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July 2024 Real Estate Market Update: Trends and Insights for Collin, Dallas, Henderson, Hunt, Kaufman, Rains, and Rockwall Counties!
As we step into the heart of summer, the real estate market across several key Texas counties—Collin, Dallas, Henderson, Hunt, Kaufman, Rains, and Rockwall—is showing some dynamic trends. The latest statistics reveal both opportunities and challenges for buyers and sellers alike.
Key Market Statistics and Trends
Total Closed Sales Count: 3,386 (Up 23%)
Total Pending Sales Count: 4,508 (Up 23%)
Total Active Listings Count: 10,092 (Up 11%)
Months of Inventory (Average): 4 months
Days On Market (Average): 56 days (Down 8%)
Sale Price to List Price (Average): 95% (Up 2%)
What This Means for Buyers
For buyers, the upward trend in both closed and pending sales indicates a highly active market. With 4,508 pending sales, competition is fierce. The slight increase in total active listings (11%) provides more options, but the reduced average days on market (56 days) means these properties are being snapped up quickly. Buyers need to be prepared to act fast and make competitive offers to secure their desired homes.
What This Means for Sellers
Sellers in these counties are experiencing favorable conditions. The increased sales activity suggests high demand, and with the average sale price at 95% of the list price, sellers are getting good returns on their properties. The decrease in average days on market (down 8%) means homes are selling faster, reducing the time and cost associated with keeping a property on the market.
Tailored Market Insights and Complimentary CMA Offer
Understanding these trends is crucial whether you're looking to buy or sell. Each county has its unique market dynamics, and having a precise, localized analysis can make all the difference. If you're considering a move, let me provide you with a complimentary Comparative Market Analysis (CMA). Whether for your property, neighborhood, or even a city not listed above, a CMA will give you a clear picture of the current market value and help you make informed decisions.
Contact Amanda Allen at Coldwell Banker for your personalized market analysis and take the next step towards achieving your real estate goals.By keeping a close eye on these trends, you can navigate the market with confidence, ensuring that your real estate journey is both successful and rewarding.
© 2024 Amanda Allen, Coldwell Banker. All rights reserved.
Amanda Allen
Coldwell Banker Realtor, Heath TX
GRI,MRP,SFC
(903) 603-0648
