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Argyle Real Estate Market Report: September 2024

What Buyers and Sellers Need to Know

The real estate market in Argyle, Texas, continues to show interesting trends as we move through August 2024. Let’s break down the key metrics to give you a better understanding of the current market landscape for both buyers and sellers.

Inventory Levels Rise, Indicating a Potential Shift

The Months Supply of Inventory is currently at 5.23, which tells us how long it would take to sell all the homes currently on the market at the current sales pace. Typically, a lower number points to a seller’s market, where demand exceeds supply, while a higher number suggests a buyer’s market with more homes available. Right now, the market is balanced, providing opportunities for both buyers and sellers.
We’ve seen a significant increase in inventory, with the Months Supply of Inventory rising by 36.2% over the past year. This means there are more homes available, which could give buyers more options. For sellers, it’s crucial to price your home competitively in this shifting landscape.

Homes Continue to Sell Quickly

Homes in Argyle are selling relatively quickly, with the Median Days on Market at 43. This means that most homes are going under contract within about six weeks. The faster pace indicates strong demand, so sellers can expect a quick turnaround if their home is priced right. Buyers, on the other hand, may need to move swiftly when they find the right property.

Homes are selling for an average of 98.1% of their listing price. This means sellers are getting very close to their asking prices, a sign that the market is pricing homes accurately and buyers are willing to meet these expectations. For sellers, this is a positive sign of demand, while buyers should expect little room for negotiation.

Median Home Price Provides Benchmark

The Median Sold Price sits at $549,995 giving both buyers and sellers a good benchmark for the current market value of homes. For buyers, it’s a helpful indicator of what to expect to pay, while sellers can use this to gauge how to price their home competitively.

Market Outlook: Balanced with Opportunities for Both Buyers and Seller

Overall, the real estate market appears balanced, with a decent level of inventory and homes selling relatively quickly. Prices remain strong, and buyers will find more options on the market compared to last year. Whether you’re thinking of buying or selling, staying informed on these trends will help you make smarter decisions.

If you’re considering making a move in the near future, it’s always a good idea to consult with a real estate professional who can provide guidance tailored to your unique situation.

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