Recently, a reader asked "what is a normal amount of home sales in Irving."
He was curious about how today's abnormal conditions compares to what we are used to seeing in the housing market.
Normal Amount Of Home Sales In Irving
The following graph depicts the supply of Irving homes for sales every month in terms of months supply of inventory for past two years
I'm sure there are many ways to define "normal" when looking at real estate sales in Irving. We could look at the historical average number of home sales or even the median number of home sales.
But we have used a different measurement for the purpose of today's post.
Using Market Equilibrium As "Normal"
We define housing market equilibrium as 6.0 months of supply of homes. The graph above shows the number of homes for sale each month for last 2 years in Irving Texas.
If you look back at the left side of the graph, we can see Irving has been below normal for more than two years. It is interesting to note that we did not observe a normal month where market was “balanced” for many years. Irving has been a seller’s market. In addition, the inventory is lowest in December and peaks in July.
So the answer to our reader's question is that the inventory of homes for sale is getting tighter. The "abnormality" of the market today favors the seller in many areas and price ranges. The big question we have is "how can we build more homes at prices today's buyers can afford?"
Homes sold in Irving Trends
Now let us see the number of homes sold in Irving during last 2 years. As you can see from the graph below, around 140 homes were sold in Irving in October of 2017. Sales peaked in May 2017 and have slowed down recently.
You can see all new home construction for sale here.
The Value Of Market Expertise
We work hard to be students of the ever changing market conditions. The best way to succeed in negotiations is to understand your position (as well as the position of the opposite party) and use this understanding in guiding your demands when writing a contract.
This is not something other companies promote, and thus is an added value that we bring our customers.
If you are considering selling a home or buying a home in Irving or Valley Ranch in the next year or so, take the time to sit down with us to explore the specific market in which you will enter. We can prepare you in ways you have never considered, and we promise to help you convert that preparation into extra equity in your pocket.
If you would like to know more, simply drop me a note and we'll be in touch right away.
If you are planning to sell your Irving TX, Frisco,TX, Plano TX, Coppell TX or Southlake TX, home contact us. Our excellent Coppell TX Real Estate Services provided by top Coppell & Dallas Real Estate Agents will make selling your home much easier and will make your experience less stressful! Putting a sign in your yard and forgetting about you is NOT the selling method we offer. Providing smart and progressive marketing that gets your home seen and sold is our approach. We market your home, not ourselves. Ask us about the social media marketing we use or the professional photographs we employ to show off your house…NO other agent in Dallas County provides this type of service!Let’s face it; your only goal is selling your Coppell TX home in the shortest amount of time, at the highest price, and as trouble free as possible. Call, text, or email me for a comprehensive consultation to discuss how I can assist with getting your Coppell TX home from listing to closing as quickly as possible, for the price you want, and hassle free.
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