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Dallas Home Sales Steady in October

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Tips by Top Dallas Real Estate Agent, Broker Associate, CRS, GRI, REALTOR

Dallas Home Sales Steady in October

Dallas home sales slowed down in the month of October according to MLS statistics. Monthly sales were lower than sales for any September 2017 as expected.

Dallas home sales in October. (Chart: Dallas MLS)

We expect the Dallas home sales to slow down in the late summer and early fall. That is typical.

Comparing October 2017 to the previous year, Dallas MLS home sales of single-family homes only declined by 1.2%. Sales decreased by 2.4% including condominiums and attached homes. October home sales declined by 5% also from the previous month of September, 2017.

Dallas home sales for last 3 years. (Chart: Dallas MLS)

This is not a great news for buyers who have been competing with multiple offers for desirable homes most of this year. Dallas market has been holding steady and is still a seller’s market.

Dallas Home Sales Increase

In addition, there are more homes on the market now than there were in the hot Spring selling season. There are 5114 active listings in the Dallas MLS data. While this is a welcome increase for buyers, the inventory of available homes to purchase is still 2% lower than at this time last year.

Also, home sellers are welcoming the news that the average sales price actually increased slightly in the month of October. The average sales price and the entire Dallas Metro market was $327,866 according to the MLS statistics. That’s less than 5% higher than the previous month.

Months of Inventory

Months of inventory is also called the “absorption rate”. It shows how long it takes to sell the average home.

Dallas home sales inventory. (Chart: Dallas MLS)

How many months would it take for the Dallas home sales to absorb sell all of the existing inventory at current sales levels? That is called the absorption rate. And, it decreased again in October suggesting that Buyers have to be more aggressive and Seller’s control of the market is increasing.

Less than 3 months of inventory is still technically a Sellers’ Market. The big question is whether or not this is a brief increase in the market or symptomatic of a more major jump. Only time will tell. In the meantime, this is welcome news for would be home sellers in our busy Dallas real estate market. Buyers, on the other hand are being more aggressive in their offer pricing. And, real estate brokers are being more aggressive in their offer techniques.

What kinds of homes are for sale right now around North Texas?

You can search all homes for sale on my website here.

If you’re considering trading up to a top-tier home, give me a call at (469)269-6541. I can give you my estimates on what’s possible in the current market.

Tip: Discover new construction homes or master planned communities in Frisco TX, McKinney TX, Prosper TX, Coppell TX or Irving TX which offer homes to suit every lifestyle and budget.

About us:

Whether you are an individual simply relocating to Dallas, or moving your entire family due to transferring with your company, we can help. Our relocation professionals ease the transition whether you are moving across town or across the globe. We will work with you to find an area that best suits your professional, family and lifestyle needs. If you are interested in moving to our great city of Dallas and need help finding a home, I would appreciate the opportunity to help you. I have lived in Dallas metro area for over 14 years. Since many of my clients are relocation buyers, I have all the tools you need to help your home search. Whether it is video previews of homes, extended work hours, digital signatures for documents or more, I can make this process as comfortable as possible no matter where you are located.

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