Happy New Year!
Looking at how Irving, TX faired from 12/3/22-1/3/23, there are signs of improved expectations.
Closing amounts declined beneath the original listing amount at 98.3%, exemplifying how sellers are beginning to accept offers beneath their initial listing amount.
This being a byproduct of the median days on market increasing to 30 days, compared to 7 days in the same period last year.
$/sqft came in at $195.39 for the current period, beneath medians of summer 2022, however still an increase YOY.
Lastly, closings declined 29%, consistent with previous months and increasing mortgage rates.
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Talk soon. Eddie.
