Home sales remain steady in Texas

by Emily Marek

Single-family home sales remained steady in the first three months of the year, according to the Q1 edition of the 2024 Texas Quarterly Housing Report from Texas REALTORS®.

Statewide, home sales remained flat year over year, while the median price rose 1.6% to $330,950. Meanwhile, active listings rose 33.7%, providing more options for prospective buyers. Given the pace of sales, that amounted to a 3.8-month inventory supply.

In Dallas, closings increased by 0.4%, with the median price rising 1.4% to $390,000. Active listings increased by 34.8%, with 22,449 properties on the market during the first quarter. Months of inventory reached three months, up from 2.1 months a year prior, while average days on market dropped by six days to 89.

“Realtors are working with buyers and hearing from lots of others who are considering buying,” Jef Conn, chairman of Texas REALTORS®, said in a press release. “During the pandemic, buyers often were rushed, trying to compete with many other offers. Now, most buyers have a little more time to vet properties and make an offer. While interest rates have remained stubborn, there are good opportunities for buyers.”

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