Why 2 Out of 3 Homes Are Just

Sitting on the Dallas Market

A for sale sign mounted on a pole against a clear blue sky, indicating property availability.

In Dallas, Texas, approximately 66% of homes are lingering on the market. Gia Marshello, a local real estate expert, examines this trend using local statistics and current examples.

Recent data from the MetroTex Association of Realtors shows the average days on market (DOM) for homes has increased by 38% compared to last year. This jump has left many sellers concerned about their properties’ market performance.

A key factor is the current mortgage rate environment. As of September 2024, the average 30-year fixed mortgage rate in Dallas is 6.8%, a full percentage point higher than last year. This increase has impacted affordability, especially with Dallas’s median home price now at $425,000.

For instance, a listing in the popular Lakewood neighborhood, priced at $550,000, has been on the market for 65 days despite its desirable location. This case highlights the challenges in the current market.

Gia Marshello emphasizes the importance of proper pricing and strategic marketing. “Understanding local trends and buyer preferences is crucial,” says Marshello. “With the right approach, sellers can still achieve their goals.”

For expert guidance in Dallas’s evolving real estate market, contact Gia Marshello today.