Yesterday we saw how far the Lewisville, TX real estate market has fallen in comparison to a year ago.
Looking at Coppell, TX in today's update, we see similar results, though not as dramatic.
Coppell, a suburb of Dallas known for its quiet and elegant feel, has commanded a strong $/sqft and premium on offer amounts due to the environment, infrastructure, schools and more.
Comparing the previous week in Coppell to the same period in 2021, we see how Fed rate hikes are affecting the local market.
2021 saw a stat-line that included 10 closings, $208/sqft, $486,000 and 12 days on the market- all on a median basis.
In contrast, the last week in Coppell has seen sales drop 50% YOY to 5, while $/sqft and sales prices have surged to $231.38/sqft and $532,500 respectively. Days on market has also doubled YOY to 24. These stats also represent a median basis.
As is the story throughout DFW and specifically Dallas County, the goal will be for prices to begin falling to correct the rate hikes and declining sales.
With 43 active listings in Coppell recording a median of 48 days on the market, it's clear that buyers have an opportunity to offer beneath the asking amount- and win!
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Talk soon. Eddie.
