The new housing stats are here for July 2021! Take a look below for the Housing Report for Denton County.
In July, number of home sales fell 20.6% compared to last year. However, even with less closings last month, we are still seeing high median price increases at 21.2% year-over-year. Median home price in Denton County in July was $405,900! We are still sitting at low inventory with 41.6% less active listings than last year. However, the decrease in sales has led to a slight increase in Months of Inventory to 1.2 (from 0.9 months in June 2021).
What does all this mean? For buyers, the increase in months of inventory is a sign we may be slowly moving towards a more balanced market with less intense buyer competition. The decrease in sales is suggestive of less buyers on the market and could present a great opportunity for those who may have been previously overwhelmed or outbid. However, we are still in a strong sellers market with low days on market. If you were thinking of selling, down-sizing or upgrading, this is still a great time to sell at a potential all-time high. If you would like to see what your home is worth in today's market, give us a call today at (214) 449-1022 or hop over to our "What's Your Home Worth" page for a quick and free report!
Submitting an offer on a home without ever setting foot inside is not new… and now with the COVID-19 Pandemic, it has become more common place for buyers who simply don't want to take any risks. But is this a smart thing to do?