Are Homes Selling?

Posted by Larry DeBerry on Monday, April 20th, 2020 at 5:58pm.

Many people have asked me and my team what is going on with home sales during the pandemic? There are some people who have taken their homes off the market and yes buyer traffic has been reduced but not eliminated. Our team is still listing homes and also showing buyers who need to find a home. We track approximately 18 areas to make sure we understand the dynamics of the market. Most areas are in Collin County but we also have a couple of areas outside of that like north Dallas, Rockwall and parts of Denton County. This gives us a good picture of the activity. This past week ending April 19th there were 380 single family homes that "Sold". Based on the approximate same weekly period last month there were 363 homes that "Sold". So you can see that we had an increase in single family homes sold overall in the area that we track. However, "Pendings" did show a decline from 164 to 136 which is understandable based on the situation we are presently in. Inventory of homes also increased as well. This means sellers are continuing to put their homes on the market. 

We are watching all the numbers closely so that we can make sure our sellers and buyers can react to the market as it changes. We believe that there is going to be a ramp up in buying and we are advising our sellers who need to sell or those who just wish to sell to move up or down to contact us so we can advise them on what is going on in their particular neighborhood. City stats are one thing and neighborhood stats are another. We want everyone to be prepared with the right information at the right time and we can only do that if we speak to people about their needs and their particular neighborhood that they live in. 

In general, due to the impact of the virus we expect that we will see one or two more weeks of potential declining sold numbers numbers since many of the closing processes started in March. April figures will most likely show a decline but we expect that to change in fairly short order once things open back up. Our goal is to make sure we provide the right information at the right time. To get the most accurate and up to date information, please contact: The DeBerry Team at 214-676-8040 and we will be happy to assist you. 

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