DFW Metroplex Real Estate Market Update: Dec 2023

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Real Estate

 

DFW Metroplex Real Estate Market Update

December 2023 vs December 2022

Overview

The DFW Metroplex real estate market in December 2023 has shown some interesting dynamics compared to the same period in the previous year. This analysis aims to provide insight into these changes and what they mean for the market participants.

Key Statistics for December 2023

  • Median Price Sold: Increased by 1.3% to $389,945
  • Active Listings: Increased by 8.3%
  • Closed Sales: Decreased by 5.9%
  • Days on Market: 55
  • Days to Close: 33
  • Total Days on Market: 88 days, 2 days less than December 2022
  • Months of Inventory: 2.6

Market Analysis

The increase in median sales price suggests a continuing demand for properties in the region. However, the rise in active listings alongside a drop in closed sales indicates a shift towards a more buyer-friendly market. The decrease in total days on market shows that properties are moving slightly faster than last year, signaling a still active market. These factors combined with a lower inventory suggest that pricing strategies and market timing will be crucial for success in this evolving market.

For detailed market insights and real estate services, contact our brokerage.