DFW Metroplex Real Estate Market Update: January 2024

Dated: February 15 2024

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DFW Real Estate Market Update - January 2024

Overview

As we delve into the 2024 real estate market, it's crucial to understand the dynamics that are shaping the Dallas-Fort Worth Metroplex. Comparing this January's statistics to January 2023, we observe noteworthy trends that are pivotal for buyers, sellers, and investors alike.

Median Price Sold

In January 2024, the median price of sold homes in the DFW area saw a modest increase of 2.1%, bringing it to $382,941. This uptick reflects the market's resilience and the sustained demand in the region.

Active Listings

Active listings experienced a significant rise of 13.2% compared to last year. This increase indicates a more balanced market, providing buyers with a broader selection of homes.

Closed Sales

The number of closed sales in January 2024 dropped by 12.5%, signaling a shift in the market dynamics. This could be an opportunity for buyers to leverage their negotiating power.

Market Timing

The total time on market, including days on market (59 days) and days to close (33 days), amounted to 92 days. This is a slight decrease of 3 days from January 2023, indicating a slightly faster-moving market.

Inventory Levels

The months of inventory in the DFW area was recorded at 2.6 months. Although this reflects a competitive market, it also shows a slight increase in inventory, offering more options for buyers.

Conclusion

The DFW real estate market is evolving, marked by an increase in active listings and a moderate rise in median sales price. Despite a decrease in closed sales, the market's pace has slightly quickened. Buyers and sellers must stay informed and agile to navigate these changes successfully. For personalized advice and insights, contact our team of real estate professionals.

Contact us for more insights and assistance with your real estate needs in the DFW Metroplex.

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David Longshore

A graduate of the The University of Tulsa with a BBA in Finance and fifteen years experience in a corporate setting trading electricity and natural gas. David employs a tradition of excellence, trust,....

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