Knowing Dallas’s current real estate market is essential if you’re considering selling your home. The market is affected by many factors, including the time of year, the economic environment, and the location. Here are five things you need to know about today’s real estate market in Dallas, Texas.
1. Things Move Slower in the Winter
Selling your home in the winter has a lot of perks, but it’s essential to know that real estate transactions typically move slower in the winter months. Fewer buyers are out shopping for homes during the holidays, and there’s not as much competition for homes. That means it might take longer for you to get an offer on your home. Every home is different, but if you choose to sell your house in the winter, be prepared to wait a few weeks or even months to get much traction.
2. It’s a Seller’s Market
Today’s market is unique because, like many other industries, real estate is still experiencing the effects of the COVID-19 pandemic. The abrupt halt to home sales in March and April of 2020 led to a sudden and significant decrease in mortgage interest rates. This rate drop fulfilled its purpose of bringing more buyers out to start home shopping, and rates have stayed low for the last 18 months.
Low rates brought the buyers, but few people were selling homes. This created a seller’s market and caused home prices to skyrocket. It’s still a seller’s market today and will continue to be until there are more homes for sale than there are buyers.
3. Curb Appeal Still Matters
Curb appeal is always important, but it’s slightly less so during the frenzied summer market. Buyers in the winter tend to take their time and look closely at every part of a home, including the exterior. Take some time to spruce up the outside of your home, and it will pay off when you’re ready to sell.
4. Fixer-Uppers Might Be Hard to Sell
Homes in good condition should sell well in the current market, but if your home is a fixer-upper, you might have a more challenging time. Not many buyers are looking to take on a project. The good news is that there’s a better option for selling a home in rough condition. Like Joe Homebuyer Dallas, professional home buyers make it fast and easy to sell homes in any shape.
Joe Homebuyer Dallas Can Help
If selling your home has been on your mind, Joe Homebuyer Dallas can help. We buy houses in Dallas, Texas, and the neighboring cities, including Frisco, Fort Worth, and McKinney. There’s no need to make repairs, stage your home, or even pick up a broom when you sell to us.
Just tell us a bit about your property, and we’ll make you a cash offer, regardless of your home’s condition. We can close quickly, so you don’t have to wait months to find your next home. See what Joe Homebuyer Dallas can do for you. Contact us today!