If you’re a homeowner wondering if this is a good time to sell your house, real estate data offers a compelling argument.
In recent months, North Texas home prices have risen at the fastest pace in more than a decade, with the median price of a single-family home jumping 16 percent to $312,000.
The surging home prices come as the number of houses for sale has dwindled below a one-month inventory.
“The lack of supply, particularly for homes priced under $300,000, is one of the greatest challenges to the housing market,” said Dr. Luis Torres, research economist for the Texas Real Estate Center at Texas A&M University.
Jane Clark, a Dallas and Collin County Realtor with Keller-Williams, says today’s real estate market offers the perfect climate for selling a house, with buyers lined up to look at homes as soon as they hit the market.
“Inventory is limited, demand is strong, and interest rates are at historic lows,” explained Clark. “There’s no need to wait. In the current market, it’s reasonable to expect your house to sell quickly and for asking price, possibly above. Plus, if you price it right with the current market trend, you’re likely to receive multiple offers.”
Such was the case for Suzanne Moore and Wiley Kirk, who had not one, but two, houses to sell.
Suzanne and Wiley are coming off a whirlwind season that saw them meet, get married, and move to Highland Springs, the community in North Dallas developed and managed by Erickson Senior Living, all in the span of seven months.
Their story begins with Suzanne, who was researching retirement living options in Dallas, Fort Worth, McKinney, Austin, and San Antonio.
“I lost my husband four and a half years ago, and I was starting to think about the future,” said Suzanne, who worked as a regional manager for Business Wire then spent twelve years working for The Container Store. “I liked the lifestyle at Highland Springs and reserved an apartment in Edgewater Place [a new residence building scheduled to open this summer at Highland Springs].”
In May 2020, Suzanne’s financial planner called with a life-changing proposition.
“She told me she wasn’t calling about my portfolio,” said Suzanne, who was living in Corinth, Texas, near Denton. “She had another client who had lost his wife a year earlier, and she wanted to know if I was interested in a blind date.”
Suzanne agreed, and she met Wiley for the first time on May 10, 2020. By August, the couple was engaged with a November 1st wedding date.
“I was familiar with Highland Springs, but I had never been to the community,” said Wiley, a physicist and research professor at the University of Texas at Arlington who was living in Garland, Texas at the time.
The couple visited Highland Springs together and picked out a Walton-style apartment that was ready for immediate move-in.
“That precipitated our timeline,” said Wiley. “We went with all the recommendations provided through Erickson Realty and Moving Services.”
Erickson Realty and Moving Services is a program designed to support seniors through every step of the move to an Erickson Senior Living community.
Cindy Gay, personal moving consultant at Highland Springs, offers complimentary coordination of moving resources, including referrals to trusted real estate agents, estate sale planners, and moving companies. Those who use the services of a preferred real estate agent to sell their home are eligible for up to $2,000 reimbursement towards their moving expenses.
The couple listed both of their houses with Jane Clark, one of Highland Springs’ preferred realtors, who offered suggestions to simplify the process, particularly in light of the pandemic.
“Jane told us it was easier to show an empty home with minimal staging, so we had estate sales and moved out all of our things before our houses went on the market,” said Suzanne.
Suzanne’s house in Corinth garnered three offers in two weeks and sold for over asking price. Wiley’s Garland house was under contract with a cash offer in two days.
“I think we were both in that sweet spot in terms of size of our houses,” said Suzanne. “My house was 2,100 square feet, and Wiley’s was 2,200 square feet.”
Now the couple says they couldn’t be happier at Highland Springs, where they’ve already joined a Friday night social group and enjoy the maintenance-free lifestyle.
“This was a smart move,” said Wiley. “I’m glad we didn’t wait another five years. We both look at each other periodically and say, ‘We’re so happy we did this.’”
Like Suzanne and Wiley, seniors have a great opportunity to get the most for their homes and invest in a vibrant retirement lifestyle at an Erickson Senior Living community.
“Those who are moving to Highland Springs are able to acquire the gain in this market where other sellers are having to turn around and invest all their profits into buying their next house,” said Clark. “This is an amazing, unprecedented market, but we don’t have a crystal ball to know how long this bright light will shine down. If you’re thinking about selling, this is the time.”
To learn more about why now is the perfect time to move to Highland Springs, request a free brochure or schedule a visit to the community!