Dear Lochwood neighbor,
Although you can’t tell from the weather, summer is almost over. The kiddos will be going back to school soon and another summer real estate market will have passed.
So how did our neighborhood market perform last month? Pretty well! Overall, ten home sales closed. In July of 2018, 13 home sales closed. Sale prices range from $182,000 up to $540,000. The median number of days that a property was on the market before going under contract was up slightly to 22 days. Lastly, sellers achieved a final sale price the was 96.5 percent of their original list price. Looking ahead to August, there are currently 11 homes pending sale. If all 11 sales close, then August 2019 sales will match those of August 2018.
As of the writing of this blog, there were 36 homes actively being marketed for sale in Lochwood. That represents 4.4 months of inventory. What that means is that it would take 4.4 months to sell those 36 homes if no other homes came onto the market. Inventory/supply has been trending upward since October of 2018. More supply means more choices for prospective buyers and more competition between sellers.
As always, I hope you find this information useful as you consider whether to stay in your home, or perhaps it is time to sell and embark on a new adventure. Call me today at 214.793.8787. I’d love to help you evaluate your options. ~ Robyn