Recently, we analyzed counties throughout DFW and how the housing market faired in December 2022.
Transitioning to specific cities, today we look at Lewisville, TX.
For December 2022, Lewisville, astoundingly saw it's first yearly decline in the median closing amount. The result was a median of $346,500 or -4.6% versus December 2021.
While listings have surged over 200%, inventory is still quite sparse at 1.2 months. For perspective, 2-3 months is considered healthy in most instances.
Seller expectations have obviously changed as is reflected in the median closing amount for the month. Looking at how days on market increased from 17 to 39 days during the period, it's clear that the climate is slowly becoming more of a buyers market.
Pro tip- for December 2022, Lewisville saw a median closing amount that was -5.1% of the original listing amount. If you are looking in Lewisville, consult with your Realtor and use this stat to help in crafting your offer.
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Talk soon. Eddie
