The real estate market in Dallas County is showing signs of stability, with balanced conditions that benefit both buyers and sellers. However, key metrics indicate a potential shift in favor of buyers in the coming months. Let’s break down the latest market trends.
Table of Contents
1. Inventory Levels on the Rise
The month’s Supply of Inventory stands at 4.02, indicating a market that offers choices for buyers while maintaining competitiveness for sellers. A balanced market typically falls between 4-6 months of inventory, and Dallas County is sitting at the lower end of that range.
However, a 12-month Change of +43.06% in inventory levels suggests a shift toward a more buyer-friendly market. With more homes available, buyers may have increased negotiating power, while sellers might need to be more strategic in pricing and marketing.
2. Homes Are Still Selling at a Healthy Pace
Despite the increase in inventory, Median Days on Market sits at 53 days, meaning homes are still selling relatively quickly. This signals that demand remains strong, especially for well-priced properties in desirable locations.
3. Sellers Are Getting Close to Asking Price
One of the most promising signs for sellers is that properties are selling at 97.9% of the list price. This means that while buyers may have more options, they are still willing to pay near the asking price for homes they find valuable.
4. Median Sold Price Remains Competitive
The Median Sold Price of $350,000 reflects a stable market with competitive pricing. While inventory is increasing, pricing has not yet seen a major shift, maintaining a fair playing field for both buyers and sellers.
What This Means for Buyers and Sellers
- For Buyers: More inventory means better selection and potential negotiation opportunities. If trends continue, the market may become even more favorable in the coming months.
- For Sellers: Pricing competitively remains key, as buyers have more options. Homes that are priced well and marketed effectively are still selling within a reasonable timeframe.
Final Thoughts
Dallas County’s real estate market is in a transition phase. While it remains competitive, the increase in inventory could create opportunities for buyers. Sellers should stay informed and work with experienced agents to navigate these shifting conditions.
Would you like more insights into specific neighborhoods or home types? Let me know!
