The Dunnican AdVantage

Rowlett Real Estate Market Update - January 2019


Prices continue to increase even though listing inventories are up and number of sales stayed flat.
Posted: March 15, 2019 by Cindy Dunnican

Rowlett Real Estate Market Update - January 2019

Prices continue to increase even though listing inventories are up and number of sales remained flat. 

What does this mean?  Our market is normalizing.  The Rowlett Median Price increased 7.2% over last year.  While we are still in a "seller's market" with only a 2.5 month supply of homes on the market, active listings are up 57.4% over January 2018 and the number of sales stayed flat at 49 for the month.  While we expect to see an active Spring market with prices continuing to increase, they will start increasing at a slower pace.  Historically, a normal price increase of 4-5% in the Dallas area has been considered healthy. I expect that the market will continue to normalize and settle as we head towards a more balanced market with 4-6 months of Active Inventory.  

Buyers are starting to negotiate more and request closing cost contributions.  Sellers are reducing prices at a higher frequency and Realtors are having to work harder to "market" their listings.  



If you're curious how this normalzing market effects your home value, give me a call.  I would be happy to keep you updated on the happenings in your neighborhood.  

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