Enjoy this Flower Mound Real Estate Market Report which is a comparison of the month of May 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 8.9%. With a median home price in Flower Mound of $391,921 for this month, we are seeing homes at the higher prices still moving at a rapid pace. Active listings are UP this month by a staggering 31.9% to 302 homes on the market. Closed sales are DOWN 7.8% to 142. The majority of the homes sold in Flower Mound this month are between $300,000-$399,999 which represent 27.9% of all homes sold. Homes between $200,000-$299,999 tie with homes in the $400,000-$499,999 price range at 24.3% for each category. Months of inventory is UP to 2.9 months as compared to 2.1 months last year. Days on market is DOWN 1 days from last year to 25 days to go under contract.
What Does this Data Mean?
Again, the most eye catching part of this month’s market report is that the number of active listings is up by over 30% more than last year and 26 more houses than last month. We are definitely in the busy season of real estate and houses that are priced right are going fast! While homes priced between $300,000-$399,999 are the majority of homes sold, homes priced between $200,000-$299,999 and $400,000-$499,999 are both tied and very close behind. This shows the buy-up that we are seeing in Flower Mound. People who have lived in the $200,000 price range are now selling and moving up to a little bit higher price range. Even houses priced between $500,000-$599,999 are not that far behind coming in at 17.7% which is up from last month. This metric combined with the active listings going up and closed sales going down is showing a slowing of the market. Sellers who are waiting to sell are missing out on the potential of more buyers. This increased listing inventory is going to give buyers the opportunity to be more picky in their selections of homes. This is still a great move-up market for owners who need more space, want a home with a pool or are thinking about switching schools.
What does this mean if you’re buying a house in Flower Mound?
It looks like everyone we have been telling “it is a great time to sell your house” is now listening! This will help with price stabilization which is great news for buyers and not great news for sellers. Great news for buyers! There is more selection of homes and they are taking longer to sell so buyers can take a breath before writing that offer. The best homes will still go fast so make sure you are pre-approved for your financing before you go looking at houses. We have great lenders we work with to make that happen.
If you have been thinking about selling and you thought you had time in the market before you sell, now is the time! The best time to sell your house is when the inventory is lowest and you have the least competition. Now that more homes are on the market, this may impact you negatively if you wait until fall. Let the experts at Wise Advantage Group – Keller Williams navigate you through this market to achieve the best possible outcome.
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 $391,921 or less