DFW Real Estate Market: A Look at Recent Trends
The Dallas-Fort Worth (DFW) real estate market has been buzzing with activity, showing some intriguing shifts in recent months. Based on the latest data, we’ll dive into key metrics like inventory, median prices, and market competitiveness to give you a snapshot of what’s happening across DFW neighborhoods.
Months of Inventory
The months of inventory measure how long it would take to sell all homes on the market at the current sales pace. A balanced market typically has 5-6 months of inventory, with fewer months favoring sellers and more favoring buyers.
December 2024 Highlights:
Cities with the lowest inventory included Euless (2.26 months), Keller (2.42 months), and Grapevine (2.76 months).
Even larger cities like Fort Worth (3.96 months) and Dallas (4.3 months) showed inventory levels leaning towards a seller's market.
November 2024 Trends:
Inventory was slightly higher in November, with Euless at 2.57 months and Fort Worth at 4.25 months.
This suggests an increasingly competitive market, with homes selling quickly, especially in cities with lower inventory levels.
Median Sold Price
Median sold prices provide insight into the value of homes in the market.
December 2024 Highlights:
Frisco ($672,500) and Keller ($617,350) topped the charts with the highest median sold prices, reflecting their premium markets.
Cities like Saginaw ($312,500) and Arlington ($335,000) offered more affordable options for buyers.
November 2024 Comparison:
Median prices generally rose from November to December. For example, Haltom City jumped from $282,000 to $335,000, indicating growing demand in that area.
List to Sold Price Percentage
This metric shows how close homes are selling to their listing prices—a key indicator of market competitiveness.
December 2024 Highlights:
Most cities saw homes selling at 97-99% of their listing prices, with Fort Worth (99.16%) leading the pack.
Addison (96.2%) had slightly lower percentages, signaling less aggressive competition in that market.
November 2024 Trends:
Overall, the percentages were similar, with most cities remaining firmly in the competitive range.
This indicates that sellers are getting close to their asking prices, a common trend in a strong seller's market.
Median Days in RPR
Median days in RPR reflect how quickly homes are selling.
December 2024 Highlights:
Cities like Haltom City (38 days) and Saginaw (35 days) saw homes move quickly, while Irving (63 days) and Fort Worth (57 days) experienced slightly longer wait times.
November 2024 Comparison:
In November, most cities saw shorter median days on the market, such as Haltom City at just 23 days, highlighting a seasonal slowdown heading into December.
Conclusion
The DFW real estate market remains dynamic, with low inventory and rising prices across many areas. Sellers benefit from quick sales and competitive offers, while buyers need to act swiftly to secure their dream homes.
If you’re considering buying or selling in DFW, staying informed and working with a professional can help you navigate this competitive market.
