Dallas Real Estate Market

Dallas Real Estate Market - 2023-02

Summary

The market trends of February 2023 are as follows(Check out the charts below for details).

Key Takeaways

1. The price of the overall market continued climbing up.

2. The price of resale houses went up, but new construction went down.

3. The sale of new construction went slow, i.e. the last site of some project is still on market for over 20 days.

4. The sale of resale houses moved faster. More and more multiple offers and offer due date scenarios. Some houses stayed on market only for 1 day.

5. Monthly supply continues going down. I believe it is hard to see sale price goes down in near term because of the low inventory.

6. The prices in Frisco，Allen，etc. were lower than January. This is different from the feeling of the market. But the market becomes hotter, particularly for good schoold districts.

Median price of Dallas area

Median Prices with Changes at a glance

County	Median Sale Price($)	Compared to last year(%)
Collin County	492,250	+2.3
Denton County	427,000	-4.2
Tarrant County	339,000	-0.9
Dallas County	351,800	+0.9

City	Median Sale Price($)	Compared to last year(%)
Frisco	600,000	-8.0
Prosper	719,916	-12.6
Allen	490,000	-1.6
McKinney	470,600	-6.8
Plano	507,250	+10.7
Wylie	467,000	+8.7
Melissa	525,000	+12.0
Anna	365,000	-3.2
Princeton	328,995	-3.2
Little Elm	416,750	-6.6
Aubrey	357,245	-18.3
Flower Mound	570,000	-4.8
Southlake	1,119,000	-5.6
Lucas	867,000	-8.7
University Park	1,884,675	-13.5