The Dallas Fort Worth real estate market saw an increase in active listings from this time last year, however, that number has dropped nearly 1,500 from nearly a month ago. Months of inventory landed at 2 but saw a slight decrease from 2.2 in January. Overall, inventory appears to have tightened in February compared to January.
The median sale price in February was $384,169, a 1.6% increase from a year ago, and a 2.4% increase from January 2023. Closed sales finished at 6,740, a stark increase of 2,081 from a month prior. There has been an increase in buyers in February, but it seemed that sellers were not listing at the same pace.
As March progresses, we are starting to see more Spring listings entering the market. However, due to the current events surrounding the banking industry, we will be watching if that will have an impact (if any) on the buying momentum in the DFW market.