With February upon us, we look at the projections for the Lewisville Housing Market in January.
As mentioned with other reports this week, these projections are preliminary and not final. Mid-February will bring official results for the first month of 2023.
With that said, Lewisville has included 46 closings in January, almost identical to December when 51 closings were officially reported.
The median closing amount increased to $391,750 while $/sqft decreased from $210.71 to $199.98 thus far. While these two metrics tend to contradict one another, it's fair to focus more on the $/sqft where total square footage is micronized.
Days on Market decreased from 45 to 35 days in January, showing increased movement for Active properties in Lewisville.
Lastly and maybe most notably, on a median basis, the median closing amount came in at 98.5% of the original listing amount. A 4.4% improvement from December '22's 94.1%.
This statistic helps us see that purchasers and sellers actually became more in-sync in January. Sellers are adjusting their expectations and a purchaser's market might be upon us soon if not already.
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Talk soon. Eddie.
