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Wichita Falls Real Estate Market Update!

By Tim Lockhart

Real Estate Agent with Keller Williams Realty

August 20, 2014 01:49 AM

Home Prices in Wichita Falls for July 2014

Real estate market data for Wichita Falls, TX provided by Tim Lockhart of Keller Williams.

Wichita Falls Home Prices

We are having great success in today's Wichita Falls real estate market. We closed 8 sales in July 2014 putting Tim Lockhart in the top 10% of all real estate agents in the Wichita Falls Association of REALTORS. Also, 7 of our listings this year have sold in 30 days or less. Your home might be worth more than you think!

We have seen stability in home values. There some peope speaking negative things about people moving out of town because of the water situation and such, however the numbers just do not support these claims.

If you are considering buying a home you can still find deals on a house in Wichita Falls but having a good real estate agent who understands the market is a must. Don’t wait on the sidelines for too long, many of our listings are starting to sell within a few days of hitting the market. Listings are not necessarily selling exactly for asking price. To make sure you don't overpay for your home, you'll want to have an agent that does a thorough market analysis of the Wichita Falls home on which you are making an offer.

High inventory will suggest that homes are sitting on the market for longer. Currently in this area of Wichita Falls, homes have a average time of just over two months on the market before they sell. This is down significantly from 81 average days on market in July 2013. Sellers should make sure to price their home near the market value if they expect to get an offer from one of those interested buyers. I wouldn't expect a great run up in home prices as banks are still a lot stricter on lending guidelines and are no longer giving a loan to anyone with a pulse. But low inventory with consistent demand is one indicator that prices should rise.

Wichita Falls Real Estate Report Summary

The average sales price in July for single family homes in Wichita Falls is $124,482. The sales prices decreased by 1.19% from the previous month.
The sold dollar volume in July was $18,672,368 which is up slightly from $18,570,732 in July 2013.
We have 941 active listings for Julyvs. 844 in July 2013, an increase of 11% from last year.
Average Days on Market for July 2014 was only 68, significantly less than this time last year which was an average of 81 days on market.
150 sales closed in July was vs. 150 sold listings this month last year.
This results in 7.81 current months of inventory, which puts us in a neutral market leaning towards a buyers' market.