My Thoughts: High Demand & Low Inventory Market
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The current real estate market here in the North Texas area is hot just like many parts of the country and the result is a high buyer demand and a low home inventory. What does that actually mean? Is it in all markets? What should a buyer or seller know going in to this market?
Let’s start with the basics and take a look at what the market is actually like. While the news may say the real estate market is hot that is not the case everywhere. Remember that there are many different markets within cities and like many those different markets based on price point vary. So here in the Dallas/Ft. Worth area you are seeing a strong demand for homes under $250,000. Move in to some of the suburbs like Lewisville and the trend continues as well. However keep in mind that once you start going up in the price you begin to see more inventory on the market as well as lower buyer demand.
So the important topic to understand is where you will be looking, what does that market look like? What is your price point, size of home, number of bedrooms, school district, etc… that is your market. Let’s look at that specific market and then determine how the market looks, is it hot or not? Remember not all markets are the same so be sure to focus on your specific market and adjust accordingly to make sure you are as realistic and competitive as possible.
Remember this market won’t last forever but in the mean time if you are looking to buy or sale be sure to get as educated as possible so you can make better decisions. I make it a point when I meet with clients that we assess where the market is that they are looking in so that we have a clear picture. A little bit of research goes a long way to help you get in to a home faster or if you are selling to get the best price possible in the least amount of time.
With a heart of a teacher I look to educate my clients about the process of buying, selling or renting real estate. I strongly feel an informed and educated consumer will make better decisions and be less likely to be taken advantage of.
Have questions about this or other topics, don not hesitate to contact me.
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Luis Cuevas, Realtor®
RE/MAX Cross Country
1990 Justin Road
Highland Village, Texas 75077
(214) 783-0535
Luis@MakeNorthTexasHome.com
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