Dallas, TX housing market

Dallas home values just slid about 3 percent, and one in four sellers is now cutting their price. Here is what that combination means if you are weighing a sale this year. The typical Dallas home is now worth about two hundred ninety-seven thousand dollars, down roughly 3.1 percent from a year ago. And the cuts are spreading, with about 25.5 percent of active listings carrying a price reduction. Here is the catch though. Sellers are still aiming high. The median list price sits near four hundred thirty-eight thousand dollars, far above what the typical home is actually worth. That gap explains why homes are taking sixty-four days to sell, and why so many listings end up marked down after sitting. Meanwhile there are about four thousand two hundred homes for sale, with roughly one thousand two hundred more hitting the market each month, so buyers have options and they know it. If you are selling in Dallas right now, price to the market you have, not the one from a couple of years ago. A realistic list price sells, while an ambitious one sits for two months and then gets cut anyway. To see what your home is worth in this market, get a free estimate at Home Value Pros dot com.