties returned to active status after previously being off-market, offering renewed chances for interested parties to secure a deal. Looking ahead, 6 properties are marked as "Coming Soon," creating anticipation for agents and buyers eager to explore new possibilities.
Pricing adjustments: Over the past 24 hours, 72 listings underwent price decreases, signaling increased motivation among sellers and presenting potential value opportunities for buyers. In contrast, 6 listings saw price increases, likely driven by strong interest or distinctive property features that justify higher asking prices.
Contract movement: Currently, 3 properties are under an active Kick Out (KO) contract, meaning they are contingent on certain conditions, keeping buyers on alert. Additionally, 43 properties are in their option period, where inspections and negotiations play a crucial role in determining the final outcome. Another 11 properties are marked as active contingent, indicating ongoing negotiations or pending conditions that need to be met before closing. Meanwhile, 62 properties are in a pending status, moving steadily toward closing, highlighting strong buyer engagement and a healthy market flow.
Finalized transactions: Over the past 24 hours, 28 properties successfully transitioned to new owners and closed and funded!
Off-market activity: In the past 24 hours, 45 properties experienced expired listings, failing to sell within their listing period, which may result in them re-entering the market or temporarily being taken off. Additionally, 10 properties were canceled, reflecting changes in seller plans or intentions. One property was withdrawn, temporarily pausing market activity and leaving future decisions uncertain. Meanwhile, 8 properties are on hold, potentially awaiting updates or decisions from the seller before taking further steps in the market.
This snapshot highlights a high level of activity, particularly with price decreases outpacing new listings. Buyers are being given opportunities to capitalize on competitive pricing, while sellers are adjusting strategies to attract interest. The robust pending and closed numbers demonstrate healthy buyer engagement despite some market softening evident in expired and canceled listings.
"The real estate market is like the tide – it ebbs and flows, but with the right insight and strategy, you can always find the right moment to make your move."
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