Each year, the spring real estate market in the Dallas/Fort Worth metroplex typically comes with more home inventory for buyers to choose from and an increase in new listings and an increase in closed sales. The warmer weather brings out more and more buyers, and this year looks to be no exception. In fact, I anticipate that this spring will outpace previous years due to one simple factor: lower mortgage interest rates. As of today, mortgage interest rates are steadily dropping, with the standard 30-Year Fixed Rate Mortgage rate sitting around 6.01% (according to Freddie Mac). These interest rates haven't seen the "5's" since September of 2022, so if we see the interest rate dip below 6%, we could see a flurry of buyer activity in the market over the next few weeks and months. 

In addition to that great news, the median sales price across the DFW metroplex is also dropping, currently sitting around $350,000 (down 2.5% year over year). That sales price is somewhat misleading though, due to the metroplex having so many varieties of housing inventory, types of neighborhoods and construction ages of homes. For example, Ellis County is booming, with the median sales price jumping to almost $425,000 and showing an increase of almost 9% year over year. Meanwhile, Collin County has been showing signs of slowing down a bit, with home sale prices decreasing since July of last year to around $435,000. Scroll to the bottom of this blog to see how each of the 10 major counties in the DFW metroplex are trending when it comes to home sales prices.

Additionally, more and more people continue to move to the Dallas/Fort Worth metroplex, adding more and more buyers to the mix and increased demand and activity. Texas leads all U.S. states for inbound migration, followed by Florida. Top destinations include Austin, Dallas, Houston, San Antoniio, Ocala and Kissimmee, and this is driven by affordability, job growth and no state income tax. Dallas' strong economy and relatively low cost of living are also contributing to this surge in new residents. Dallas attracts people from all walks of life, especially those folks who are looking for economic stability and quality of life.

As always, please reach out to me if you have any questions regarding the real estate market. There are nuances at every turn, so make sure you have a great real estate team guiding you through the process, whether that be buying, selling, renting or investing.

Median Sales Prices by County:

Collin – $435,000 (-5.4%)

Denton - $425,000 (-5.1%)

Ellis – $424,995 (+8.4%)

Parker – $422,500 (-1.1%)

Rockwall – $412,000 (+3.3%)

Dallas – $348,000 (+1.3%)

Tarrant – $341,950 (0%)

Johnson – $337,500 (-3.6%)

Hunt – $304,000 (+5%)

Kaufman – $299,990 (-6.0%)