East Texas Real Estate Market Update (Feb. 2023)

Tips for BuyersTips for Sellers
Written By Kristin Koonce Burroughs, REALTOR®

I typically send an email out with a market update but figured I’d include that information here as well. I want you to always feel like you have someone to turn to for trusted, reliable information! Especially when it comes to real estate. I want you to be in the loop so you know whether or not it’s a good time for you to buy/sell property.

Here’s what you need to know about the current real estate market here in East Texas:

  1. We’re still in a strong SELLER’S market which means sellers still have the upper hand in negotiations (although buyers do have more power than they did in the past).

  2. The average sales price INCREASED from $243k in January to $261k in February and prices are continuing to INCREASE! We are not seeing very many price reductions (unless the home was overpriced to begin with).

  3. A home's average days on the market increased to 77 days (it was 74 last month).

  4. The average absorption rate is 2.2 months! This is how we know we’re in a seller’s market. Anytime that number is less than 6 months, it’s a seller’s market. If its’ greater than 6 months, it’s a buyer’s market. This number decreased a little from last month!

We’re still experiencing multiple offer situations. Buyers may not be up against 8-10 other offers, but they may be up against 2-3. Both of my listings received multiple offers! As you can see, inventory is still low. If you have been thinking about selling your home, now is most definitely a good time to do so. I’m always happy to run a free comparative market analysis on your home so you can see what price point you’d be looking at in today’s real estate market!

Let me know if you have any questions! I’m here for you and want to help you/your family/your friends in whatever way I can!

Kristin Koonce Burroughs, REALTOR®
(903)241-2608
kristinkoonce@gmail.com
BOLD Real Estate Group

Kristin Koonce Burroughs, REALTOR®

My name is Kristin Koonce Burroughs and I’m a REALTOR® in East Texas for BOLD Real Estate Group.

For starters, I’m not your average real estate agent! I jumped into this business boldly four (4) years ago because I want to make a difference. I want to do what other realtors aren’t doing.

My entire business is built around loving people well. That’s my business philosophy and that’s what I’m all about! I want others to be so delighted with my services, they can’t help but tell their friends about their experience with me. I want my clients to say, “Working with Kristin is better than trying to do this alone.”

In regards to my work ethic, I’m a morning person and I get the majority of my work done before most people’s alarms go off. I’m creative, proactive, a go-getter, self-disciplined, and self-motivated with an appetite to grow and be better than I was yesterday. I’m a problem solver who is strategic and thinks outside of the box. I have a lot of energy, talk fast, work quickly, and don’t drag my feet. I care a great deal about offering integrity, kindness, grace, and punctuality to the clients, agents, lenders, inspectors, appraisers, and title companies I interact with. I treat every client as if they were my only client because that matters to me. Folks can tell when a realtor is too busy or inattentive.

I’m not in it for the money, but I will absolutely earn my paycheck. Realtors are the most expensive part of a real estate transaction. If someone is going to trust me with the biggest financial decision they will ever make, then you can bet your bottom dollar I’m going to make sure they get their money’s worth. I’m going the extra mile. It’s who I am. I put my all into everything I do.

So, if you’re looking for a real estate agent in East Texas who can help you list property or buy property, let’s chat. You won’t regret it.

https://www.kristinkoonce.com
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