East Texas Real Estate Market Update (July 2023)

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

We just received the single family sales reports for the month of July that I think you will find very interesting and beneficial. Personally speaking, I have buyers who are having a very hard time finding houses. Inventory is extremely tight. As you know, I like to be proactive and do everything I can to help secure a home for my buyers whether it's on or OFF the market! I’m curious…who have you spoken to recently that might be open to selling their home? Here's what my buyers are looking for:

  • 3/2 on 1+ acres in the ETX area (it's okay if it needs a little TLC)

  • 3/2 within 15 minutes of Longview with a master bedroom split or bonus room that allows for "separate" living space

  • 2/1 or 3/2 in Longview (needs to be move-in ready with no major issues)

  • 3/2 with a shop or 4/2 in the ETX area (needs to be move-in ready with no major issues)

  • 3/2 on Oak Creek Ridge, Celebration Way, or Page Creek Trail (move-in ready)

These are buyers who have been looking for MONTHS! That’s how limited we are on inventory…STILL! This has been going on for the last few years now. It hasn’t gotten any better. I am continuing to be on the lookout for listings because there is such a growing need for them!

Here’s the East Texas real estate market update for the month of July:

  1. The average sales price DECREASED from $305k last month (30 days ago) to $300k this month (60 days ago it was $285k and 90 days ago it was $265k). This is the first time we’ve seen a DROP in a hot minute.

  2. There is 2.8 months of inventory! This has also gone up slightly. Just as a reminder, anytime this number is BELOW 6 months, we are in a seller’s market. SELLERS ARE CALLING THE SHOTS!

  3. The average days on the market is 63 days.

  4. There were 68 closed sales.

  5. There were 192 active listings.

  6. 44.6% of buyers are purchasing houses between $200k-$299k. THIS IS IMPORTANT! If you think your home falls within this price range and you are open to the idea of selling your home, let’s chat or take time to fill out this client form.

If you’ve been tossing around the idea of selling your home, here’s 3 reasons why you should reach out to me:

  1. You need a professional real estate agent who knows exactly what is going on in your current real estate market. I know the stats and I know what’s going on in the market! I’m here to give you the FACTS about the ETX real estate market!

  2. I can tell you the TRUE value of your home. Don’t hesitate to ask. It’s not a burden or a waste of time! This what I am here for. I’m always happy to run a free home equity report on your home so you can have an accurate idea of what your home’s current market value is. I’m here to do what is in YOUR best interest! Not mine. I have no problem being the bad guy and I don’t cut corners when it comes to ensuring we get you TOP DOLLAR for your home!

  3. I have folks who text me asking me all sorts of things real estate related which I LOVE! That’s what I’m here for. Even if you’re not personally looking to buy/sell, I’m here to answer any questions you have about real estate. If I don’t know the answer, I’ll tell you…and then I will find out the answer for you!

Feel free to call me at (903)241-2608 or shoot me an email at kristinkoonce@gmail.com if you’d like to know more about what I can do for you or if you’d like for me to run a comparative market analysis on your property! You can also complete my seller’s intake form on my website and I’ll take it from there.

As a reminder, I am never too busy for your referrals and my entire business revolves around them! You help my business grow and help keep food in Gwennie’s dog bowl when you send others my way when you hear they are looking to buy or sell property. I appreciate your referrals more than you know because my business wouldn’t exist without them.

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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