DeSoto, 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 DeSoto 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 8.4% to $152,200 from the prior year. Prices are up 36.2% from the same month in the previous year.

Days on Market

The median days on market decreased 14.6% to 35 days from the prior month. For the same period in the previous year, the median days on market are down 20.5%.

Home Sales

The number of home sales decreased 10.9% from the previous month going from 46 homes sold in March to 41 homes sold in April. Home sales are still up 7.9% from the same month in the previous year.

Inventory – Months Supply

The number of homes available for sale in April is relatively unchanged from the previous month at 93 homes but is down 46.5% from the same month in the previous year. The months supply of inventory is 2.1 months which is unchanged from the previous month.  Inventory is down 53.3% 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 DeSoto 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 and 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.

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 DeSoto 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 DeSoto Real Estate Market Overview – April 2015 appeared first on D & F Holloway Property Holdings.

Desoto, 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 market.

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

Home Prices

The median home sales price for March 2015 reflected an increase of 10.5% to $105,000. Prices are only down 0.9% from the same month in the previous year. The median days on market decreased 39.8% to 50 days from 80 days for the prior month. For the same period in the previous year, the median days on market was 16 days. Wow, that was one hot market!

Home Sales

The rate of closed home sales increased 267% from the previous month going from 3 homes sold in February to 11 homes sold in March. Home sales are up 10% from the same month in the previous year.

Inventory – Months Supply

The number of homes available for sale declined by 10% from the previous month and 43.8% from the same month in the previous year. The months supply of inventory was 1.4 months, which is a 12% decline from the same month in previous year. In general, inventory levels are usually lower during winter all the way into March due to the cool weather but loosen as the weather starts to warm.

Market Summary

Low inventory of homes available for sale in combination with active buyers are a large contributor to the rising home prices and declining days on market. The Desoto real estate market is very competitive at this time for primary home buyers and investors. It appears that home sellers are clearly benefiting from the inventory levels remaining extremely low. As we enter the spring buying season we expect to see an upward tick in inventory coming on to the market, but overall levels will probably remain low.

If you want to sell your house in Desoto, 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 Desoto 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 Desoto Real Estate Market Overview – March 2015 appeared first on D & F Holloway Property Holdings.