In spite of the doom and gloom we are hearing these days on the news every day, this could not be a better time to purchase a home in Southlake, TX. If you're an existing home owner in Southlake, maybe uncertain about selling, you'll find the current market is extremely active with serious buyers.
If you're looking to buy a home, there is about 3.5 months supply of new listings, a stable price market and better interest rates than we've seen in some time.
If you're currently renting and haven't yet ventured into Southlake home ownership, we've provided suggestions below that could help with your decision.
Southlake Real Estate Stats
We know this is a great time to purchase real estate in Southlake, but don't take our word for it, here are the current stats for August 2019.
Selection
There is a great selection of homes on the market, and offered by motivated sellers. Sellers are receiving an average of 95.9% of the list price for single-family homes.
Stable Real Estate Market in Southlake
Average prices have increase slightly: 4.7% since August 2018 for single-family homes. This is enough to demonstrate a stable buyers market without any ridiculous price spikes. Southlake homes are remaining on the market for about 59 days on average, which is great for sellers.
North Texas Overall Market
The numbers above are specific to city of Southlake. The graphic below shows the current state of residential real estate in North Texas for month of August 2019
Texas Mortgage Rate Trends
Current rates in Southlake, Texas are 3.65% for a 30 year fixed loan, 3.0% for a 15 year fixed loan and 3.0% for a 5/1 ARM.
This data was taken from Realtor.com and based on rates as of October 12, 2019. You can see that the interest rates have gone down over the past 30 days, and have currently settled in a range below 4%.
New Home Construction Options in Southlake
The new home construction industry in Southlake is booming. What many people don't realize, you can own a brand new home or townhome in Southlake for under $400,000. In fact, there is a huge range of available inventory ranging from the $350,000s into the millions - basically something for everyone.
Tips: Looking for A Top Southlake Real Estate Agent?
When looking for a top real estate agent in Southlake, how can you look for a real estate agent who excels in their field?
You need to look for a real estate agent with designations and certifications.
About us:
If you are interested in moving to our great city of Southlake and need help finding a home, I would appreciate the opportunity to help you. I have lived in Dallas metro area for over 16 years. With nearly 40 suburbs in the Dallas area, with our help, you are sure to find a neighborhood to match your “must-haves” list and narrow down your top choices. Contact us for an in-depth analysis of your needs and recommendations along with market reports of various neighborhoods! Discover new construction homes or master planned communities in Southlake TX, Allen TX, Frisco TX, McKinney TX, Prosper TX, Coppell TX or Irving TX which offer homes to suit every lifestyle and budget.Since many of my clients are relocation buyers, I have all the tools you need to help your home search in Southlake, TX. Whether it is video previews of homes, extended work hours, digital signatures for documents or more, I can make this process as comfortable as possible no matter where you are located.
