Dallas, TX Real Estate & Homes for Sale | realtor.com® (2024)

FAQs

Is it good time to sell house in Dallas? ›

Selling your house during the peak months of April through June can offer significant advantages. Historical data shows that homes listed during these months tend to sell faster and at higher prices.

According to the Dallas Housing Coalition, Dallas has become unaffordable for many residents. The median income is just over $58,000 and the average home price is just over $400,000. The organization represents more than 200 organizations working to fix the problem.

Dallas Housing Market Trends

In June 2024, Dallas home prices were down 4.2% compared to last year, selling for a median price of $431K. On average, homes in Dallas sell after 36 days on the market compared to 23 days last year. There were 854 homes sold in June this year, down from 1,115 last year.

The strong demand for rental properties, coupled with reasonable property prices, allows investors to secure a high rental yield. This can lead to a steady cash flow for real estate investors. Compared to other states with similar economic and population growth, Texas real estate remains relatively affordable.

Here's how each month of the year ranked for the best time to sell a house. The highest-earning months are, in ranking order, May, June, April and March. Just over 18 million purchase transactions took place during this period, according to ATTOM.

Sale-to-list price ratio: 109.84% Homes in Dallas, TX sold for 9.84% above asking price on average in June 2024. Dallas, TX is a buyer's market in June 2024, which means that the supply of homes is greater than the demand for homes.

As the cost of living in Dallas (and throughout Texas) is considered fairly high, people need a skilled, well-paying job in order to live beyond their means. To live comfortably in Dallas, a good salary is about $80,000 annually.

New analysis from Zillow finds that residents in the Dallas area need to make $121,398 to comfortably afford a mortgage. That is $14,862 more than the United States average ($106,536), according to the study.

Highland Park

With a median home price of $2,599,954 and a median rent of $2,364, Highland Park is the most expensive city on our list. Based on the growth in home prices in Highland Park over the last 3 years, it ranks No. 1 among all the cities in Dallas County.

The Lone Star State is one of the fastest-growing states in the nation, placing it right at the heart of commercial real estate (CRE) activities. The cities of Fort Worth, Austin, and San Antonio are on every investor's radar right now.

Why are new houses in Texas so cheap? ›

Business-Friendly Environment and Cheaper Labor

The affordability of housing in Texas is driven not just by the availability of land but also by a business-friendly environment and more affordable labor. This has had an obvious impact on building costs, which consequently helps make homes cheaper overall.

Texas' growing population and lack of income tax drive up property taxes as the need for more infrastructure grows. Property taxes fund local services such as public schools, infrastructure maintenance, and public safety initiatives. The budgets of these entities continue to grow due to inflation and population growth.

As of June 30, 2024, the forecast by Zillow for the Dallas housing market shows a slight dip with a predicted decrease of 0.4% in home values. This marginal decline suggests a cooling off period, potentially influenced by seasonal trends or slight adjustments in market dynamics.

Best Months to Sell a House

From May through September, Texas experiences a surge in real estate activity, making it an ideal period for sellers looking for a quick sale. The summer months, despite the heat, attract a large number of buyers, leading to shorter listing periods.

Dallas-Fort Worth is the most attractive market in the United States for investment, according to real estate company CBRE in its 2024 U.S. Investor Intentions Survey. Miami-South Florida, Raleigh-Durham, Atlanta, Nashville, Charlotte, New York City, Phoenix, Tampa, and Austin rounded out the rest of the top 10.

In good weather buyers are more prepared to go house hunting. As such, Spring is a pretty up-beat time of year and often considered to be the time when the most buyers are active in the market. The flip side is that it's also when you can expect to be up against the greatest number of competing sellers.