Berkshire Hathaway HomeServices PenFed Realty Texas' Real Estate Market Report
Dallas, TX
Single-Family Homes
www.WeKnowTX.com
Dallas, TX
Tue May 07 2024
This week the median list price for Dallas, TX is $545,000 with the market action index hovering around 42. This is less than last month's market action index of 43. Inventory has increased to 2,045.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
The market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone and prices have been moving upward as evidence.
Real-Time Market Profile
| Median List Price | $545,000 | |
| Median Price of New Listings | $525,000 | |
| Per Square Foot | $271 | |
| Average Days on Market | 76 | |
| Median Days on Market | 42 | |
| Price Decreased | 43% | |
| Price Increased | 3% | |
| Relisted | 9% | |
| Inventory | 2,045 | |
| Median Rent | ||
| Market Action | 42 | |
| Slight Seller's Advantage | ||
The market continues its bounce again this week. We’re a long way from the market’s high point so watch the Market Action Index as a leading indicator for how long this trend will last.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $1,995,000 | 4,454 | 0.25 - 0.5 acre | 4 | 4.5 | 18 | 71 | 41 | 35 |
| $749,900 | 2,550 | 8,000 - 10,000 sqft | 3 | 3 | 46 | 83 | 78 | 35 |
| $400,000 | 1,829 | 6,500 - 8,000 sqft | 3 | 2 | 60 | 81 | 69 | 35 |
| $265,000 | 1,325 | 6,500 - 8,000 sqft | 3 | 2 | 64 | 86 | 98 | 49 |