DFW Real Estate Market Update: November 2023

Blog Post Image
Real Estate

DFW Metroplex Real Estate Market Update

November 2023 vs November 2022

Overview

As we analyze the DFW Metroplex real estate market for November 2023, we observe some distinct trends compared to the same month in 2022. This report will delve into the key metrics that shape the current real estate landscape.

Key Statistics for November 2023

  • Median Price Sold: Unchanged at $330,000
  • Active Listings: Increased by 15.7%
  • Closed Sales: Decreased by 2.8%
  • Days on Market: 54
  • Days to Close: 35
  • Total Days on Market: 89 days, 2 days longer than November 2022
  • Months of Inventory: 3.7

Market Analysis

The stability in the median sold price indicates a balanced market. However, the significant rise in active listings suggests that buyers now have more options. The modest decrease in closed sales could be indicative of a more cautious buyer sentiment. The extended days on market also point towards a market where buyers are taking their time to make decisions. Overall, these trends highlight the importance of accurate pricing and effective marketing strategies in the current real estate market.

For a more comprehensive analysis and personalized real estate advice, please contact our brokerage.