What is your home worth today?

Today is May 2, 2018 and its time to look back and see the Tarrant County Market Trends over the last three years and month over month between April 2017 and April 2018. Looking at our graphed trend below, we can see the median price for all homes in Tarrant county:

TARRANT COUNTY MEDIAN HOME PRICE:

• Jan 2015 to April 2018 - Rose from $162,750 to $235,000 / Median Market Value Increase during 3 year 4 month period - $72,750/ $1806 per Month 
• April 2017 to April 2018 - Rose from $219,000 to $235,000 / Median Market Value Increase during this 12 month period - $16,000 /$1330 per Month  

Two noteworthy things that stand out to me:

1. The Tarrant County Housing market is continuing on a long term trend with a steady increase
2. The rate at which prices are rising in the Tarrant County housing market has slowed some but it remains an overall robust market.

Relevant factors:

• People continue to move into the state and into the Dallas/Fort Worth area, adding pressure onto the existing home supply.
• Builder new home construction is increasing in the area but so far has not kept up with overall demand on the need for new homes.
• We continue to receive multiple offers on properties priced below $250,000 which drives up home prices due to the demand. As these homes sell for higher and higher prices, it ultimately drives up the price for those homes in higher price bands causing a ripple effect, although this factor occurs at a slower rate of increase.
• We need new inventory of existing homes to keep up with the overall demand.
• Home prices will continue to rise and the median price will continue to increase.

Investors in the stock market check the state of the market throughout the day every day. Yet, while some home owners try to divine what their home is worth on Zillow, what do you (or they) really know about the market value of your home? Nothing substitutes for real up to date data. Shouldn't you be Interested in what is happening with market trends in your particular neighborhood, i.e., sales price, days on market, months supply of inventory and more? We can help with that! Give us a call today at 817-269-1660 and let's set up a free no obligation appointment to discuss what your home might be worth. You might be very surprised to earn how much equity you have in your home. What have you got to lose, call us today!