Hello, everyone! I’m Marie Walton, a REALTOR® with Ebby Halliday, REALTORS, and today I’m here to give you an exciting market update for August 2023 in Dallas, Texas. Whether you’re a buyer or seller, this update is sure to keep you engaged and interested in the current real estate trends. So, let’s dive in!

Currently, we have a 2.88 Months Supply of Inventory in Dallas. What does that mean? Well, it indicates the number of months it would take to sell all the homes on the market if no new properties were listed. This figure can give us insights into the balance between supply and demand in the housing market. And over the last 12 months, we’ve seen a positive increase of 19.01% in the Months Supply of Inventory. This suggests a growing market and increased opportunities for both buyers and sellers.

Another important factor to consider is the List to Sold Price percentage, which currently stands at an impressive 98.2%. This figure reveals the average percentage of the listing price that sellers are able to achieve when they sell their homes. With such a high percentage, it’s clear that sellers in Dallas are receiving offers close to their asking price, indicating a strong demand and competitive market.

Now, let’s talk about the median days on market, which is currently 27 days. This metric represents the average number of days it takes for a property to go from listing to being under contract. With a relatively low median days on market, it suggests that homes in Dallas are selling quickly, indicating a high level of buyer interest and a sense of urgency in the market.

Finally, let’s discuss the median sold price, which currently stands at $467,450. This figure represents the middle point of all the sold prices in Dallas. It’s crucial to understand the median sold price as it gives us a snapshot of the overall market value for homes in the area. With a median sold price like this, it’s evident that Dallas continues to be an attractive market for buyers and sellers alike.

And that wraps up our market update for August 2023 in Dallas, Texas. I hope you found this information valuable and insightful. If you’re considering buying or selling a home in the Dallas area, please don’t hesitate to reach out to me . I’m here to guide you every step of the way.

Thank you for dropping in and until next time, take care and happy house hunting!