Shrinking Home Inventory In Mansfield
Home buyers shopping for affordable homes in Mansfield, TX have learned that there isn't much to choose from lately. Home inventories have dropped by more than 40% the past year, while time on the market has dropped in a similar fashion. Mansfield's ideal location, between and Dallas and Fort Worth, just south of Arlington is very convenient. It boasts a small-town community feel and offers highly-regarded schools to young families.
Homes In Good Condition Sell Fast, At Or Near Full Price
I listed a 30 year old, 1,600 square foot home about six months ago at $124,900, and was surprised - even shocked - what i learned in preparation for putting the home on the market. There were less than 15 homes priced between $100-125,000, out of an overall inventory of 350 homes. That number has remained steady the past 6 months, which bodes well for the continually-improving health of our local real estate market.
My listing featured a lot of upgrades and updates, and sold near full price in 6 days, with 2 strong offers.That selling price was approximately 6-7% above what I projected just 9 months ago, another positive trend. Today there were only 13 homes available in that price range, and about 30 in the $125-150,000 price range.
It's safe to say that it's a seller's market in Mansfield, TX, at least in the "very affordable" homes category.