Dallas-Fort Worth ranked second in the nation for homes sold and active home listings last month, trailing only New York as the spring selling season heats up.
Nearly 8,500 transactions were closed in April, up from 7,865 the previous year. There were more than 13,000 active listings, an almost 31% year-over-year jump, according to data from real estate company RE/MAX.
The report also found that active housing inventory is up 49.4% year-over-year. Home prices are up 1.5% annually. The median home price in D-FW was $405,000, matching numbers from the MetroTex Association of Realtors.
D-FW had 3.2 months of housing inventory in April, according to MetroTex data. That’s near pre-COVID levels. A six-month supply is considered balanced.
“Compared to a couple of years ago, we are definitely seeing a slightly more balanced market, as homebuyers now have a much greater supply of inventory to pick from, Todd Luong, an agent with RE/MAX DFW Associates, said in a statement. “But more importantly, buyers are facing far less competition than before and bidding wars are no longer the norm. Despite all that, the number of months of housing supply in most parts of Dallas-Fort Worth indicates that we are still in more of a seller’s market. The amount of inventory will need to increase significantly more before that changes.”