July’s DFW numbers look contradictory at first, but together they tell an important story.
29,742 Active listings -6.5% YoY | 28.3% Listings with price cuts | 54 Median days on market |
Active listings were down 6.5% year over year, and new listings were down 4.2%. That means buyers had fewer fresh choices than they did a year ago. At the same time, 28.3% of listings had a price reduction, compared with 20% nationally.
The median list price was approximately $439,000, essentially flat year over year, while homes took a median of 54 days to sell.
What this really means: DFW is not one simple buyer’s market or seller’s market. Supply is tighter than last year, but buyers are still price-sensitive. A well-priced home in the right neighborhood can move quickly, while an ambitious price can sit long enough to require a reduction. |
