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Grapevine Real Estate Market Report: September 2024

What Buyers and Sellers Need to Know

Let’s dive into some essential real estate metrics to better understand what’s happening in the Grapevine Real Estate Market and how these numbers are shaping the experience for both buyers and sellers.

Months Supply of Inventory: Still a Seller’s Market

First up, the Months Supply of Inventory in Grapevine is at 3.33 months. This number reveals how long it would take to sell all the current homes on the market if no new listings were added. With inventory levels this low, we’re in a classic seller’s market—high demand, limited supply, and competition among buyers.

However, the 12-Month Change in Months of Inventory has increased by +33.2%. This means homes are staying on the market longer compared to last year, possibly signaling a shift toward a more balanced or even buyer-friendly market. Buyers may soon find more options to choose from in the Grapevine real estate market

Homes are Selling Fast

With homes spending an average of 21 days on the market, the Grapevine real estate market is moving at a lightening pace. This is great news for sellers who are eager to close deals quickly, as high demand is keeping the momentum strong.

Homes in Grapevine are selling for 98.3% of their listing price on average. This List to Sold Price Percentage indicates that sellers are receiving offers close to their asking price, thanks to competitive demand.

Median Home Price – What Buyers can expect

The Median Sold Price in Grapevine is currently $585,000. This gives both buyers and sellers a clear snapshot of property values in the area. For sellers, this is a useful guide for setting competitive prices, while buyers can use it to gauge the current market expectations.

Market Outlook: A Sellers Market with Potential Changes

The real estate market in Grapevine is still favoring sellers with low inventory and quick sales, but the rising inventory trend hints that change could be on the horizon. Whether you’re buying or selling, it’s essential to stay informed. Partnering with a knowledgeable real estate agent can help you navigate these market conditions with ease and confidence.

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