DFW Real Estate Market Update: October 2023

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Real Estate

 

DFW Metroplex Real Estate Market Update

October 2023 vs October 2022

Overview

The real estate market in the DFW Metroplex has experienced some notable changes in October 2023 compared to the same month last year. Let's take a closer look at the key statistics and what they mean for buyers, sellers, and real estate professionals.

Key Statistics for October 2023

  • Median Price Sold: Down 1.3% to $390,000
  • Active Listings: Rose 8.7%
  • Closed Sales: Down 6.1%
  • Days on Market: 44
  • Days to Close: 32
  • Total Days on Market: 76 days, 5 days longer than October 2022
  • Months of Inventory: 3.0

Analysis

The slight decrease in median price sold indicates a slight cooling in the market, providing some relief to buyers. The increase in active listings suggests a larger inventory, offering more options to prospective buyers. However, the decrease in closed sales and the extended total days on market highlight a more challenging environment for sellers. These changes underscore the importance of strategic pricing and marketing in the current market.

For more information and detailed analysis, contact our real estate brokerage.