Is Our Market Hotter Than It’s Ever Been?

The DFW real estate market is the hottest it’s ever been. All across the area, sales are up and inventory is down. Buying a home? Click here to perform a full home search Selling a home? Click here for a FREE Home Value Report What’s happening in the DFW area market right now? In short, everything still looks to be extremely positive . How long is it going to continue to be this good? We don’t know. We don’t own a crystal ball, and our market doesn’t move as fast as other markets. We have a three-to-six month lag before we really see how things are going to react in the market. Here are some key figures to know that paint a clear picture of where we’re at and how far we’ve come since this time last year: The median sales price has risen 9.7% to $220,000. The average days on market has dropped 19.2% to 42 days. Closed sales have risen 4.9%. That’s 107,686 residential home sales and roughly 215,000 transactions in total. The level of inventory has dropped 10% from 5.5 months to 2.7 months. The lower this number is, the hotter the market usually is. New listings are up 2.9%. In the entire MLS, there were 137,847 new listings. Since only about 108,000 properties sold, though, that means 22% of the properties that came on the market failed to sell. We’re in the hottest market the DFW area has ever seen. So, even though we’re in the hottest market the DFW area has ever seen, there’s no guarantee that your home will sell. You still need to prepare it right, market it correctly, and set the right price for it. If you want to geek out on some more numbers with us or you have any questions about buying or selling real estate in the DFW area, please get in touch with us in any way you can. We’d love to help you!

You can listen to Is Our Market Hotter Than It’s Ever Been? online on Radio and Podcast. Open the player on this page to stream the available audio.

Is Our Market Hotter Than It’s Ever Been? is an episode from Dallas Area Housing Trends by Scott Neal.

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This episode was published on Nov 10, 2016.

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