The market is beginning to heat up in Ellis County, and recent data definitely reflects this.
For one thing, inventory remains low. With just 2.6 months’ worth of homes available on the market, sellers are in a prime position to sell quickly and for top dollar. Even at this comparatively low level of inventory, though, buyers are beginning to gain some leverage. The number of available listings has risen since last year, while the total number of closed home sales is actually down.
Also, while the average sales price has gone up since 2018, the list-to-sales price ratio has dropped. This, in conjunction with the fact that listings are taking longer to sell, indicates that sellers now need to be more flexible if they want to strike a deal.
The bottom line is to take advantage of these market conditions while they last. We’ve hit the peak of the real estate cycle, so don’t delay.
If you have any other questions, would like more information, or are curious about how I can help you make the most of your real estate goals, feel free to give me or my team a call or send us an email. We look forward to hearing from you soon.