As of November 2024, Coppell, Texas, continues to be a sought-after suburb in the Dallas-Fort Worth metroplex, known for its top-rated schools, family-friendly neighborhoods, and proximity to major business hubs. Here's an overview of the current real estate market trends in Coppell:
1. Home Prices
Median Sale Price: In September 2024, the median sale price of homes in Coppell was $520,000, reflecting a 2.5% increase compared to the same period last year.
Price Per Square Foot: The median price per square foot stood at $250, a slight decrease of 3.8% year-over-year.
2. Market Activity
Days on Market: Homes in Coppell are selling after an average of 57 days on the market, up from 40 days last year, indicating a slight slowdown in market pace.
Sales Volume: There were 26 homes sold in September 2024, down from 30 in the same month the previous year, suggesting a modest decline in sales activity.
3. Inventory Levels
Homes for Sale: As of October 2024, there were 139 homes listed for sale in Coppell, a 2.1% decrease from the previous month.
New Listings: In the last 30 days, 29 new homes were listed for sale, down 6.5% year-over-year, indicating a tightening in new inventory.
4. Market Competitiveness
Sale-to-List Price Ratio: The average sale-to-list price ratio was 98.5% in September 2024, a decrease of 1.2 percentage points from the previous year, suggesting that buyers have slightly more negotiating power.
Price Reductions: Approximately 36.36% of homes listed experienced price reductions, up 13.6 percentage points from last year, indicating increased flexibility among sellers.
5. Economic Factors
Interest Rates: Mortgage rates have remained elevated, influencing buyer affordability and potentially contributing to the observed market trends.
Local Economy: Coppell's strong local economy and desirable living conditions continue to support demand, even amid broader economic fluctuations.
Conclusion
The Coppell real estate market in 2024 reflects a balanced environment with steady home prices and moderate sales activity. While there is a slight increase in days on market and a modest decline in sales volume, the overall market remains resilient. Buyers may find increased opportunities for negotiation, while sellers can still expect favorable pricing due to Coppell's enduring appeal.
For those considering entering the Coppell real estate market, staying informed about these trends and consulting with local real estate professionals can provide valuable insights tailored to individual circumstances.
Please call us at 469-269-6541 for more details about Coppell and available homes!
About us: Professional Coppell Relocation & Real Estate Services.
As a top Coppell Real Estate Professional, I understand the challenges that arise from a Relocation. I work with families including physicians who are relocating to Dallas metro area including cities like Coppell. I have earned a number of real estate certifications and designations in an effort to learn and provide excellent customer service to my clients. As a CRS, ABR & GRI, I can offer my clients experience as an Agent and REALTOR®, top Industry Customer Service, in-depth, up-to-the-minute and comprehensive market knowledge; honesty, integrity, dedication, and professionalism in my business.
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What is most important to you in your new city? With a little bit more info about what you’re looking for in a new city, we can help you determine whether or not Dallas would be a good fit. Send us an email at info@NitinGuptaDFW.com, fill out our Relocation Questionnaire, or give us a call at (469) 269-6541 to schedule a no obligation consultation. We’ll give you honest advice about Dallas that you can use to help make your relocation decision. In the meantime, check out our Guide to Relocating to Dallas.
