In recent months, there’s certainly been a lot of chatter about the current boom the DFW real estate market is experiencing. On several occasions, we’ve even talked about the dwindling inventory and how prices for both homes and apartments in the Dallas-Fort Worth area continue to rise, especially as more jobs and more people are making their way to North Texas.
But even with a robust job market and the fact that DFW home prices have spiked by nearly 8% halfway through the year, homes for sale in Dallas-Fort Worth are still more affordable than in many other parts of the country.
According to recently released numbers from the National Association of Realtors' Metropolitan Home Price Report, the national median price for a home was currently listed as $240,700. Here in Dallas, the median price at the end of the second quarter—around the same timeframe the report was released—was $232,200.
So while it’s true home prices all throughout the North Texas region are at an all-time high, and that home prices have drastically increased by over 40% just in the last 5 years, just know that as of now, median home prices in our market are still just below the nationwide median price, even if it’s just by the slimmest of margins.