Know what the recent numbers mean so you do not confuse asking prices with final outcomes.
If you are about to start touring homes and do not want to overpay, use closed prices as your anchor, not the list price you see online. In Richardson, TX, the typical asking price for active homes was $449,250 last month, while the typical closed price was $432,500.
If you only remember one closed data point right now, make it $432,500 as the typical closed price last month. This changes your plan because active homes in Richardson, TX were typically listed at $449,250, and new listings came on at $460,000. That spread tells me some asking prices were testing the market above where deals actually closed. That matters because a buyer who shops only by asking price can misread leverage. Recent offers landed at 96.1% of asking, and a typical sale took 31 days last month. This was still labeled a seller's market, but it was not a market where every listing automatically got full-price terms. Looking at the latest numbers, the clearest signal was the mix of fresh supply and negotiation room. There were 118 new listings last month, up 14.6% from the prior month. At the same time, the typical asking price per square foot for new listings was $217. My advice is to screen homes by closed-price reality first. Compare a home's asking number to the recent typical close before you commit emotionally. Tour quickly when a home fits, but use the recent closing gap to shape your offer strategy and your walk-away line.
About Mercy Le Fevre
Mercy Le Fevre is a licensed Real Estate Professional affiliated with eXp Realty, specializing in the Richardson market. With a focus on strategic marketing and deep local knowledge, Mercy Le Fevre provides clients with expert guidance in navigating complex real estate transactions. View full profile →
