Market conditions for Keller, TX April 2013 by Lois Knez, Keller Williams Realty
Keller, TX Real Estate Market Summary:
Recent data continues to show the Keller, TX housing market is in full recovery mode! During the last 12 months Keller's sales volume increased 32% year-over-year. The median sales price last month was up slightly (.08%) from February. There are currently 201 active listings on the market with an average list price of $452,450 and average price/square foot of $123.
The housing inventory in Keller, TX has been
steadily decreasing over the last couple years. Inventory is an
indicator of the balance between supply and demand for homes. The Keller
real estate market currently offers a 4.1 'months supply', which is
down 35.5% from 6.3 one year ago. A 6-month
supply of inventory represents a balanced market. Less than 6 months is
a seller's market and more than 6 months is considered a buyer's
market. If inventory levels continue to shrink, we will move closer to a
If you're considering buying a home in Keller, TX you can still find great deals but having a good real estate agent who understands the local market is a must! Don't sit on the fence too long, as many of the quality listings are starting to move quickly. In the last 12 months, average days on market (DOM) for Keller listings dropped to 81 compared to 108 DOM in previous year.
Mortgage rates are still at historic lows, but this trend will not last forever! If you're a bargain shopper the best time to buy a home is now, since low rates mean big savings for your mortgage payment and closing costs! Another thing to consider is that our shrinking inventory will continue to drive up demand and home values are soon to rise. Homes are still affordable today, but like low interest rates, it won't last forever..
If you or someone you know is considering buying a home in the Keller area, please feel free to contact me.
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