Dallas-Fort Worth Tops Texas With a Quarter of Statewide Home Sales

More than 27,000 North Texas homes sold in the most recent quarter.

Dallas-Fort Worth is maintaining its lead as Texas’ top home sales market, accounting for more than a quarter of statewide sales.

DFW also had the smallest year-over-year decline in second-quarter home sales among the state’s largest markets, according to a new report by Texas REALTORS®.

More than 27,000 North Texas homes changed hands from April through June – a decline of 4.7% in sales from year-earlier totals.

Median sales prices in DFW were 4.7% below where they were in 2022 at $404,999, according to Texas REALTORS®.

The Houston area was second with more than 25,000 home sales in three-month period, a decline of 15% from last year. Statewide, home sales were down almost 11% and median prices fell about 3% year-over-year.

“There’s a saying that all real estate is local, and the second quarter this year showed how true that is,” Texas REALTORS® chairman Marcus Phipps said in the report. “While the statewide median price eased down, median prices are actually up in about half of Texas markets.

“Despite that variation, the average number of days that homes spent on the market was up in every metro area, and the number of homes available increased in nearly every metro as well.”

Looking at Texas’ major metros, the Austin area home market has seen the biggest change from last year.

Median home sales prices in Austin are down almost 14% and the supply of houses listed for sale with real estate agents is up almost 40% year-over-year.

Texas real estate agents sold more than 96,500 homes in the second quarter. The inventory of homes on the market statewide grew by more than 32% from last year.

Homebuyers nationwide this year have been challenged by higher mortgage rates, which have also caused some potential sellers to pull back from the market.

Source: Dallas Morning News