Redfin's reports also showed that 32.5% of homes in Dallas, Texas sold above the list price. However, there are signs of recovery.Īccording to January 2023 reports, the monthly housing inventory in Dallas rose from 0.7 to 2.2, considering only single-family homes.Īdditionally, compared to 2022 figures, active listings are up by 175.60%, while new listings rose by 12.21% year over year. Housing Supplyĭata collected during the last three months of last year showed that the Dallas market experienced a significant drop in home inventory. Also, it's only 30 fewer properties than in March. However, the number of units listed and purchased in April is considerably higher than in January of this year when just over 500 homes were sold. In 2022, the number of housing units sold was 1,175. Redfin's reports also showed that the number of homes sold in April 2023 fell by 20.95% to 929 compared to last year's figures. However, it's important to know that the April median price in Dallas is higher than in March, which means that property values have risen after a prolonged negative period. The median sales price for condos/co-ops is $275,000 after falling 8.5% year over year.The median listing price for townhouses is $515.00 after increasing by 10.2% year over year.The median sales price for single-family homes is $472,500 after a 3.0% year-over-year decline.This is the average value for each type of property: Redfin issued a report on the changes the Dallas housing market experienced in April 2023, showing that home prices have fallen 4.8% year over year in this city.Īfter the drop in home prices, the median listing home price for all home types was $414,000. What does it mean? Is the Dallas housing market struggling? Here's more information on the city's real estate trends. The latest housing market trends fall into this category.Īnalyzing the changes or fluctuations in the real estate market can help you make a sound decision regarding your housing investment.Īccording to Redfin's latest reports, housing prices in Dallas fell in April this year after a drop of almost 5% compared to the figures reported in 2022.Īdditionally, homes now spend more time on the market before going under contract. Read on! Dallas Housing Market TrendsĪs mentioned, there are many things that you should take a look at if you want to buy a property in this city. However, before making a decision about your next real estate purchase, you should consider several aspects, including the latest Dallas housing market trends, experts' predictions, and more.įortunately, you can find all the information you're looking for here. The city is a wonderful place to live, whether you are a millennial looking for a new home or a seasoned real estate investor wanting to start a business there. These are just a few reasons why many people want to move to Dallas. It's also one of the country's fastest-growing cities with the highest employment growth. Plus, it has a diverse economy led by different industries, including transportation, telecommunications, financial services, information technology, defense, and more. In addition, the city is home to delectable southern cuisines for those who want to explore captivating cultures through delicious food, popular zoos and museums, and major Fortune 500 companies.ĭallas also offers a great quality of life and many job opportunities. You can find different attractions in each neighborhood and district that makes up Dallas, from spectacular museums and beautiful parks to impressive performing art venues.
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