DFW’s red hot real estate market continues to push forward as we make our way through the early beginning of 2017. According to realtor.com's latest list of hottest housing markets, the Dallas-Fort Worth area ranked third overall when it came to receiving the most buyer traffic, and only one of two markets outside of California that even made the list at all. And in case you are curious, Colorado Springs was the other.
The Vallejo-Fairfield market in Southern California placed first on the website’s list of hottest housing markets in February, followed by the San Francisco Bay area before DFW’s third place ranking.
According to the release, homes in DFW sold in just 44 days on average this month, which was down from over 60 days in January. In addition, Jonathan Smoke, the chief economist for realtor.com, also noted that this year is also already shaping up to be more of a buyer’s market than what we saw in 2016.
Even despite DFW’s crazy market conditions and constant increase in home prices in recent months, it’s still worth noting that the median price of houses sold here is still only $232,000, which is well below the national median home sales price of $250,000.