Just when you think the DFW real estate market couldn’t get any hotter, the sizzling month of August has once again broken records. According to national real estate portal realtor.com, homes are only staying on the market in Dallas-Fort Worth-Arlington for 41 days, which is good enough to rank the DFW area near of the top of the website’s latest “Hotness Index,” which tracks the country’s most active markets.
In fact, only Vallejo-Fairfield, California ranked ahead of DFW in terms of how quickly homes were selling over this past month, which is a market that saw homes last only 37 days on the market before eventually selling.
Overall, the summer of 2016 has been one of the most competitive buying seasons the real estate market as a whole has ever seen, which is traditionally one of the slowest seasons of the year for buying and selling real estate.
Waco was the only other city in Texas that made the list of “America’s 20 Hottest Real Estate Markets in August,” which was just one of two cities that were new to the list this month.
It was also noted that the median home price during this month was listed right at $250,000, or about 8% higher than this time a year ago. But as mentioned earlier this week, that’s still well above median home prices currently seen all throughout the DFW area.