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
$195,000
$144/sqft
Based on all homes sold in April 2024.
Difference Since Last Month
Key Takeaway
Homes in Southwest Dallas have sold for 48% less than they did a month ago.
Summary: The median home sold price in Southwest Dallas was $195,000 in April 2024, down 48% from last month, and the median price per square foot was $144.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $375K | $195K | -48.0% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Southwest Dallas housing prices by bedroom type for April 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 decreased by 48%, 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
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 2,352 | 2,545 | +8.2% |
Summary: The Southwest Dallas real estate market had 2,545 homes for sale in April 2024, a 8.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 27 | 23 | -14.8% |
| 2 Bedrooms | 224 | 234 | +4.5% |
| 3 Bedrooms | 1,109 | 1,208 | +8.9% |
| 4 Bedrooms | 788 | 854 | +8.4% |
| 5+ Bedrooms | 204 | 226 | +10.8% |
Summary: The Southwest Dallas housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 14.8%, 2 bedroom homes increased by 4.5%, 3 bedroom homes increased by 8.9%, 4 bedroom homes increased by 8.4%, and 5+ bedroom homes increased by 10.8%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 526 | 555 | +5.5% |
Asking Price vs. Sold Price
1 Home Was 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. 50% of homes here sold below asking price last month.
Summary: A total of 555 homes were sold or pending in Southwest Dallas in April 2024, up by 5.5% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% 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 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 45 Days | 42 Days | -5.7% |
Summary: Homes in Southwest Dallas had an average of 42 days on market in Apr 2024, down by 5.7% compared to last month.
Breakdown of Home Sale Times
328 Homes Were Sold
Under 30 Days
126 Homes Were Sold
In 30 - 90 Days
101 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 April 2024, 555 homes were sold in Southwest Dallas; 59% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.
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