When supply is limited, the best move is filtering hard before you fall in love with a home.
If you are trying to choose between several homes and do not want to make a costly compromise, start by accepting that selection is limited enough to matter. In Richardson, TX, supply stood at 2.95 months last month, so I recommend deciding your must-haves before your next showing.
Here is the constraint I plan around based on the previous 30 days 2.95 months of supply. That matters because the right home in Richardson, TX may not wait for a long internal debate, especially if it is priced near where homes are actually closing. A typical sale took 31 days last month. This changes your plan because there was still some negotiating room. Recent offers landed at 96.1% of asking, and the typical closed price was $432,500. That tells me buyers had leverage, but not endless leverage. One number to respect from recent listing activity is 118 new listings last month. Fresh options were arriving, and their typical asking price was $460,000. Over the last three months, newly listed homes had a typical asking price of $434,500 and a typical nine days on market in the new-listing group summarized for sale activity. My recommendation is simple. Rank your top three needs before you tour another home. Eliminate listings that miss those needs even if the photos are appealing. When a home checks the right boxes and is priced in line with recent closings, be ready to act with a clean, informed offer instead of waiting for perfect certainty.
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 →
