Dallas-Fort Worth-Arlington Real Estate Market Report – June 2023
- Median Price: The median price increased to $410,000, reflecting a strong growth in home prices.
- Closed Sales: There were 9,415 closed sales, indicating robust buyer activity and in line with May closed sales.
- Active Listings: The number of active listings increased from 17,481 in May to 19,605.
- Months Inventory: The months inventory increased to 2.5 months.
- Days on Market: The average number of days on the market decreased to 41, showing strong demand and faster sales.
- Days to Close: The average number of days to close a sale remained steady at 32, indicating an efficient real estate process.
- Median Price/Sq Ft: The median price per square foot increased to $198.90, suggesting buyers’ willingness to pay more for properties.
- Median Home Size and Year Built: The median home size remained at 2,113 square feet, with a median year built of 2005.
- Close/Original List Price: The close/original list price ratio improved to 97.70%, benefiting sellers.
Overall, the Dallas-Fort Worth-Arlington real estate market in June 2023 exhibited positive growth, with a notable increase in median price and a high number of closed sales. The reduced days on market and consistent days to close suggest strong buyer interest. The market favors sellers, with a higher close/original list price ratio. The Dallas-Fort Worth-Arlington region continues to be a thriving market.
If you are thinking about buying or selling, it is important to work with a qualified realtor who can help you navigate the current market conditions. Schedule a consultation here.
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The Texas Real Estate Research Center is a valuable resource for real estate professionals, investors, and anyone interested in learning more about the Texas real estate market.
https://www.recenter.tamu.edu/
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