If you just read and watched the news, you would think that the real estate market would be slowing down and homebuyers would be tepid and a bit more cautious. Gas prices seem to be rising each week, there is economic uncertainty in almost every market, we have an ongoing conflict with Iran that makes headlines almost every day and mortgage interest rates are continuing to rise. With all of that being said, the Dallas/Fort Worth real estate market is currently experiencing a flurry of activity, a ton of qualified home buyers hitting the market, homes sitting on the market for sale for only a few days and multiple offer scenarios that are reminiscent of 2021.

In the past month, I've personally represented sellers on two different listings and both were on the "market" for only 4 days! My latest listing in Forney received a flurry of activity, received multiple offers, and some of the offers were above the asking/list price. I also have represented multiple home buyers that have experienced the frenetic activity in the market from other buyers. I've seen homes hit the market and go under contract in a day, so that is showing me that there are a ton of qualified home buyers out there and a lot of interest in homes "priced to sell". This real time manifestation of buyer frenzy hasn't shown up in the trend statistics yet on MLS or any that are available to real estate agents, but you are starting to see it in some places. The average days a home sits on the market is still high, but it's starting to go down across the metroplex, and the median sales prices for homes is starting to rise across the board. As you can see near the bottom of my blog, the median sales prices by county are starting to shift a bit as well. Even if the sales prices and closed prices are decreasing, that can be a good indicator of increased activity across the market as well.

I believe that depending on the circumstance and the neighborhood, it's both a good time for home buyers and sellers. The market seems to have balanced over the last few months, and I know there are opportunities for both home sellers to sell their homes quickly and for the most amount of equity as possible and for home buyers to find a property that could be purchased for less that than the offer price with the right offer and structure. There are deals to be had and opportunities everywhere you look, so having the right real estate team is more important than ever before. I believe that it's also important for home buyers to have access to off-market properties and possibilities as well, due to fast turnaround times and the frenetic market activity. I'd love to have a conversation about Compass' Private Exclusive portfolio of properties and our Three-Phased Marketing plan that helps sellers find the right buyer!

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:

Parker – $461,250 (+3.6%)

Rockwall – $448,000 (+8.6%)

Collin – $430,000 (-9.7%)

Denton - $425,125 (-4.5%)

Ellis – $423,000 (+4.4%)

Dallas – $358,000 (-3.2%)

Tarrant – $345,000 (-.5%)

Johnson – $320,000 (-7.2%)

Kaufman – $300,000 (-6.8%)

Hunt – $285,000 (-1.4%)