Coppell, TX offers an interesting situation for the real estate market.
While Dallas County as a whole, has seen listings surge and closed sales decrease due to recent Fed rate hikes, Coppell is a different story.
While closed sales have decreased 31.3% versus September 2021, active listings are 9.2% beneath the sizzling market of 2021. This offers hope that supply/demand can keep balance amidst expected volatility in the real estate markets heading into 2023.
A scenario like this, really emphasizes that real estate markets, recessions and booms are all local.
Months inventory, which gauges the supply/demand of a given real estate market was 1.6 months for Coppell, .2% versus LY. This is another piece of key data that shows an almost unchanged market in terms of supply.
Median days on market did tick-up to 32 days- 14 more than LY, reflecting a greater Dallas County trend.
The narrative here, is while less buyers seem to be present, due to recent rate hikes that have affected mortgages and housing affordability, Coppell seems to be holding-strong in terms of the real estate market and how it compares to September 2021.
Will this continue?! Let me know!
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Talk soon. Eddie.
