As we wrap-up the first month of 2023 and prepare for monthly results in the housing market, we are going to analyze specific cities in DFW.
Utilizing NTREIS- an informational source on real estate data in North Texas, today we look at Irving, TX.
As of 1/30/23, January has resulted in 43 closings that were on the market for a median of 29 days.
The median closing amount came in at $355,000 or $190.08/sqft.
This result brought a median accepted offer that was 97.6% of the original listing amount.
This compares to December 2022, when 80 closings brought a median amount of $335,000 or $196.12/sqft.
Days on Market in December were increased to 42 days while the median accepted offer was at 93.3%.
Distilling these facts, we see that while the median closing amount increased in January thus far, it was mainly the result of larger homes closing. We see this as $/sqft decreased in January from December.
Days on Market decreased in January by 13 days to 29 total while the median accepted offer increased 4.3% to 97.6%, still beneath the original listing amount however.
Most notably as mentioned above, seems to be that $/sqft has decreased month over month to this point continuing to boost affordability for purchasers and level the playing field.
It is also worth noting that the month is not over in terms of January results, so we will report official results as they come available.
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Talk soon. Eddie.
