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Wichita Falls September Real Estate Market Update!

By Tim Lockhart

Real Estate Agent with Keller Williams Realty

September 11, 2014 02:19 AM

Home Prices in Wichita Falls for September 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 2 sales in August 2014. 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 people 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 78 average days on market in August 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 August for single family homes in Wichita Falls is $117,730. The sales prices decreased by 1.06% from the previous month.
The sold dollar volume in August was $16,128,962 which is down slightly from $18,672,368 in August 2013.
We have 973 active listings for August vs. 830 in August 2013, an increase of 17% from last year.
Average Days on Market for August 2014 was only 62 days, significantly less than this time last year which was an average of 78 days on market.
137 sales closed in August vs. 149 sold listings this month last year.
This results in 7.10 current months of inventory, which puts us in a neutral market leaning towards a buyers' market.