The median DFW home sales price rose to $426,000 in June from $329,500 in June 2021 — a jump of 29.3%.
Dallas-Fort Worth leads the U.S. for the largest percentage increase in the median home sale price, soaring almost 30% over last year.
The median DFW home sales price rose to $426,000 in June from $329,500 in June 2021 — a jump of 29.3%. The next highest increase nationwide was in Tampa, Fla., up 27.9% to a median sales price of $385,000, according to the latest Re/Max National Housing Report, released today (Monday).
And, for the second straight month, the DFW housing market posted the largest increase nationally in the close-to-list price ratio.
The June 2022 close-to-list ratio in DFW clocked in at 103% compared to 98.2% in June 2021 — a 4.8% year-over-year percentage change.
The close-to-list ratio is the average value of the sales price divided by the list price for each transaction. When the number is above 100%, the home closed for more than the list price; if it's less than 100%, the home sold for less than the list price.
Mark Wolfe, broker/owner of Re/Max Town & Country, called the DFW market “absolutely unreal.”
“We have increased housing inventory, interest rates are up, and the market is slowing (with fewer showings per listing), yet the prices continue to increase with buyers still offering over list price,” he said. “We do see changes, but the 'I must pay over list' is still part of the buyer mindset right now."
Although the median sales price in DFW is sharply higher than a year ago, it’s down by $4,000, or 0.9%, from the $430,000 median in May.
The median listing price dropped a bit, too, from $445,000 in May to $443,691 in June.
The number of new listings put on the market in DFW rose 11.1%, from 12,748 homes in May to 14,162 in June.
The number of home sales rose 0.6%, from 9,605 in May to 9,666 in June. Home sales were down 11.8% on a year-over-year basis, from 10,960 in June 2021, according to the Re/Max report.