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.
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
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
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
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.