Good evening, everyone, and welcome back to our monthly market update. I’m Marie Walton, a dedicated REALTOR® with Ebby Halliday REALTORS here in beautiful Dallas, Texas. Today, I have some exciting news to share with all you buyers and sellers out there.

Let’s dive right into the numbers, shall we? As of November 2023, we currently have a 3.42 Months Supply of Inventory in the Dallas market. Now, what does this mean for you? Well, it indicates the number of months it would take to sell all the homes on the market if no new listings were added. This figure is crucial in understanding the dynamics of supply and demand.

But what’s even more interesting is the trend we’ve witnessed over the last 12 months. The Months Supply of Inventory has seen a significant increase of 28.57%. This indicates a shifting market, where buyers may have more options to choose from. Sellers, on the other hand, may need to be strategic in pricing and marketing their homes to stand out in this competitive landscape.

Now, let’s talk about the List to Sold Price percentage, which currently stands at an impressive 97.6%. This figure represents the percentage at which homes are selling compared to their list price. It’s a testament to the strong demand and competitive nature of the Dallas market. So, if you’re a seller, this is great news for you, as you can expect to receive a strong offer close to your asking price.

Next up, we have the Median Days on Market, which currently sits at 35 days. This figure represents the average number of days it takes for a home to sell once it’s listed. With a relatively short time frame like this, it’s clear that buyers in Dallas need to act swiftly and decisively in this fast-paced market. So, if you’re a buyer, make sure you’re pre-approved and ready to make a move when you find the perfect home.

And finally, the Median Sold Price in Dallas is currently $515,750. This figure represents the middle point of all the homes sold in the market, indicating the overall price trend. It’s important to note that this figure can vary depending on the neighborhood and property type. So, if you’re thinking about buying or selling, be sure to consult with a knowledgeable REALTOR® who can provide you with a more accurate assessment based on your specific needs.

As we wrap up today’s market update, I want to remind you that real estate is a constantly evolving industry. It’s crucial to stay informed and work with professionals who have their finger on the pulse of the market. At Ebby Halliday REALTORS, we pride ourselves on our deep knowledge of the Dallas market and our commitment to delivering exceptional service to our clients.

If you have any questions or would like to discuss your specific real estate needs, I invite you to reach out to me directly. I’m here to help you navigate this dynamic market and achieve your real estate goals.

Thank you for joining me today, and I look forward to connecting with you soon. Until then, take care and have a wonderful day!

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