Welcome everyone, and thanks for joining us for our Dallas housing market update! We’ll be diving into the latest data for the Dallas housing market for the first quarter of 2022.
Sales prices in the Dallas-Fort Worth area have increased since the beginning of 2022 and are expected to continue to rise throughout the year. The median sales price for a home in the area is $368,500, which is up from $315,000 last year. Homes are selling quickly, with median days on the market of only seven days.
The average price per square foot in the Dallas-Fort Worth area is $198, which is up from $149 last year.
The number of new listings in the Dallas housing market has increased sharply in the past month. In February, there were 9,509 new listings. In March, that number increased to 13,370. The number of new listings has been increasing steadily since December which is good news for buyers who have been struggling to find homes in the tight housing market.
As sellers continue to enter the market, we expect the Dallas housing market to become more balanced. However, with homes selling quickly, the market still favors sellers. Buyers who are looking to purchase a home in the Dallas-Fort Worth area should be prepared to act quickly when they find a home they like.
Thank you for joining us and be sure to check back next quarter for another update!