In the latest RE/MAX National Housing Report for January 2024, Dallas-Fort Worth ranked second in the U.S. market with the biggest increase in year-over-year sales percentage. Home sales totaled 5,208 in January 2024, up from 4,560 homes sold in January 2023 resulting in a 14.2% increase. Coming in first place was Salt Lake City, Utah at 20.0%, and Las Vegas third with 12.4%
According to the report, the significant shifts in the real estate landscape hint at potential opportunities for buyers and sellers as the spring market approaches.
In January, the number of newly listed homes surged by 66.3% compared to December 2023 and 21.5% compared to January 2023 across the 50 surveyed metro areas, which could be a positive sign for buyers.
“It was encouraging to see the surge in new listings, as January stats can be a sign of things to come,” said Nick Bailey, president and CEO of RE/MAX, LLC.
“Our market is strong because of people moving into the Dallas area,” Mark Wolfe, president and owner of Re/Max DFW Associates, told WFAA “We have a significant amount of people moving in from other parts of Texas, California and all over the nation."
The report also concluded that the median sales price stood at $405,000, reflecting a 5.2% increase from January 2023, while the average close-to-list price ratio remained steady at 98%. Additionally, homes in the 50 metro areas surveyed area took an average of 45 days to sell, three days fewer than in January 2023.
According to RE/MAX, an uptick of newly listed properties hitting the market means prospective homebuyers should have more options to choose from in their house search.
For additional insights into the housing market and access to metro-specific data, interested parties can refer to the complete report available at the RE/MAX website.
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