Happy Spring, neighbor! This month’s Lochwood update includes sales from both February and March, which is why there are so many on the list.
There were two very notable sales last month. The first was at 11710 Farrar. This listing had been on and off the market since April 2019. Yes, that’s right. It had been on the market for two years, and it finally sold in March 2021. Wow! That’s a long time to wait for a property to sale. It’s also why the percentage of original price is so low.
The second notable sale was at 11540 Rockcraft. Mid-century modern architecture always fetches a premium sale price, but the price goes even higher if it’s an original Ju-Nel. There are only 50 Ju-Nel homes in Dallas. Many are in East Dallas, and several are in our neighborhood and Eastwood on the other side of Easton.
Other than mentioning those two sales, the local real estate market in Lochwood and throughout DFW is pretty much the same story. We have little to no inventory or properties for buyers to purchase (supply) and an over-abundance of buyers looking to purchase a home (demand). Being a home buyer in this market is no joke. Properties that are priced correctly receive multiple offers, and buyers who have plenty of cash are more than willing to pay over list price and come out of pocket to pay for any difference in appraised value. It’s a seller’s market and will likely stay that way for some time.
If you’ve kicked around the idea of making a move, there is truly no better time to sell your home. Call me! Let’s chat and figure out a real estate strategy to move your into your next adventure!
Thank you and have a great day,