Enjoy this Flower Mound Real Estate Market Report which is a comparison of the month of March 2018 over the same month in 2017. For details behind the figures, please contact Kris Wise with Keller Williams Wise Advantage Group at 972-829-9040 or firstname.lastname@example.org.
A Look at the Housing Stats
Median home price is UP again this month as compared to last year by 6.5%. With a median home price in Flower Mound of $426,000 for this month, we are seeing homes at the higher prices begin to move. This follows a month of a slight median price increase, so this is signaling a positive trajectory as we come in to the warmer months. Active listings are DOWN this month by 5.6% to 221 homes on the market. As expected, the number of listings is increasing as we get closer to the spring selling season. Closed sales are down 25.6% to 87 this month again after coming off a couple of months of decreases. The majority of the homes sold in Flower Mound this month JUMPED in the range between $500,000-$749,999 which represent 30.1% of all homes sold in Flower Mound. Months of inventory is about the same as last month at 2.1 months as compared to 2.2 months last year. Days on market is DOWN 5 days from last year to 35 days to go under contract which means the homes that are selling are moving 5 days faster than this month last year.
What Does this Data Mean?
With the median home price in Flower Mound increasing to $426,000, we are seeing this as a sign of the trade up market getting under way and sellers of $300,000 homes are now buying $500,000 homes. This market is ideal for trade up buyers. The $400,000 plus market represented 51.8% of total homes sold in March. This is significant because it’s the FIRST time in recent history that over $400,000 surpassed the number of sold homes in the under $400,000 range.
What does this mean if you’re buying a house in Flower Mound?
The spike in price point is the first we have seen in recent past where the sales of homes in this higher range outnumber the hot market of $400,000 and under. As mentioned before, this is showing the trade up market is heating up which is what you expect to see. As the lower priced homes start to move, it frees up buyers for the higher priced homes. The move up buyer is still in a great position even with the higher priced homes selling faster. This simply means that the wave of home prices is moving across the price points headed toward homes over a million dollars. Buyers will now have to be more competitive in order to entice sellers to take their offers. We can help make your offer stand out so give us a call at 972-829-9040!
What does this mean if you’re selling a house in Flower Mound?
For all of you sellers who have a home over $500,000, your time has come! If you are looking to move, the market is beginning to deliver buyers in your range and that means a better return for you. If you are needing to sell your home we can get it sold quickly and easily for you, give us a call at 972-829-9040 and we can give you an in-depth market analysis for your home specifically.
Home Value Estimate
If you want to know what your home might sell for find out using this home value estimator.
Flower Mound Homes for Sale
Below you will find the most recently listed homes for sale in Flower Mound at $426,000 or less