February Real Estate Market Update

What's Happening in Dallas County?!

Monthly reports are in for the SOMO MLS real estate market. The total number of residential listings in Dallas County closed during the month of February totaled 9. With a residential sold median sales price of $220,000. The absorption rate shows how long the current inventory of properties would last at the current rate of sales.If no new properties were added to the market, and sales continued at a steady pace, the absorption rate indicates it would take 2.40 months to sell all the properties on the market.The sold sales volume for the month was $2.10 million. That figure is determined by the total sale price value of all the residential properties whose sales contracts were completed, or closed, during the month. In addition to residential sales, there were 2 lots sold in Dallas County during the month of February with a median price of $77,500 and a sold volume of $155,000. Land sales were down compared to February last year. .

Disclaimer: Information is deemed to be reliable, but is not guaranteed. © 2023 MLS and FBS. 03/08/2023