We are at an all-time high on property inventory. That being said, we are still in a balancing market with less than 3-4 months supply of homes in most price points. This feels like a significant shift as the Dallas/Fort Worth market has been in such a strong seller’s market for the past 5 years.
Pro tip #1: With days on market on the rise, make sure to consider property condition and keep the property fresh with regular cleaning. We are seeing homes look “tired” on the market right now, and that is in large part to it being easy to keep a home spotless for 2-3 weeks, and much harder to maintain over 120-180 days. Scheduling regular maid service to deep clean every other week helps tremendously as the market shifts.
Pro tip #2: We are making reverse offers to buyers who may be sitting on the fence. As a seller, this doesn’t mean you are desperate, it just means you are willing to start a dialogue as a realistic seller.
Pro tip #3: As a buyer, there is more inventory out there than there has been in over a decade, be willing to be creative and open minded if the home has 80-90% of what you want and just needs a little bit of work to take it the extra mile.
The housing market is still strong, homes are still selling, our job market is hot – make sure to plan ahead and take advantage of the recent interest rate dip that could save you on your monthly mortgage payment for the same home.
Seychelle & team