How COVID-19 Is Impacting the DFW Housing Market

March 2021


If you’re thinking about selling your home, it's important to have a good understanding of what’s going on in the DFW market.

Knowing the most important data such as the average sales price, number of homes sold, and days on market will better prepare you to sell your home.

You’ll find our team's stats vs the entire market average with info on average sales price, average days on market, and more in our March DFW Market Report



* All stats have been pulled from Broker Metrics & NTREIS. These stats are provided  for North East Tarrant County, South Denton County (Flower Mound, Argyle, Coppell, Trophy Club, Roanoke) and Coppell   

 DFW Stats in February 2021

$445,498

Average Sales Price

$164.55

Average Price Per Square Foot

28

Average Days on Market

.72

Months of Supply

DFW Stats in February 2021

673

New Listings

521

Pending Sales 

(including option, contingent and kick out)

481

Active Listings

668

Closed Sales

DFW

Homes Sold

99.93%

Sale-to-List Price


Tosello Team Stats in February 2021

$510,667

Average Sales Price

$174.35

Average Price Per Square Foot

11

Average Days on Market

100.28%

Homes sold sale-to-list price

Taking a side by side look at the average agent in the DFW:

The average agent sells in 28 days, The Tosello Team sells in 11 days!!

The average agent sells their listings for 99.93% of list price, The Tosello Team sells their listings for 100.28%!


* All stats have been pulled from Broker Metrics & NTREIS. These stats are provided  for North East Tarrant County, South Denton County (Flower Mound, Argyle, Coppell, Trophy Club, Roanoke) and Coppell  

CONSIDERING SELLING IN 2021?

Selling Programs:

Instant Cash Offer

Want to bypass the traditional selling process? The Tosello Team will connect you a competitive, no obligation cash offer from an iBuyer for your home, so you can skip out on showings and move on your own time.

Fix Up, Sell Up

Get your home prepped for sale without the hassle or any out-of-pocket costs with a service provider.

Our Selling Programs:

Buy Before You Sell

Make a winning, all-cash offer. 

In the conventional home buying process, you need to sell your current home so you can purchase your next one. This leads to rushed decisions and unnecessary stress. Not anymore. 

We have access to a program to get you the cash you need to buy before you sell so you stay in control.

Sell Your House With Us

We will market your house like crazy to generate the highest price in the shortest amount of time. 




Learn More

Curious about what
your home is worth now?

We're able to explain what these numbers mean for you and your home's current market value. 

How Much Leverage Do Today’s House Sellers Have?

The housing market has been scorching hot over the last twelve months. Buyers and their high demand have far outnumbered sellers and a short supply of houses. According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), sales are up 23.7% from the same time last year while the inventory of homes available for sale is down 25.7%. There are 360,000 fewer single-family homes for sale today than there were at this time last year. This increase in demand coupled with such limited supply is leading to more bidding wars throughout the country.

Rose Quint, Assistant Vice President for Survey Research with the National Association of Home Builders (NAHB), recently reported:

“The number one reason long-time searchers haven’t made a home purchase is not because of their inability to find an affordably-priced home, but because they continue to get outbid by other offers.”

A survey in the NAHB report showed that 40% of buyers have been outbid for a home they wanted to purchase. This is more than twice the percentage in 2019, which was 19%.

What does this mean for sellers today?

It means sellers have tremendous leverage when negotiating with buyers.

In negotiations, leverage is the power that one side may have to influence the other side while moving closer to their negotiating position. A party’s leverage is based on its ability to award benefits or eliminate costs on the other side.

In today’s market, a buyer wants three things:

  1. To buy a home
  2. To buy now before prices continue to appreciate
  3. To buy now and take advantage of historically low mortgage rates while they last

These three buyer needs give the homeowner tremendous leverage when selling their house. Most realize this leverage enables the seller to sell at a good price. However, there may be another need the seller has that can be satisfied by using this leverage.

Here’s an example:

Odeta Kushi, Deputy Chief Economist at First American, recently identified a situation in which many sellers are finding themselves today:

“As mortgage rates are expected to remain near 3%, millennials continue to form households and more existing homeowners tap their equity for the purchase of a better home…Many homeowners may want to upgrade, but do not for fear that they will be unable to find a home to buy.”

She then offers a possible solution:

“While the fear of not being able to find something to buy will not disappear in a limited supply environment, new housing supply can incentivize existing homeowners to move.”

There’s no doubt many sellers would love to build a new home to perfectly fit their changing wants and needs. However, most builders require that they sell their house first. If the seller sells their home, where would they live while their new home is being constructed?

Going back to the concept of leverage:

As mentioned, buyers have compelling reasons to purchase a home now, and many homeowners have challenges to address if they want to sell. Perhaps they can make a deal to satisfy each party’s needs. But how?

The seller may decide to sell their home to the buyer at today’s price, which will enable the purchaser to take advantage of current mortgage rates. In return, the buyer might lease the house back to the seller for a pre-determined length of time while the seller’s new home is being built. A true win-win negotiation.

Not every buyer will agree to such a deal – but you only need one.

That’s just one example of how a seller might be able to overcome a challenge because of the leverage they have in today’s market. Maybe you feel a need to make certain repairs before selling. Perhaps you need time to get permits or approvals for certain upgrades you made to the house. Whatever the challenge, you may be able to work it out.

Bottom Line

If you’re considering selling your house now but worry a huge obstacle stands in your way, contact a local real estate professional. Maybe with the leverage you currently have, you can negotiate a deal that will allow you to make the move of your dreams.

Courtesy of Keeping Current Matters

What's Next:

Find "The One"

Your dream home awaits! We're here to guide you through the simple steps to a buyer's success.

Time For a Change?

Get excited about your next chapter! We bring patience, compassion, and calmness to what most consider an overwhelming process.

I'm Selling

Read a few of our sellers' stories!

Ivan and Gil-li 

The Banat's sold their home in 5 days for full asking price and moved to Florida.

Jennifer and John

Received 5 offers and sold for $15,000 over their asking price! 

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