Steady as she goes – the theme of September. A full week of rain did not slow down the housing market. We’re sitting at a 6% sell through per week or 24% per month. That means at the current market sales percentages, that means our market has a 3.67 month supply of homes. Anything under a 5-6 month supply is still a seller’s market. That being said, the higher price points and farther out suburbs in the North Texas area have been moving towards a buyer’s market steadily this year.
Over this fall, patience is a virtue. When the market is shifting, offers still come, however buyers are slower to make decisions. Showing traffic is typically slower in the Fall and the buyers that are viewing are more motivated than the “Looky Lou’s” of Summer. We purposely follow up on every showing to make sure we know what buyers are thinking, so that the Seller can make an informed and educated decision on their next steps. We are reviewing our sellers each week and are taking steps to switch up marketing, target demographic, condition, photos and pricing.
The moral of the story: If you aren’t seeing the traffic you expected from spring or last year, this isn’t saying your home won’t sell, it’s just might take longer.
Make sure to ask our team member that you’re working with for your custom home strategy.
Seychelle and the Van Poole Team