Welcome to your Dallas OR real estate trends for October 2024
Let’s break down the numbers and what they mean for you—whether you’re buying, selling, or just curious about the market.
What’s Up (or Down) in Dallas?
The median sales price for homes in Dallas is sitting at $436,250, down by 3.1% from last month. But don’t panic—it’s still 5.5% higher than last year. Buyers, this could be your chance to snag a deal before prices climb again.
How Long Are Homes Sitting?
The median days on market? 62 days, which is 31.9% longer than October 2023. Sellers, be prepared for a bit more patience while waiting for the right offer. But there’s good news—homes are still selling close to their list price, with sellers receiving 99.7% of their asking price on average.
Active inventory dropped by 24.3% year over year, and new listings saw a sharp 60.9% decrease. This is a classic case of supply and demand—fewer homes for sale keep prices from dipping too low. I don’t see this changing in the next year.
What’s the Bottom Line?
The Dallas real estate market is balancing on a tightrope. Inventory is still tight causing supply and demand imbalances that don’t seem to be ending anytime soon. While prices have slightly softened, they’re still showing long-term growth. Whether you’re planning to list your home or are hunting for your dream property, staying informed is key.
This data came from the WVMLS and from Altos.
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