The latest Dallas Real Estate Market Report is given below. The demand and sales have been climbing at a feverish pace in the Dallas housing market for more than two years now. The market started cooling off in the last quarter of 2019 and remains cold as of now. Dallas housing prices have risen by only 1.9% in the last twelve months. The DFW metro area has experienced smaller price gains as compared to Dallas. Home sales have slowed over the past couple of months and are likely to decline over the coming months as well, as the metro area continues to struggle with a sharp rise in coronavirus cases.
In May 2020, the number of homes sold within Dallas County was down almost 35% from a year earlier. The median sales price dropped by 3.9% to $250,000. There’s about a 3-month supply of homes for sale which is well below what’s considered to be a balanced real estate market. From this standpoint, the Dalla housing market still favors sellers over buyers.