Good day, ladies and gentlemen! I’m Marie Walton, a trusted REALTOR® from Ebby Halliday, REALTORS, and I’m here to bring you an exciting market update for Dallas, Texas. So, whether you’re a buyer or a seller, this information is designed to keep you informed, engaged, and interested in the current state of our local real estate market.

Let’s dive right in! As of July 2023, we currently have a 2.73 Months Supply of Inventory in Dallas. Now, what does this mean for you? Well, it indicates the number of months it would take for all the homes on the market to sell, given the current pace of sales. This figure is crucial as it helps us understand the balance between supply and demand.

Over the past 12 months, the Months Supply of Inventory has seen a remarkable increase of 68.52%. This indicates a shift in the market dynamics and potentially more opportunities for buyers. However, sellers should remain vigilant and consult with a professional REALTOR® to strategize accordingly.

Now, let’s talk about the List to Sold Price percentage, which currently stands at an impressive 99.7%. What does this mean for you, whether you’re buying or selling? Well, it showcases the level of competitiveness in our market. As a seller, you can expect to receive a fair and competitive price for your property. And as a buyer, it’s crucial to work closely with a REALTOR® who can help you navigate negotiations and secure the best possible deal.

Next up, the Median Days on Market, which currently stands at just 25 days. This figure represents the average number of days it takes for a property to go from listing to being sold. Now, this highlights the strong demand we’re experiencing in Dallas and the need for buyers to act swiftly. For sellers, it’s a testament to the desirability of our market, but it’s still important to ensure your home is attractively priced and well-prepared to stand out among the competition.

Finally, let’s discuss the Median Sold Price, which currently sits at $327,000. This figure represents the middle point of all the home prices sold in the Dallas market. For buyers, it gives you an idea of the price range you can expect when searching for your dream home. And for sellers, it provides valuable insights into the pricing landscape and helps you position your property competitively.

So, there you have it, an insightful market update for Dallas, Texas. Whether you’re a buyer or a seller, it’s crucial to stay informed about the latest trends, statistics, and opportunities in our local market. And remember, when it comes to navigating the real estate journey, having a trusted REALTOR® by your side can make all the difference.

Thank you for dropping by today. If you have any questions or if you’re ready to embark on your real estate journey, don’t hesitate to reach out to me at Ebby Halliday, REALTORS. Until next time, take care and stay informed!