Texas REALTORS® April 2023 Killeen-Temple Housing Report is out!

Keeping abreast of the latest real estate market trends is crucial for anyone involved in buying, selling, or investing in properties. By understanding these numbers, you can gain valuable insights into the current state of the housing market and make more informed decisions.

  1. Active Listings: The number of active listings refers to the total properties available for sale during the month. It indicates the level of supply in the market. There was a slight decrease in active listings from March (1,303 active listings). This decline in active listings shows a reduced inventory of available properties. While this may create a sense of urgency among buyers to act quickly, it also suggests a potentially less competitive market for sellers.
  2. Closed Sales: Closed sales represent the number of properties that have successfully completed the transaction process during the specified timeframe. In the April market report we see decrease in closed sales from March (587 closed sales). This decline suggests a slight slowdown in buyer activity and demand in the market. Sellers may need to adjust their pricing strategies and consider other incentives to attract potential buyers. On the other hand, buyers may have more negotiating power and a wider selection of properties to choose from. It’s important for both buyers and sellers to stay informed about market conditions and adapt their strategies accordingly.
  3. Median House Price: The median house price provides an important measure of the average cost of homes sold in a particular area. In the market report, the median house price experienced a slight increase from March ($260,000). This rise in median price can be attributed to various factors, including limited housing supply, high buyer demand, and desirable location features.
  4. Days on Market: Days on market (DOM) refers to the average number of days it takes for a property to go under contract after being listed. In the market report, the average DOM decreased compared to the previous month (68 days on market in March). This decline suggests we are still experiencing a somewhat faster-paced market.

The April real estate market report provides a snapshot of the current housing market conditions, helping buyers, sellers, and investors make informed decisions. We can see that the Killeen-Temple market remains vibrant and competitive.

By staying updated on these key metrics, you can navigate the real estate landscape more effectively, whether you’re looking to buy, sell, or invest in properties. Armed with the knowledge from the market report, you can make well-informed decisions and seize opportunities in this active real estate market.

*It’s important to remember that these stats change every day and that it’s important to connect with a local agent to stay up-to-date with current market trends.

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