- 1 Arlington TX Home Sales Remain Strong in 2017
- 2 A Look at Housing Stats
- 3 Search Arlington TX Real Estate by Price
- 4 What Does This Data Mean?
- 5 What Does This Data Mean if I am Selling a Home in 2017?
- 6 What Does This Data Mean if I am Buying a Home in 2017?
- 7 Check out the Most Recent Homes for Sale in Arlington TX
Arlington TX Real Estate Market Report – September 2017
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Arlington TX Home Sales Remain Strong in 2017
Here is a look at the Arlington TX Real Estate Market for September 2017. August experienced a 2.3% decrease in closed sales with an 7.9% increase in new listings and median days on market of homes for sale in Arlington TX remaining in the single digits.
A Look at Housing Stats
Arlington TX real estate statistics are tracked in the North Texas Real Estate Information System (NTREIS), more commonly known as the Multiple Listing Service or MLS. This is a look at all residential property types including single-family homes, condominiums, and townhouses, including both resale and new construction. In Arlington for the month of August 2017:
- 422 Sales Closed — Down 2.3% from 432 in August 2016
- 431 Homes were In Contract expected to close soon
- 532 New Listings went on the market, Up 7.9% from 493 in August 2016
- Median Days on Market (DoM) = 9 Days — Up 12.5% from 8 in August 2016
- Active Listings = 570 — Down 11.2% from 642 in August 2016
- Month’s of Inventory = 1.5 Months
In the last 3 months there have been 84 listings expire without being sold.
The trend in original list price has increased 5.8% from 189,900 in August 2016 to $199,900 in August 2017 with average list price to sales price ratio at 99% indicating that even though there has been a monthly decrease in home sales, the market trend upward throughout this year is resulting in higher prices.
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What Does This Data Mean?
When we look at the market trends the month’s of inventory is a key number. This number is the total number of home sales in a given month divided into the total number of active listings. In this case 570/422 = 1.5 (rounded). This means if no other listings were put on the market and the same number of homes continues to sell, it will take 1.5 months to exhaust the current inventory. A neutral market is considered 6 months of inventory. Anything less than 5 is considered a seller’s market and anything greater than 7 is considered a buyer’s market.
Arlington is Currently in a strong Seller’s Market
What Does This Data Mean if I am Selling a Home in 2017?
Arlington, as well as the rest of north Texas has experienced four years of record homes sales with each of the last four years beating out the previous year. Are we beginning to see a shift in the market? The funny thing about a shift is that one, it usually happens quickly and two we only know where the exact top of the market is when we look back. If your realtor is not tracking the market, then you might miss the opportunity to obtain top dollar for your home. Now might actually be the best time to sell a home in Arlington TX. Many people were recently displaced from Hurricane Harvey and are buying homes in DFW. If you’re considering selling your home in today’s market, contrary to popular belief it takes a lot more than simply placing a sign in the yard and waiting for the phone to ring.
At the Lockhart Real Estate Team, we offer free consultations where we will review what the most recent homes have sold for that are most closely comparable to yours as well as look at the exiting active inventory buyers will see and compare to yours. With this information in hand, we can develop a tailored marketing approach which starts with strategically pricing your home so it screams value to the buyers in today’s market.
Learn more about Closing Costs when Selling a Home in Arlington TX.
The housing market is changing on a daily basis, and you need a real estate professional who monitors this market and is able to interpret it for you and advise you on how to reach your real estate goals. To find out how recent sales have affected the value of your home, click here to obtain your home value online in only 15 seconds.
What Does This Data Mean if I am Buying a Home in 2017?
Buyers in Arlington are facing a challenge of low inventory. With only an average of 9 days on market and only 1.5 months of inventory, the best homes are going quickly posing a challenge for buyers to find that great home. The good news for buyers is with today’s interest rates remaining so low, home affordability remains very favorable. Arlington TX home prices are lower than many other DFW cities. If you have been renting, it might surprise you to know that many people can actually buy a similar home with lower monthly payments than their current rent. There are also significant tax advantages to buying a home versus renting.
This graph shows the average percentage for sales price versus original listing price for houses in Arlington. Over the last year this has seen little fluctuation maintaining between 97% and 100% throughout most of the year. Many buyers are still loosing out even with offers above list price. This average fluctuates for each particular neighborhood in which you are interested in buying a home.
If a home you like is on the market and in move-in-ready condition then it is important to move quickly. We offer a free buyer’s consultation where we can walk you through the entire home buying process from beginning to end so you feel comfortable and confident moving forward. It is also important to speak with a lender about becoming pre-qualified so that 1) we are sure which price range to look and 2) we are able to move quickly when we find you that perfect home.
Learn more about Closing Costs when Buying a Home in Arlington TX
Check out the Most Recent Homes for Sale in Arlington TX
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