When comparing to 2021, Lewisville, TX had an insightful week in the SFR real estate market.
17 closings brought a sales price of $372,000 or $217.47/sqft while being on the market for 19 days- all on a median basis.
With inflation continuing to ripple through the economy, it's been difficult to analyze the stability of the SFR real estate market.
A key figure helping has been sales price % vs listing price %. This week saw a closed price that was 98.7% of the original listing price- showing adjustments in strategy on the part of sellers and their agents.
A year ago, Lewisville saw a sales price that exceeded the initial listing price at 102%! Homes were selling laser-fast and multiple offers were piling up.
When you focus on sales prices only, it doesn't always tell the full story like SP% vs LP%. Keep an eye on this metric as expectations continue to adjust in our market!
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Talk soon. Eddie.
