A DFW Market Update

It’s the information we’ve all been waiting for!

Just me?

I can analyze data, but I cannot create spreadsheets. My friend/mentor/biz partner Kelley is a Spreadsheet Queen and shared her wizardry with me and now I will share these stats with my email list every month. Here is a peek at what they’ll look like if you’d like to subscribe!

These stats include Dallas, Denton, Collin and Tarrant County. I pulled these after the first week of February, so all data is can be recorded in MLS. Don’t forget I am always here for questions!

THE FACTS:

Number of Residential Sales

January 2022 - 2341

January 2023 - 3361

Listings are up 38%.

Days on Market

January 2022 - 25

January 2023 - 51

DOM is up 104%

Average Sales Price

January 2022 - 471,064

January 2023 - $505,682

Sales price have increased 7%

New Listings

January 2022 - 15,706

January 2023 - 15,658

And from experience:

In the past 2 weeks, any home that was priced and presented well has had multiple offers. I wrote three offers last week, with only 1 being accepted.

I just put a new construction home that has been on the market 190+ days under contract right in the knick of time, as another buyer was ready to write an offer.

The good news is that we do have more flexibility with buyers. The market changes over night, which is why you need someone staying up to date daily. I am not pricing listings until we are set to go on the market, because conditions can change in a blink.

Curious what your submarket is like? Let me know the details here and I’ll get it over to you!