The Dallas-Fort Worth-Arlington metro area real estate market in May 2023 demonstrated positive trends:
- Median Price: Increased to $405,000, reflecting a 1.3% growth from the previous month.
- Closed Sales: There were 9,511 closed sales, indicating strong buyer activity.
- Active Listings: Increased to 17,481, an increase from April’s 16,432.
- Months Inventory: Slightly increased to 2.2 months, indicating a balanced market.
- Days on Market: Decreased to 45 days, showing increased demand and faster sales.
- Days to Close: Remained steady at 32 days, indicating an efficient process.
- Median Price/Sq Ft: Increased to $198.71, reflecting buyers’ willingness to pay more.
- Median Home Size and Year Built: Remained stable at 2,079 sq ft and shifted to 2004, respectively.
- Close/Original List Price: Improved to 97.4%, benefiting sellers.
Overall, the Dallas-Fort Worth-Arlington metro area market in May 2023 exhibited positive growth, strong buyer demand, and favorable conditions for sellers.
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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