What Does the DFW Housing Market Look Like?

Buying a home? Click here to perform a full home search Selling a home? Click here for a FREE Home Value Report Today, I’m covering a market update for the Dallas-Fort Worth area during the first quarter of 2016. Right now, the median sale price rests around $207,000. This is the exact middle. If you took all the properties, you’d look at the one priced exactly in the middle. That’s up by 9.8% from about a year ago. The price per square foot is also up by 8.6%. It’s $101 per square foot. How long does it take for a property to sell in our booming marketplace? On average, it takes around 20 days to sell in our MLS. From a year ago, that’s a 14.3% decrease. Remember that all of these statistics vary based on different circumstances, as well as specific neighborhoods. We’re giving you the overall health. If you’re a seller, and your home has been listed for over 20 days, there’s a good reason why it isn’t selling. It’s probably overpriced. It’s nearly impossible to underprice your home in today’s market. You have to pay attention to strategic pricing. Sales are up by 7.3% compared to 2015. Over the last year, 106,258 homes were sold. The key reason for all this activity is based on inventory. How many active listings are there compared to how many homes are selling per month? We only have 2.8 months of inventory currently! That’s down by 15.2%. That means it’s still a spectacular time to sell. If you have any questions about this topic or more, give me a call or send me an email. I’d be happy to help you!

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What Does the DFW Housing Market Look Like? is an episode from Dallas Area Housing Trends by Scott Neal.

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This episode was published on Apr 27, 2016.

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