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It's a seller's market: COVID-19 shifts housing market quickly in Dallas-Fort Worth

Less houses are on sale and the ones listed are selling fast. Realtors say it quickly became a seller's market during the pandemic.

SACHSE, Texas — "COVID-19 slammed us back into a strong seller's market," said Jeanie Marten. She's been a real estate broker since 1997, serving Dallas and surrounding areas since 1998.

At Jeanie Marten Real Estate, she's noticed fewer homes are on sale, but those available are selling fast. "People are fighting over houses again, multiple offers. The sellers are reaping the benefits right now."

According to the MetroTex Association of REALTORS data, active listings in Dallas County decreased 19.9% from June 2019 to June 2020. But the number of homes sold increased by 8.6%.

Credit: MetroTex Association of REALTORS

The percentage is even more drastic in Kaufman County. Active listings decreased by 22%, while homes sold increased by 47.7%. 

Credit: MetroTex Association of REALTORS

"If you're selling a home under $300,000 in this area, if the house is priced right, clean and shows well, it sells within the first few days it's on the market," said Marten.

Marten noticed that as more people are staying indoors due to the COVID-19 pandemic, families are searching for a comfortable home. She said houses with swimming pools are selling even faster. She has also had a lot of out-of-state clients. 

Marten believes low-interest rates are keeping buyers interested. But she says with homes for sale seeing multiple offers, a lot of buyers are also feeling discouraged. 

She said the current seller's market is what she saw during the recession, but this one went from changed from being a buyer's market to a seller's market in a matter of weeks.

 "It's whiplash," she described. "Things are selling. Things are selling very quickly."

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