Even though homes are no longer flying off the market like they were just a couple of years ago, the Dallas real estate market is still holding strong. Unlike the market we saw in 2008, lenders have been smarter and more sanctioned about their lending policies. So, even though the market may have seemed to cool a bit, don’t worry, we’re not in a recession.
In this month’s Dallas real estate market report, we saw an increase in the number of new listings that came on the market, and while we did see a decrease in the number of sales and an increase in the days on market, the average days on market were still below 60 days.
What does this tell us?
With mortgage rates still below 4 percent, now is a great time buy. This is especially true if you bought your first home within the past five years and you’re ready to move up. The average home price in Dallas has increased by 38.71% from $301,408 to $418,094 since 2014.
Below you will find more information on the real estate market in Dallas for September. If you should like a more customized report for your neighborhood, please feel free to reach out.