Is Dallas, TX a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Dallas is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, 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

$212,000

$127/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$69,250(-24.6%)

Key Takeaway

Homes in Dallas have sold for 24.6% less than they did a year ago.

Summary: The median home sold price in Dallas was $212,000 in February 2024, down 24.6% from last year, and the median price per square foot was $127.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $237.5K$112.5K
-52.6%
2 $325K$117.5K
-63.8%
3 $282.5K$372K
+31.7%
4 $235K$239K
+1.7%
5+ $913.7K$1.3M
+46.1%

Summary: Dallas housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 52.6%, 2 bedroom homes decreased by 63.8%, 3 bedroom homes increased by 31.7%, 4 bedroom homes increased by 1.7%, and 5+ bedroom homes increased by 46.1%.

Median Sold Price Compared To Nearby Cities

Northeast Dallas
-2.8%
Dallas
-24.6%

Housing Supply in Dallas, TX

How many homes are available in Dallas, TX?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
3,4664,015+15.8%

Summary: The Dallas real estate market had 4,015 homes for sale in February 2024, a 15.8% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 221257
+16.3%
2 662790
+19.3%
3 1,4071,594
+13.3%
4 848982
+15.8%
5+ 328392
+19.5%

Summary: The Dallas housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 16.3%, 2 bedroom homes increased by 19.3%, 3 bedroom homes increased by 13.3%, 4 bedroom homes increased by 15.8%, and 5+ bedroom homes increased by 19.5%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
667708+6.1%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Dallas, you could pay more than the asking price. 100% of homes here sold above asking price last month.

Summary: A total of 708 homes were sold or pending in Dallas in February 2024, up by 6.1% month-over-month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% 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

Feb 2023Feb 2024CHANGE
44 Days43 Days-1.8%

Summary: Homes in Dallas had an average of 43 days on market in Feb 2024, down by 1.8% compared to last year.

Breakdown of Home Sale Times

384 Homes Were Sold
Under 30 Days

215 Homes Were Sold
In 30 - 90 Days

109 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Dallas are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 708 homes were sold in Dallas; 54% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 18 Days Ago

Newest Listings in Dallas, TX

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