Coppell, TX had a stable previous week in the SFR real estate market.
The stat-line included 5 closings that resulted in a 800k sales price or $239.68/sqft on a median basis.
Days on market stayed above pre-Fed rate hikes at 31 days as well. What's most impressive was that the median sales price continued to exceed the original listing price despite recent rate increases at 101.3%!
53 active listings for the previous week saw median days on market increase to 34 days while the median sales price came in at $649,900 or $251.13/sqft.
If every week was like the previous in Coppell, it would take 10.6 weeks or 2.65 months to sell through inventory on an active-only basis. This compares to 1.5 months in September 2022.
As with other parts of DFW, Coppell continues to see inventory rise, increasing the likelihood of an eventual decline in YOY median sales prices.
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Talk soon. Eddie.
