The Dallas Real Estate Market is crazy right now! Really, any real estate market is crazy right now!
Inventory in Dallas just hit 64% decline from homes listed February of 2020! And the ones that are on the market are selling on average in 37 days compared to 70 days as the national average!
These stats are shocking, but make a lot of sense. It is all about supply and demand. Right now home buyers are demanding homes. So they are snapping them up. However, it does not mean that all homes will sell!
We are still in a modern real estate market. That means buyers are actively looking for homes with websites like Zillow, and Realtor.com telling them the estimated price of a home. Both a blessing, and a curse. Buyers are more educated right now then ever. They can tell when a home is too much.
Now, if you live in a top city like Frisco or Plano with the best schools in North Texas, then buyers might be more willing to over pay as much at $50,000 or $75,000 to get their children into the best school district. That is one luxury that Dallas does not have. Our school district is very low rated.
Right now I have one of the most beautiful listings at 7602 Roper Street that is about to hit the market. It is phenomenal, but it is in a very up and coming area. With Dallas School District. And it was over priced by about $75,0000 when we first listed it a few months ago. We had tons of activity, but buyers did not want to over pay that much for the home. So, we took it off the market during the historic ice storm to let it reset. Now, we are are to re-list it to sell fast!
When you re-list a home you can not just drop the price. Especially, when there was a lot of feedback that was holding the home back from its true potential. So, some changes need to be made. Which include adjusting the price, adding some additional curb appeal, changing up the staging, adding a few new accessories, taking new photos, and planning a big marketing campaign.
Some home sellers are afraid to go big the second time around. They don't want buyers to be thrown off by it not selling the first time around.
That doesn't matter. You have to go big or go home. You have to embrace that it is getting a relaunch. You want buyers to know you are serious about selling the home! Home buyers will appreciate it. They won't think something is wrong with the home or anything like that. They will realize that you love the home.
7602 Roper Street is getting a re-vamp! And that is okay. Change is good. It is what will get the job done. Luxury real estate is a special category. I have been selling luxury homes in Dallas for over 6+ years now. With high price points over a million dollars come very picky buyers! They want the red carpet rolled out for them. If they didn't feel like that the first time to justify the price, then do it the second time around. Just spend wisely. Make smart, well though out decisions.
I am excited for this new luxury relaunch. Marketing homes is what I do for a living. It gets my creative juices flowing! I am ready more then ever to have my "come back story"! Roper Street Returns! Call me for all your buying, and selling needs!
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