Per usual, we will analyze how the housing market has faired in Dallas thus far in February of '23.
As mentioned each month, results for the housing market are typically published a couple weeks into the following month. Let these numbers be a precursor for what is to come.
When looking at February 2023, 484 closings have brough a median closing amount of $460,000 or $232.40/sqft. This compares with January, where Dallas offically reported medians of $369,000 or $214.03/sqft.
While days on market decreased from 35 to 34 days month over month, the median accepted offer was 98.5% of the original listing amount. This compared to 98% in January 2023. This stats helps us see that purchasers/sellers actually got .5% closer in terms of expectations in February.
Most notably of these stats might be that closings have increased by 139 in February thus far. This is somewhat to be expected with the seasonality of the housing market as we inch towards Spring, however a good sign nonetheless!
Dallas seems to be positioned well for purchasers and sellers alike, heading into March!
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Talk soon. Eddie.
