Dallas, TX Real Estate & Homes for Sale | realtor.com® (2024)

FAQs

Are housing prices going down in Dallas? ›

Dallas Housing Market Trends

What is the housing market like in Dallas today? In June 2024, Dallas home prices were down 4.5% compared to last year, selling for a median price of $430K. On average, homes in Dallas sell after 36 days on the market compared to 23 days last year.

Typically, 4 to 6 months inventory is considered a balanced market, which is what we're seeing right now in many areas of North Texas, while Dallas and Collin County are still in seller's markets.

And while home prices are projected to fluctuate statewide depending on the region (for example, the DFW area saw sharp declines in new home pricing during 2023), the overall market remains strong. Instead of bottoming out, overall home prices are expected to rise slightly by the end of 2024.

DALLAS – Fitch Ratings says that home prices in Dallas-Fort Worth are between 15 and 19 percent overvalued. However, Real Estate Center Chief Economist Dr. Jim Gaines said such warnings are overstated. As long as the economy continues to grow, he doesn't believe North Texas' home values are out of whack.

Commissions you're paid as a real estate agent are taxed like any self-employment income. You'll owe 15.3% self-employment tax plus your income tax rate, which is based on your tax bracket determined by how much you earn.

Many experts deem DFW as the sixth-best market for overall real estate prospects and the second-best city in the Texas real estate market. Before COVID-19, the U.S. economy was experiencing the longest expansion on record, and DFW was at the top of the list.

So when it comes to how to deal with estate agents when buying, while you'll want to make sure you're polite and pleasant, treat it as a game of poker and play your cards close to your chest. Never let the estate agent know your bottom line (if you're selling) or your maximum budget (if you're buying).

What is a good real estate quote? ›

“Buying real estate is not only the best way, the quickest way, the safest way, but the only way to become wealthy.” - Marshall Field, entrepreneur. “The best investment on Earth is earth.” - Louis Glickman, real estate investor. “I have always liked real estate; farm land, pasture land, timber land, and city property.

Listing your home in April through June can maximize buyer interest. The end of the school year and the start of summer vacations mean more potential buyers are looking to move. Additionally, the warmer weather allows your home to look its best, with blooming gardens and sunny days enhancing curb appeal.

That's according to a March analysis by real estate giant CBRE Group Inc., which calculated that it cost 115% more to buy than rent in Dallas at the end of 2023. The premium could fall to about 77% in Dallas by the fourth quarter of 2028, close to the levels seen from 2012 to 2019.

From May through September, Texas experiences a surge in real estate activity, making it an ideal period for sellers looking for a quick sale. The summer months, despite the heat, attract a large number of buyers, leading to shorter listing periods.

According to the Dallas Housing Coalition, Dallas has become unaffordable for many residents. The median income is just over $58,000 and the average home price is just over $400,000. The organization represents more than 200 organizations working to fix the problem.

Rent prices in Dallas, TX have decreased 3% in the last month and have decreased by 8% in the last year.

Overall, the real estate firm predicts home prices will fall 1.7% next year, though larger drops are anticipated in 21 of the country's largest metro areas that Realtor.com analyzed in its forecast. Austin, Texas, could see the steepest decline, with a 12.2% drop expected.

The market sees a greater than 80% chance of at least five rate cuts from current levels by the end of 2024. Investor optimism about the economic outlook has improved dramatically from a year ago, but there's still a risk that Fed policy tightening could tip the economy into a recession in 2024.