Hello everyone, and welcome back to our blog! I’m Marie Walton, your trusted REALTOR® from Ebby Halliday, REALTORS, here in beautiful Dallas, Texas. Today, I have an exciting market update to share with all our buyers and sellers out there.

Let’s dive right into the numbers, shall we? Currently, in October 2023, we have a 3.49 Months Supply of Inventory. Now, what does that mean? Well, it indicates the number of months it would take to sell all the houses on the market if no new listings came in. This figure helps us understand the level of competition in the market.

And here’s the interesting part. Over the last 12 months, the Months Supply of Inventory has seen a significant increase of 29.26%. This uptick suggests that the market is becoming more favorable for buyers, giving them more options to choose from.

Now, let’s talk about the List to Sold Price percentage. This figure tells us how close the final selling price is to the initial listing price. In our current market, the List to Sold Price percentage is an impressive 99.5%. This means that sellers are achieving almost their entire asking price, indicating a strong demand and competitive market.

Moving on to the Median days on market, which is another crucial metric. In Dallas, Texas, the median days on market is just 26 days. This means that, on average, properties are selling relatively quickly. It’s essential for both buyers and sellers to be aware of this when making decisions in our dynamic marketplace.

Lastly, let’s talk about the Median Sold Price. In October 2023, the Median Sold Price stands at $475,000. This figure showcases the midpoint of all the sold properties in our area. It’s helpful for buyers to understand the price range they can expect, and for sellers to gauge the market value of their homes.

So, what do these numbers mean for you as a buyer or seller in Dallas, Texas? Well, with the increase in Months Supply of Inventory, buyers have more options and potentially more negotiating power in today’s market. However, the high List to Sold Price percentage and relatively low median days on market indicate robust demand, making it a great time for sellers to consider listing their properties.

Remember, real estate is constantly evolving, and it’s crucial to have an experienced professional on your side to navigate these changes and seize opportunities. As your trusted REALTOR®, I’m here to guide you every step of the way.

If you have any questions or would like to discuss how these market trends may affect your specific situation, please don’t hesitate to reach out to me. I’m here to help you make informed decisions and achieve your real estate goals.

Thank you so much for dropping in to today’s market update.

Until next time, take care and happy house hunting!