Enjoy this Flower Mound Real Estate Market Report which is a comparison of the month of September 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 this month as compared to last year by 7.9%. The median home price in Flower Mound is at $399,900. Active listings are UP again this month by 25.8% to 317 homes on the market. Closed sales are DOWN this month by a whooping 20% to only 88 homes this month. The majority of the homes sold in Flower Mound this month were between $400,000-$499,999 which represent 28.6% of all homes sold. The next highest group of homes with 27.4% sold last month was $300,000-$399,999. Months of inventory is UP to 3 months as compared to 2.3 months last year. Days on market is DOWN from last year to 8 days less to go under contract.
What Does this Data Mean?
The number of closed sales is the most significant piece for September. We are seeing a shift in that buyers are not as plentiful as in the past. This can be due to the seasonality of our market or it could be a sign of a consistent slowing in the market. Only time will tell and we will know soon. We’ll have to see how October finishes up as to whether it is seasonality or a real slowing. The higher median home price this month is a sign that the higher priced homes were moving faster last month. Speaking of prices, the highest group for homes sold last month were in the $400k range which was the opposite for last month. The dramatic decrease in home sales is a sign of a slowing in the market that could be either seasonal or more concerning. The decrease in the days on market makes sense because last year the boom was in August for closings so September didn’t go as fast for homes under contract. This year August was a lull in the market and it finally picked up in September so days on market was fewer.
What does this mean if you’re buying a house in Flower Mound?
This is a much more balanced market for buyers. Homes are still seeing multiple offers when priced right and in great condition. Buyers may have more time to make a decision especially when the home has been on the market for more than a week or two.
Homes are sitting on the market longer and the competition for buyers is more intense. In order to sell a home; it must be clean, free from obvious defects and staged well. Some price points are still seeing multiple offers which is great. However, others have an average days on market of 90 days or more. It is still a great time to sell your home and when you partner with the Wise Advantage Group at Keller Williams you have a team of experts working to get you the most money for your home. Whether buying, selling or investing in real estate, we have specialists ready to work with you to get you to your financial goals.
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 $399,900 or less