Dallas ranked third for closed home sales in September among the 52 major U.S. metros surveyed by RE/MAX in its National Housing Report, which found that on average, sales fell 13.3% month over month and 3.1% year over year. 

The pace of Dallas sales rose 1.2% annually, from 7,065 to 7,148 transactions. The Metroplex lagged only New York and Chicago, which saw 9,381 and 7,719 properties change hands, respectively.

Meanwhile, the median sales price in Dallas slid 2% on both a monthly and yearly basis to $387,000. For all metros, the median-sales price was $429,000, down 1.4% from August but up 4.6% from September 2023. Hartford, Connecticut; Cleveland; and Providence, R.I., had the three greatest annual increases. 

The national close-to-list-price ratio was 99%, the same as it was in August and in September 2023. Miami; Bozeman, Montana; and Couer d’Alene, Idaho, had the lowest close-to-list-price ratios of the 52 markets surveyed. 

New listings in Dallas were down 10.7% month over month but up 18.8% year over year. Nationally, they were down 0.3% month over month and up 9.7% year over year. Bozeman, Phoenix and Las Vegas had the largest increases in new listings. 

Months’ supply of inventory was up 6.4% month over month and 33.6% year over year on a national level. Manchester, N.H; Seattle; and Trenton, N.J., had the lowest supply of inventory. 

Todd Luong, an agent with RE/MAX DFW Associates, said buyers are welcoming the current market conditions after the frantic pace of recent years.

“This shift in the market has reduced the urgency seen in prior years when buyers rushed to bid on very limited inventory levels. The increased supply has definitely allowed buyers to take more time before making their purchase decisions,” he said, noting the lower median price in the area. “With so many buyers waiting on the sidelines all these months for the anticipated rate drops, it wasn’t a surprise to see lower offer prices and longer wait times before purchasing.”