East Dallas Real Estate & Homes For Sale

The median sales price is the middle price of all the real estate sales prices in Lakeland Hills. The median sales price is the price at which half of the properties sold for more and half sold for less. See how the median sales price in Lakeland Hills is trending the last 3 years and how it trends with the average 30 year fixed mortgage interest rate by month.

The average sales price is also known as the mean sales price in Lakeland Hills. The average sales price is calculated by adding up the sales prices or all properties sold in Lakeland Hills and then dividing that sum by the total number of properties sold. The difference between the average sales price and the median sales price is the average sales price can be influenced by outliers where the median sales price is not. See how the average sales price in Lakeland Hills has trended the last 3 years and how it trends with the average 30 year fixed mortgage interest rate.

Dive into the home sales trend for Lakeland Hills for the last 3 years. See each year by month or click the year on the x  axis to compare years or isolate one year at a time.

Inventory represents the active supply of homes available for sale by month for the last 3 years in Lakeland Hills. Inventory provides an indication of the balance between housing supply and demand. It offers insights into whether the market favors buyers or sellers. Lastly, inventory is used as a guide by buyers and sellers in their decision making process.

Pending simply means that the seller has received and accepted an offer on their Lakeland Hills home. However, the deal has yet to be finalized and is the last step before the home is sold. Pending status also means that all contingencies have been met by both buyer and seller. 

Days on market is a measure of how long it takes for a house to sell after it has been put on the market for sale in Lakeland Hills. It is calculated as the number of days between the listing date and the pending date. Days on market is a great  indicator of whether you're in a buyer's market or a seller's market. Typically less than 90 days is a seller's market. More than 90 days is typically a buyer's market. 

The absorption rate (months inventory as it also known as) is the main metric that determines a buyer's market or seller's market. The definition of the absorption rate is if no other homes come on the market (additional inventory) it is the rate at which it will take all of the current market inventory to sell. The rule of thumb: <4 months inventory is a seller's market. Between 4 months and 6 months is a balanced market. 6 months or longer indicates a buyer's market. 

Sales price to list price ratio is the final sales price (what the buyer paid for the home) divided by the original list price expressed as a percentage. If it's above 100%, the home sold for more than the list price. If it's less than 100%, the home sold for less than the list price. This is another great gauge for buyer's and seller's to see the health of the Lakeland Hills real estate market.