Is Southwest Dallas, TX a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, 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
$331,725
$139/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Southwest Dallas was $331,725 in March 2024, down 1.1% from last year, and the median price per square foot was $139.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $80K | N/A |
2 Bedrooms | $175K | $95K | -45.7% |
3 Bedrooms | $323.5K | $275K | -15.0% |
4 Bedrooms | $336K | $333.5K | -0.8% |
5+ Bedrooms | $505.5K | $357.4K | -29.3% |
Summary: Southwest Dallas housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 45.7%, 3 bedroom homes decreased by 15%, 4 bedroom homes decreased by 0.8%, and 5+ bedroom homes decreased by 29.3%.
Median Sold Price Compared To Nearby Cities
Southwest Dallas | $335.5K | $331.7K | -1.1% |
Northeast Dallas | $325K | $320K | -1.5% |
Housing Supply in Southwest Dallas, TX
How many homes are available in Southwest Dallas, TX?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
2,163 | 2,412 | +11.5% |
Summary: The Southwest Dallas real estate market had 2,412 homes for sale in March 2024, a 11.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 26 | 27 | +3.8% |
2 Bedrooms | 197 | 231 | +17.3% |
3 Bedrooms | 1,042 | 1,146 | +10.0% |
4 Bedrooms | 704 | 795 | +12.9% |
5+ Bedrooms | 194 | 213 | +9.8% |
Summary: The Southwest Dallas housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 3.8%, 2 bedroom homes increased by 17.3%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 12.9%, and 5+ bedroom homes increased by 9.8%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
446 | 485 | +8.7% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 485 homes were sold or pending in Southwest Dallas in March 2024, up by 8.7% 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 Southwest Dallas, TX
How long does it take to sell a home in Southwest Dallas, TX?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
40 Days | 44 Days | +8.2% |
Summary: Homes in Southwest Dallas had an average of 44 days on market in Mar 2024, up by 8.2% compared to last year.
Breakdown of Home Sale Times
287 Homes Were Sold
Under 30 Days
107 Homes Were Sold
In 30 - 90 Days
91 Homes Were Sold
Over 90 Days
Summary: During March 2024, 485 homes were sold in Southwest Dallas; 59% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.