Hello, everyone! I’m Marie Walton, a REALTOR® with Ebby Halliday REALTORS, and I’m here today to give you an exciting market update for December 2023 in beautiful Dallas, Texas. Whether you’re a buyer or a seller, this information is crucial for making informed decisions in the real estate market. So, let’s dive right in!

First off, let’s talk about the supply of inventory. Currently, we have a 2.93 months supply of inventory in Dallas, Texas. Now, what does that mean? Well, it indicates how long it would take for all the homes on the market to be sold, assuming no new listings are added. This figure is important because it gives us an idea of whether the market favors buyers or sellers.

Over the past 12 months, we have seen a significant increase of 21.07% in the Months Supply of Inventory. This means that the market has become more balanced, offering buyers a wider range of options to choose from. It’s an exciting time for those looking to find their dream home.

Now, let’s shift our focus to the List to Sold Price percentage. Currently, the List to Sold Price percentage stands at an impressive 98.1%. This figure represents the average percentage of the listing price that sellers are able to achieve for their homes.

What does this mean for you as a seller? It shows that homes in Dallas are selling very close to their listing price, which is great news for maximizing your return on investment. Buyers should also take note that this figure indicates a competitive market where sellers are receiving offers close to their asking price.

Next, let’s discuss the median days on market. Currently, homes in Dallas are spending a median of 36 days on the market. This figure represents the average number of days it takes for a home to go from being listed to being sold.

With homes selling relatively quickly, it’s important for buyers to act swiftly and be prepared to make competitive offers. For sellers, this data highlights the importance of pricing your home correctly from the start to attract potential buyers and minimize your time on the market.

Last but certainly not least, let’s talk about the median sold price in Dallas. Currently, the median sold price stands at $408,000. This figure represents the midpoint of all home sale prices in the area.

Buyers should take note that the median sold price provides a benchmark for understanding the general price range of homes in Dallas. It’s essential to be aware of this figure when determining your budget and expectations. Sellers, on the other hand, can utilize this data to gauge the value of their home in comparison to recent sales.

And that wraps up our market update for December 2023 in Dallas, Texas. I hope you found this information informative and valuable. Whether you’re buying or selling, it’s crucial to stay informed about the ever-changing real estate market.

If you have any questions or would like to discuss your specific real estate needs, don’t hesitate to reach out to me. I’m Marie Walton, a REALTOR® with Ebby Halliday REALTORS, and I’m here to assist you every step of the way.

Thank you for dropping by, and I look forward to helping you achieve your real estate goals. Until next time!