The Colony Texas Shifts From Buyers Market To Sellers Market

If you have been thinking about an upgrade and on the fence about whether to sell or not, now is the time.  With our busy season approaching our listing inventory in The Colony, Texas is only 3.2 months.  A seller's market is anything lower than 5 months of homes for sale.  Homes that are going on the market are selling very quickly.  April's numbers showed that homes in The Colony were selling at 96% of the list price and only staying on the market for an average of 63 days.  According to the data provided by NTREIS, our local MLS provider the listing inventory is down 47% from a year ago while sales are up 43% from a year ago.  What a turnaround in the last year.

What does this mean for homeowners?  The potential for an upswing in home prices is very likely.  If you are thinking about a move up home purchase now is the perfect time to trade up.  Lending rates this week were at 3.75 for a 30 year fixed mortgage which still allows very affordable money for home purchasing.

What does  this mean for buyers?  If you are looking to buy a home in The Colony make sure that you are partnering with an agent that really knows the area.  Sign up for listing alerts to make sure you have the fastest access to the newest listings.  When you see a home you like make an appointment as soon as possible. 

Take advantage of this market by calling Raymond Edler of Keller Williams Realty at 972-767-9470, for a no obligation home seller consultation.  Find out what your home is worth and see if it makes sense to sell.



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Raymond Edler specializes in home sales and real estate in The Colony, specifically the neighborhoods of The Cascades, The Legends, Stewart Peninsula, Ridgepointe, Northpointe, and The Tribute.