Hello everyone, and welcome back to my blog! I’m Marie Walton, a REALTOR® with Ebby Halliday, REALTORS, and today I have an exciting market update for all you buyers and sellers out there. It’s September 2023, and we’re here in the vibrant city of Dallas, Texas. So, let’s jump right into it!

First, let’s talk about the inventory situation. Currently, we have a 3.24 Months Supply of Inventory. Now, 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 number helps us understand the balance between supply and demand in the market.

And here’s an interesting trend for you. Over the last 12 months, the Months Supply of Inventory has increased by 25.58%. This means we’ve seen more homes come onto the market compared to the number of homes being sold. It’s important to keep an eye on this trend as it may impact your buying or selling strategy.

Now, let’s talk about pricing. The List to Sold Price percentage is currently at 97.6%. This metric shows the percentage of the list price that homes are actually selling for. It’s a great indicator of how well homes are priced compared to their market value.

And here’s something that both buyers and sellers should pay attention to – the median days on market. Currently, homes in Dallas are spending an average of 31 days on the market before they’re sold. This can give you an idea of how quickly homes are moving in our area.

Finally, let’s talk about the all-important median sold price. In Dallas, the median sold price is currently $470,000. This represents the middle point of all the sold properties, meaning half of the homes sold above this price and half sold below. It’s important to keep in mind that this is just a general number, and prices can vary depending on factors such as location and property type.

So, there you have it, folks! That’s your market update for September 2023 here in Dallas, Texas. I hope you found this information helpful and insightful. If you have any questions or if you’re thinking about buying or selling in our beautiful city, don’t hesitate to reach out to me or my team at Ebby Halliday, REALTORS. We’re here to guide you every step of the way.

Thank you for dropping in, and remember to hit that subscribe button to stay up to date with all our future blogs. Until next time, take care and happy real estate adventures!