I feel like I've said this the last couple of months, but the Dallas/Fort Worth metroplex real estate market has been on a bit of a rollercoaster this year. It's been a bit of a mixed bag depending on who you talk to and what area or county you live in. Despite the rollercoaster ride, home buyers have found incredible deals thanks to a supply/demand issue and high inventory levels. In addition, home buyers are benefiting from home builders, new construction incentives and lower mortgage rates.

This year alone, I've helped three home buyers move into homes built by three different home builders! I've been blown away by the level of customer service we've received, the supply and inventory that's available to my buyers and the monetary incentives the builders are offering to compete in the market. In the past 10 months, I've worked with D.R. Horton, Coventry Homes and Riverside Homebuilders to help buyers of mine find their next home. All three experiences were great, all three transactions were smooth and all three buyers got incentives to apply towards the purchase of their homes and/or lower interest rates or percentages to help make the home more affordable compared to the overall real estate market and landscape. I can't say enough good things about these three homebuilders, and would highly recommend anyone looking for a home to look into this route and chat with me about options and formulating a plan that works for you!

If we look at the overall real estate market, the metroplex seems to be balancing even more as we head into December and the end of the year. The median sales price for homes across the Dallas/Fort Worth metroplex, according to our local MLS data, is hovering around $360,000. Compared to a year ago, that price is slightly down around 3%. If you look at just Dallas County, the median sales price is approximately $367,000, which is almost even year over year. As always, that's a very broad look at the metroplex, so if you want a deeper dive into your specific community or neighborhood, I'm happy to have a more in depth conversation. The average "Days on Market" is still a bit high, but has leveled off a bit as we head into December. Currently, the average time a property sits on the market in Dallas is 55 days. With higher than normal home prices, that number can be skewed a bit. We have seen more price decreases than new listings hitting the market in the last week, so it's more important than ever to price your home accurately and strategically to sale more effectively.

At Compass, we are blessed to have Mike Simonsen, our Chief Economist, who publishes market information each month on a national level. If you are curious what the national landscape looks like for the United States, see below:

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 – $445,000 (-3.3%)

Collin – $440,000 (-9.3%)

Denton - $437,250 (-7.9%)

Rockwall – $420,250 (-2.2%)

Ellis – $417,895 (+2.9%)

Dallas – $367,000 (+0.5%)

Tarrant – $345,000 (0%)

Johnson – $340,000 (-2.8%)

Kaufman – $324,990 (+4.8%)

Hunt – $288,000 (+3.6%)