The Dallas Fort Worth Housing market saw a lot of positive growth in the month of January there were some negatives but that’s to be expected.
Median home sale prices for the month were $297,000 which is up 4.21% from January of 2018. This shows that the market as a whole is seeing increased property value which is great for those who already own a home in the area!
This month though we only had 4,682 sales for the month which isn’t bad but it’s still down by 14.76% from last year. This can be a sign that the economy is healthy and people aren’t leaving for opportunity elsewhere. However, it could also be a sign the economy is not doing well and people are not moving into larger homes we will need to see as the year continues.
The median number of days on the market has increased sharply to 54 days which is up 20% from last year. This can be a sign people are having difficulty selling their homes either due to increased value or a slowdown of people moving into the area. We will need to see how the coming months perform.
The number of new listings is down this month is down compared to last year by about 28% at 3,765 new listing. This can be because of a variety of factors but might tie into the increased values and increased number of days on market.
The median price per square foot is up 3.05% to $135 which ties into increased property value. Overall in some areas the market is performing quite well but the decreased sales of homes is something to look into for the coming months.
