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Market Update – March 16, 2020 – Dallas-Fort Worth Real Estate

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Market Update: As we look ahead to the coming weeks, we want you to know that we are keeping a strong pulse on what's happening here on the Dallas/Fort Worth and Austin real estate markets.

Often, we see trends 3 months ahead of the local news organizations and 4-5 months ahead of the national news. Why? Because most news outlets are watching the quarterly trends while our team is looking at the daily and weekly trends, along with year-over-year comparisons. 

Here is what we know so far, and we promise market updates in the coming weeks and months. If you have any specific questions, please let us know so we can help watch areas or properties for you.

  • The next few months will be a really good time to buy and sell. When we have times of uncertainty, lots of people freeze and opportunities are made.
    • Why is this? The motivated buyers will still need to purchase. The “looky lou’s” of summer won’t be around as much, so you will have less competition as a buyer, bringing opportunity to purchase great properties.
  • We will get creative. You don’t have to interact with a bunch of people to see homes or sell your home.
    • 20% of our home sales are already done via Facetime, Youtube, Google Hangouts, or Zoom video. We’re very familiar with ways to accommodate clients and allow you to make a decision before you ever need to leave your home. While other agencies are just starting to figure out how to do this, we’re already prepped and ready to go!
    • As a seller or buyer, we can meet over video conference to do our consultations and help you get the home pricing settled. No problem!
  • We promise to keep you informed.
    • If you don’t know what’s happening in the market, you can’t make smart decisions for your family/wealth.
    • Our team was started on September 11, 2001. We have helped our clients thrive in 3 shifting markets already and understand what it takes to win for our clients.

Market update by the numbers:

  • Homes NEW ON THE MARKET decreased by 1.22% – this is not a significant decline yet
  • Homes SOLD last week decreased by 14% – this is also because we weren’t at the end of the month, so again this is normal for this time of the month
  • Homes UNDER CONTRACT rose by 3% – signaling consumer confidence
  • Homes CANCELLED/EXPIRED stayed the same – again, signaling consumer confidence

So far, the market’s leading indicators are steady for the past week. We’ll continue to monitor it closely as we move through this together.

What you can do:

  • If you have a personal need in real estate to watch over the next 12 months, we need to know as soon as possible. We will closely monitor the neighborhood, market, and situation to help best position you to come out with a win.
  • Start looking at your personal expenses and cut anything you don’t need.
  • Take care of yourself and let us know how we can help you. We are really well connected in our community, so if there is anything you are needing, please let us know.

We’re here to serve you, your family, our community, and your real estate needs!

We are sensitive that you are probably operating outside of your normal routines and want you to know that we’re thinking of you, your health, and your loved ones.

Warmest regards,

Seychelle & the entire Van Poole Properties Team

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