Active listings grew by 6.7% in the Dallas-Fort Worth metroplex in September, according to the latest Housing Report from the MetroTex Association of REALTORS®.
Amid decreased home sales, active inventory swelled to 21,782 properties during the month. Consequently, inventory grew to a 2.9-month supply, up from 2.3 months a year ago. Average days on market also rose, with the typical property lasting on the market for 44 days plus an additional 33 days to close for a total time of 77 days. That’s up nine days year over year.
Closings were down 13.5% year over year, with 7,281 properties sold during the month.
Meanwhile, the median price dropped 1.2% year over year to $395,000.