According to Prudential Texas Properties, Dallas-area home foreclosures have fallen to new lows in recent months for both the Dallas-area and state. Median home values are on the upswing, and the average listing price for the month of July was roughly $359,400. This is a seller’s market—the number of active residential real estate listing was up 9% from the month of June, and homes spent an average of 38 days on the market, compared to 45 in July of 2013.
While sales were down 15% from the previous month, home sellers are still in control of this market—there were gains in home prices and inventory, plus the flourishing local economy, which brought homeowners to Dallas from other cities and states.
To see a 60-second update on the Dallas real estate market, where much of this information was found, click here.
