Well, it’s been a hot sellers’ market in the DFW area for quite some time, and there is no end in sight yet. We are continuing to find such a shortage of homes available for sale that home buyers are seeing multiple offers in almost every price point and every city. Interest rates are still very low and home buyers who have the ability to move, are looking to do so while the rates are so low. However, beware home buyers that you will most likely have to pay above the listed sales price in order to secure a home.
In fact, this may give you a glimpse into how low our inventory is in the DFW area.
Our historical numbers for December won’t be available for another 10 days, but below you will find November 2020 statistics included with the current real estate inventory for today. As of today, January 5, 2021, per the North Texas Real Estate Information System (NTREIS), which is our MLS for the region, we found the following listing information:
Murphy, Texas Real Estate Information:
As of 1/5/2021 in Murphy, TX there are only 2 homes listed for sale. Period. Forget price point, forget amenities. If you want to buy a home in Murphy, Texas you have 2 home choices at this moment.
In November in the Murphy-Parker area listings were down 13 percent with 20.8 percent ore sales, driving prices up 8.9 percent from the prior year.
Wylie Texas Real Estate Information:
As of 1/5/2021 in Wylie, TX you have a few more options as there are 47 homes listed for sale. Only 1 house is listed for under $250k, and another 24 homes priced between $250-350k. The other 22 homes are listed for more than $350,000.
For Wylie, the November numbers showed that listings were down 15.6 percent and closed sales were up 41 percent. Of course, that drove prices 16.7 percent higher than November 2019.
Richardson, Texas real estate information:
In larger cities like Richardson, TX we found 101 homes for sale and 7 that are coming soon to the MLS. Please note that the city of Richardson had a population of 127,257 in 2020, based on information from the website World Population Review. That means that listings available equates to only .07% of the population.
For Richardson, the November stats show listings were down 4.3 percent and sales were up 36.7%, which lead to a 5.1 percent price increase year over year.
Plano, Texas real estate information:
Another large city is Plano, TX and they currently have 168 homes for sale and 9 that are coming soon. Plano’s population is 288,359 which is more than double that of Richardson.
The November numbers in Plano showed a 14.5 percent decrease in listings with an 18 percent increase in sales. Of course, this led to a 10.1 percent price increase year over year.
Keeping all of this in mind, if you are planning to buy a home you need a REALTOR on your side that can help you navigate multiple offers and really knows what it takes to buy a home. If you are considering selling, the market is still very strong and you could likely get the maximum return on your investment.
Our team of real estate professionals are here to help. Call our office at 469-759-3899 and our knowledgeable REALTORS will help you with your move in the DFW area. If you are planning a move outside of the North Texas area, we will connect you with a top-notch agent from our vast network of professionals from across the country.