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Enjoy this Flower Mound Real Estate Market Report which is a comparison of the month of January 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 kris@allthingshousing.com.

A Look at the Housing Stats

Median home price is DOWN as compared to last year by 0.1%, with a median price in Flower Mound of $354,500. The largest number of homes sold this month was in the $200,000 to $299,999 range at over 40% of the 62 total homes sold. The next largest grouping was $300,000 to $399,999 which represented 22% of the total sold. Interesting enough, no homes over $1 million sold this month. Active listings are DOWN again this month by 1.7% to only 178 homes on the market. Closed sales are down 4.6% to 62 this month again after coming off an almost 25% decrease last month. Months of inventory is about the same at 1.7 months as compared to 1.6 months last year.  Days on market is down 22 days from last year to 45 days to go under contract which means the homes that are selling are moving 22 days faster than this month last year.

What Does this Data Mean?

We have seen 2 months in a row of a median home price decrease, we are going to keep an eye on this as we go into the spring market. After the significant decrease last month of the active listings plus a small decrease again this month, we are watching this metric as well to see if we are heading towards a correction in the market come springtime. With homes selling 22 days faster than they were last year, it just means that if the house is priced right and in good condition buyers are buying them faster. On the other side if homes are not priced right given their condition, they are sitting on the market and ultimately may have expired or withdrew from the market which caused the 4.6% reduction of closed sales this month and active listings count down almost 2%.

man and woman toasting each other sitting in front of boxesWhat does this mean if you’re buying a house in Flower Mound?

Last year the market was rising each month so we saw buyers snatching up homes as fast as they hit the market. Buyers are now able to take a breath and not rush into buying the first house they see. Homes under $300,000 are still getting under contract with multiple offers and the homes that are priced higher than that are staying on the market a little longer.

What does this mean if you’re selling a house in Flower Mound?

If your house is below $300k right now is the time to sell with 40% of the 62 total homes sold last month being in the $200,000-$299,000 range. Unlike solo agents, Wise Advantage Group has a Listing Manager whose only job is to market your home across all our internet and social media platforms. This means your house gets vast exposure which brings more buyers looking at your house and could drive more offers.

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 $354,500 or less

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Summary
Flower Mound Real Estate Market Report- February 2018
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Flower Mound Real Estate Market Report- February 2018
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These are the current Flower Mound Real Estate Market Report stats for February 2018 brought to you by the Wise Advantage Group
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Wise Advantage Group
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