Is Dallas, TX a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Dallas has remained a Seller's Market.
Key Takeaway
Dallas is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Dallas, TX
How much do homes in Dallas, TX cost?
Median Sold Price
$400,000
$177/sqft
Based on all homes sold in May 2024.
Difference Since Last Month
Key Takeaway
Homes in Dallas have sold for 135.3% more than they did a month ago.
Summary: The median home sold price in Dallas was $400,000 in May 2024, up 135.3% from last month, and the median price per square foot was $177.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $90K | - | N/A |
| 3 Bedrooms | $250K | $400K | +60.0% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Dallas housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 60%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in Dallas, TX
How many homes are available in Dallas, TX?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 4,749 | 5,186 | +9.2% |
Summary: The Dallas real estate market had 5,186 homes for sale in May 2024, a 9.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 286 | 321 | +12.2% |
| 2 Bedrooms | 929 | 1,047 | +12.7% |
| 3 Bedrooms | 1,833 | 1,900 | +3.7% |
| 4 Bedrooms | 1,240 | 1,379 | +11.2% |
| 5+ Bedrooms | 461 | 539 | +16.9% |
Summary: The Dallas housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 12.2%, 2 bedroom homes increased by 12.7%, 3 bedroom homes increased by 3.7%, 4 bedroom homes increased by 11.2%, and 5+ bedroom homes increased by 16.9%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 1,031 | 1,035 | 0.4% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Dallas, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 1,035 homes were sold or pending in Dallas in May 2024, up by 0.4% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Dallas, TX
How long does it take to sell a home in Dallas, TX?
Average Sale Time
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 38 Days | 35 Days | -6.1% |
Summary: Homes in Dallas had an average of 35 days on market in May 2024, down by 6.1% compared to last month.
Breakdown of Home Sale Times
659 Homes Were Sold
Under 30 Days
273 Homes Were Sold
In 30 - 90 Days
103 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Dallas are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 1035 homes were sold in Dallas; 64% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
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