DFW Metroplex Housing Report: June 2023

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Real Estate

DFW Metroplex Housing Report: June 2023

As your trusted real estate professionals at MTX Realty, we are committed to keeping you informed about the latest trends in our local housing market. Here's a snapshot of the Dallas-Fort Worth (DFW) Metroplex market for June 2023, as compared to June 2022.

Median Home Price

The median home price for June 2023 was $410,000, reflecting a 3.8% decrease from June 2022.

Active Listings

Active listings in the DFW Metroplex have shown a significant increase, up by 17.3% as compared to last year. This offers a wider selection for prospective home buyers in the market.

Closed Sales

Closed sales have decreased by 4.8% compared to June 2022. This represents a slight cooling off in the pace of sales.

Days on Market

Properties are now staying on the market for an average of 73 days, which is 18 days more than in June 2022.

Months of Inventory

As of June 2023, the DFW Metroplex has 2.5 months of inventory, up from 1.8 in June 2022. According to experts at the Real Estate Center at Texas A&M University, a balanced market is indicated by six to six-and-a-half months of inventory. Numbers lower than six months point towards a seller's market, while numbers higher than six-and-a-half months suggest a buyer's market. The current inventory indicates that we are still in a seller's market, but it's trending towards more balance.

Conclusion

Understanding these market trends can help both buyers and sellers make informed decisions. At MTX Realty, we are dedicated to providing you with timely information and expert guidance. Contact us today to discuss your real estate needs.