Is Southwest 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, Southwest Dallas has remained a Seller's Market.
Key Takeaway
Southwest Dallas is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Southwest Dallas, TX
How much do homes in Southwest Dallas, TX cost?
Median Sold Price
$412,000
$199/sqft
Based on all homes sold in May 2024.
Difference Since Last Month
Key Takeaway
Homes in Southwest Dallas have sold for 64.8% more than they did a month ago.
Summary: The median home sold price in Southwest Dallas was $412,000 in May 2024, up 64.8% from last month, and the median price per square foot was $199.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $250K | $341K | +36.4% |
| 4 Bedrooms | - | $481K | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Southwest 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 36.4%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in Southwest Dallas, TX
How many homes are available in Southwest Dallas, TX?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 2,467 | 2,627 | +6.5% |
Summary: The Southwest Dallas real estate market had 2,627 homes for sale in May 2024, a 6.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 23 | 29 | +26.1% |
| 2 Bedrooms | 228 | 255 | +11.8% |
| 3 Bedrooms | 1,156 | 1,231 | +6.5% |
| 4 Bedrooms | 843 | 877 | +4.0% |
| 5+ Bedrooms | 217 | 235 | +8.3% |
Summary: The Southwest Dallas housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 26.1%, 2 bedroom homes increased by 11.8%, 3 bedroom homes increased by 6.5%, 4 bedroom homes increased by 4%, and 5+ bedroom homes increased by 8.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 605 | 526 | -13.1% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Southwest Dallas, you may be able to get a good deal. 80% of homes here sold below asking price last month.
Summary: A total of 526 homes were sold or pending in Southwest Dallas in May 2024, down by 13.1% month-over-month. Of the 5 sold homes, 80% were sold under asking, 0% were sold at asking, and 20% were sold over asking.
Days on Market for Southwest Dallas, TX
How long does it take to sell a home in Southwest Dallas, TX?
Average Sale Time
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 43 Days | 36 Days | -16.6% |
Summary: Homes in Southwest Dallas had an average of 36 days on market in May 2024, down by 16.6% compared to last month.
Breakdown of Home Sale Times
328 Homes Were Sold
Under 30 Days
137 Homes Were Sold
In 30 - 90 Days
61 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Southwest Dallas are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 526 homes were sold in Southwest Dallas; 62% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.
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Based on information from the Austin Board of REALTORS® (alternatively, from ACTRIS or Unlock MLS®). All information provided is deemed reliable but is not guaranteed and should be independently verified. The Austin Board of REALTORS®, ACTRIS, Unlock MLS and their affiliates provide the MLS and all content therein “AS IS” and without any warranty, express or implied. The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data maintained by the Board, ACTRIS or Unlock MLS may not reflect all real estate activity in the market. Prices displayed on all Sold listings are the Last Known Listing Price and may not be the actual selling price. 
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