Wichita Falls Real Estate Market Report - May 2017

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Real Estate Agent with Keller Williams Realty

Wichita Falls Real Estate Market Report - May 2017

Enjoy this Wichita Falls Real Estate Market Report for May 2017.  You may also search for homes for sale and save your favorite properties.  Set up a search and be alerted when new properties matching your criteria come on the market.

Wichita Falls Housing Market Rising off Strong First Quarter

Here is a look at the Wichita Falls Real Estate Market for May 2017.  According to a report released on May 12th by the Wichita Falls Association of REALTORS® (WFAR) 166 single family homes sold in April up from 153 homes sold in April 2016.  This is a 8.5% increase in home sales year over year with a corresponding 19% increase in sold volume.

 

Average Days on Market Wichita Falls TXWhen we look at the market trends the month's of inventory is a key number.  This number is the total number of sales in a given month divided into the total number of active listings.  In this case 166/537 = 3.2.  This means if no other listings were put on the market and the same number of homes continues to sell, it will take 3.2 months to exhaust the current inventory.  A neutral market is considered 6 months of inventory.  Anything less than 5 is considered a seller's market and anything greater than 7 is considered a buyer's market. Wichita Falls is Currently in a Seller's Market

What Does This Data Mean if I am Selling a Home in 2017?

Read the entire article here

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Tim Lockhart

Real Estate Agent Keller Williams Realty
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