Dallas Real Estate Market is Thriving.

As of February 1, 2023, the Dallas real estate market is thriving. The city's strong job market, growing population, and favorable housing prices continue to make it a popular destination for both home buyers and investors.

The average home price in Dallas is $347,000, which is up 8% from last year. Despite the price increase, Dallas still remains one of the most affordable major cities in the United States. This, combined with the city's strong economy, makes it an attractive option for those looking to purchase a home.

There has been a shortage of available homes on the market, with inventory levels down 20% compared to last year. This has led to a competitive buying environment, with many homes receiving multiple offers and selling above asking price. Despite the shortage, demand remains high, with the number of home sales up 5% from last year.

The rental market in Dallas is also strong, with average rental prices up 4% from last year. The city's growing population and strong job market have contributed to the increased demand for rental properties.

Overall, the Dallas real estate market remains a great opportunity for those looking to purchase or invest in a property. With low interest rates and a strong economy, now is a good time to consider buying in Dallas. If you're thinking of making a move, be prepared for a competitive market and consider working with a local real estate agent to help you navigate the process.