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How COVID-19 Is Impacting the DFW Housing Market

September 2020


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 September 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   

Tosello Team Stats in August 2020

29

Average Days on Market

99.71%

Average Sale-to-List Price

 DFW Stats in August 2020

$411,762

Average Sales Price

$153.55

Average Price Per Square Foot

32

Average Days on Market

1.09

Months of Supply

DFW Stats in August 2020

840

New Listings

929

Pending Sales 

(including option, contingent and kick out)

876

Active Listings

916

Closed Sales

DFW

Homes Sold

99.1%

Sale-to-List Price


The Tosello Team Sells Houses Faster & For More Money

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

The average agent sells in 32 days, The Tosello Team sells in 29 days!!

The average agent sells their listings for 99.1% of list price, The Tosello Team sells their listings for 99.71%!

The Surging Real Estate Market Continues to Climb

Earlier this year, realtor.com announced the release of the Housing Recovery Index, a weekly guide showing how the pandemic has impacted the residential real estate market. The index leverages a weighted average of four key components of the housing industry by tracking each of the following:

  1. Housing Demand – Growth in online search activity
  2. Home Price – Growth in asking prices
  3. Housing Supply – Growth of new listings
  4. Pace of Sales – Difference in time-on-market

The index compares the current status “to the January 2020 market trend, as a baseline for pre-COVID market growth. The overall index is set to 100 in this baseline period. The higher a market’s index value, the higher its recovery and vice versa.”

The graph below charts the index by showing how the real estate market started out strong in early 2020, and then dropped dramatically at the beginning of March when the pandemic paused the economy. It also shows the strength of the recovery since the beginning of May.

Today, the index stands at its highest point all year, including the time prior to the economic shutdown.


The Momentum Is Still Building

Though there is some evidence that the overall economic recovery may be slowing, the housing market is still gaining momentum. Zillow tracks the number of homes that are put into contract on a weekly basis. Their latest report confirms that buyer demand is continuing to dramatically outpace this same time last year, and the percent increase over last year is growing.

Clearly, the housing market is not only outperforming the grim forecasts from earlier this year, but it is also eclipsing the actual success of last year.

*Courtesy of Keeping Current Matters*

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. 

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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