Cedar Hill, Texas is one of the areas where we buy houses. Because we buy houses here, it is very important to stay current on the real estate trends in the market. Although we primarily target off-market properties, on-market data available from the local Multiple Listing Service provides valuable information concerning the buying and selling conditions of the local area.

Although we are willing to consider all houses presented to us for sale, we primarily target resale, single-family homes. Below is a general overview of the current Cedar Hill real estate market conditions (based on single family, resale, all price ranges, sizes, and bedrooms).

Home Prices

The median home sales price for April 2015 increased 6.2% to $138,000 from the prior month. Prices are only down 2.3% from the same month in the previous year.

Days on Market

The median days on market decreased 4.1% to 47 days from the prior month. For the same period in the previous year, the median days on market are up 80.8%.

Home Sales

The number of home sales increased 13.3% from the previous month going from 45 homes sold in March to 51 homes sold in April. Buying and selling activity will generally see an upward tick starting with the spring buying season. Home sales are up 15.9 % from the same month in the previous year.

Inventory – Months Supply

The number of homes available for sale in April is up 13.8% from the previous month at 107 homes but is down 26.7% from the same month in the previous year. The months supply of inventory is up 14.9% at 2.3 months. Inventory is down 34.3% from the same month in the previous year. In general, inventory levels are usually lower during winter all the way into March due to the cool weather but usually start to increase headed in to April.

Market Summary

The Cedar Hill real estate market is very competitive at this time for primary home buyers and investors and this is reflected in the rising home prices and declining days on market. Home sellers are clearly benefiting from the housing inventory levels remaining extremely low with a healthy buyer demand. We are entering the spring buying season and should expect to see an upward tick in inventory coming on to the market. Overall, levels will probably remain relatively low which should continue to benefit sellers.

As a real estate investment business, it is important to understand the market conditions where we buy houses. The exact same can be said for home sellers. The information above is not intended to provide you with an estimate of what your house might be worth or what you should pay for a house as a buyer. It is intended to give you a brief overview of the Cedar Hill real estate market and hopefully adds value in making a buying or selling decision.

The source for the above market data is derived from the North Texas Real Estate Information System.

The post Cedar Hill Real Estate Market Overview – April 2015 appeared first on D & F Holloway Property Holdings.

Cedar Hill, Texas is one of the areas where we buy houses. Because we buy houses here, it is very important to stay current on the real estate trends in the market. Although we primarily target off-market properties, on-market data available from the local Multiple Listing Service (MLS) provides valuable information concerning the buying and selling conditions of the local area.

Although we are willing to consider buying all houses presented to us, there is a general range that we target for buying Cedar Hill real estate. Our general buying demographic is homes valued at <$120,000, single family, 3 bedrooms, 1000 – 2000 square feet, all ages. Below is an overview of the current market conditions based on our buying demographics.

Home Prices

The median home sales price for March 2015 decrease by 10.78% to $85,200. Prices are down 14.8% from the same month in the previous year. The median days on market increased 115.4% from the prior month to 56 days. This is a 20% increase from the same period in the previous year.

Home Sales

The rate of home sales increased 35.5% from the previous month at 11 closed sales in March. This is only a 15.4% decline from the same month in the previous year when there were 12 closed sales.

Inventory – Months Supply

The number of homes available for sale declined by 29.4% from the previous month but there was no change from the same month in the previous year. The months supply of inventory was 1.2 months which is a slight dip from 1.8 months supply the previous month.

Market Summary

Although home prices have fallen during the month of March, this is probably not a sign of long term decline given similar rises and falls during the past 12 months. Inventory levels and home prices are generally lower during winter all the way into March due to the cool weather and a smaller pool of active primary home buyers. These factors loosen as the weather starts to warm. As we enter the spring buying season we probably will see buyer activity increase but overall inventory levels should remain low. As a result, home prices will likely show signs of improvement, as they have in the past two years at the start of the spring buying season.

If you want to sell your house in Cedar Hill, it is important to have an idea of your market conditions. The information above is not intended to provide you with an estimate of what your house might be worth or what you should pay for a house. It is intended to give you a short overview of the Cedar Hill real estate market and hopefully adds value in making your buying or selling decision.

The source for the above market data is derived from the North Texas Real Estate Information System.

The post Cedar Hill Real Estate Market Overview – March 2015 appeared first on D & F Holloway Property Holdings.