Wow! What a year. Records were shattered in 2019 for residential sales in Hunt County, Texas.
In January 2019, I predicted:
“total residential sales will be up slightly and the average sales price will exceed $200,000”.
What I got right and wrong…
Right: Average sales price jumped over 12% and came in at $219,801
Wrong: Total sales went up over 11% more than just a slight increase
Right: I did predict that in the future for us to see a big jump in total sales we would need to have more new construction (spec houses) and we did. Thru the MLS system 248 new home sold in 2019 compared to 174 in 2018. More on new construction is a future blog.
Here are how the numbers came out for Hunt County, in 2019:
Total Residential Sales: 1267
Average Days on Market: 50
Average Sales Price: $219,801
Median Sales Price: $193,900
In 2018, there were:
Total Residential Sales: 1127
Average Days on Market: 45
Average Sales Price: $196,005
Median Sales Price: $176,750
For 2020, I am going to predict yet another seller’s market. With favorable interest rates, low supply ( we have around a 3 months supply of homes on the market compared to a more traditional 5-6 months) and strong buyer demand, I don’t see the market slowing down yet.
What we do need in order to have continued improvements in real estate market for 2020 and beyond is more job creation in Hunt County and many of our school districts need to make improvements. People will move here when there are jobs available and families want to live were the schools are good.
Sales data was gathered from the North Texas Real Estate Information System on January 6, 2020.
Hunt County Real Estate provides real estate services to residential buyers and sellers in Hunt County, Texas. Contact us today for more information on Hunt County real estate and for professional assistance navigating this sometimes complex home market. You can visit our main website at www.HuntCountyRealEstate.com