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.

Dallas's median sale price is 1% lower than the national average. Overall cost of living in Dallas is 2% higher than the national average. Learn which home features in Dallas add value to a home.

Dallas, TX housing market

The median listing home price in Dallas, TX was $475K in June 2024, trending down -4.8% year-over-year. The median listing home price per square foot was $267. The median home sold price was $387.1K.

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.

When it comes to days of the week, Thursday is the sweet spot for listing your home for sale. This is mainly because house-hunters tend to plan their in-person home tours for the weekend, when they're not at work, and pre-weekend listings are fresh in their minds.

Highland Park

With a median home price of $2,400,060 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.

Prices have relaxed in Texas and gone down slightly in many cities, but you should expect prices to go up some in 2024. Currently, the market has about 3.7 months of home inventory.

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.

Is Dallas a buyer or seller market? ›

Housing Market Analysis Dallas

The Dallas housing market in 2024 is undergoing a period of transition from a seller's market to a more balanced state. Here's a breakdown of key aspects: Buyer Demand – Buyer demand has cooled down compared to the peak in 2022 due to rising mortgage rates.

The Surge in Population and Its Impact on Housing

But as that demand runs into supply shortages, rising home prices have become the norm. Fast-growing cities like Austin, Houston, and Dallas-Fort Worth are at the forefront of this demographic shift, and for good reason.

Tax Implications and Affordability

However, Texas tends to have higher property taxes, which could affect the long-term affordability and profitability of investments. In Florida, the lower property tax rate can be more appealing for investors looking for more affordable entry points into the market.

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.

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.

Prices have relaxed in Texas and gone down slightly in many cities, but you should expect prices to go up some in 2024. Currently, the market has about 3.7 months of home inventory. That number needs to hit 6–6.5 months just for the market to be balanced.

Market Shift: As of May 2024, the Dallas market is transitioning from a seller's market to a buyer's market.

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.