As we enter fall, the Dallas-Fort Worth housing market is showing signs of stability despite rising mortgage rates. Here’s a quick look at what’s happening:
Mortgage Rates: Rising Above 6.5% 📈
Mortgage rates are ticking up again, now sitting above 6.5%. While higher rates can be a challenge for some buyers, there’s still plenty of activity in the market for those ready to move!
Median Home Prices: Gradual Decline 📉
Median home prices have dipped by an additional 1.3% as the market continues to level off. This may provide opportunities for buyers looking for deals, particularly in a more balanced market.
Active Listings on the Rise 🏠
The number of active listings has increased 41% compared to last year, giving buyers more choices as inventory expands. This rise in listings also means days on the market have stretched to about 53 days, providing more time to make thoughtful decisions.
Inventory and Closed Sales: Steady Growth 📊
Monthly inventory supply is up 4.1%, while closed sales have increased by 1.3%. This points to a more balanced market where both buyers and sellers are finding opportunities.
Hottest Price Ranges 💵
Homes priced between $300,000 and $399,000 remain the top sellers, with homes in the $500,000 to $750,000 range still holding strong in second place. This trend shows continued demand in mid- to high-tier price brackets.
What Does This Mean for Buyers & Sellers? 🤔
While some buyers are pausing their search until after the election, those who are active are finding more choices and negotiating power. Sellers should be mindful of pricing to stay competitive, as buyers have more inventory to choose from.
Let’s Navigate This Market Together! 🌟
The DFW housing market may be leveling off, but there are still plenty of opportunities for both buyers and sellers. Whether you’re looking to make a move before the end of the year or want to wait out the election season, I’m here to help you navigate these trends and make the best decisions for your real estate goals.
💬 Let’s chat! Whether you’re buying or selling, I’m here to guide you through the DFW real estate market with expert advice and support.
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bret@homeswithmerit.com 214-315-9465
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