November 2024 DFW Real Estate Market Update: Key Trends for Buyers and Sellers
As we approach the end of the year, the DFW real estate market continues to evolve across Collin, Denton, Tarrant, and Dallas counties. Buyers and sellers alike should stay informed on these changes to make strategic decisions. Let’s break down the key highlights from November's market data.
Mosaic Realty Group - November 2024 Market Update
Collin County: Market Eases for Buyers
In Collin County, the average list price reached $480,025, reflecting a slight 1.1% year-over-year increase. The median price per square foot fell to $207.57, down 1.7% YoY, providing a small boost to affordability for buyers. Inventory stands at 3.4 months, while homes are staying on the market for an average of 51 days—7 days longer than this time last year.
Key Insight: With prices stabilizing and homes lingering slightly longer, buyers in Collin County have more time and room for negotiation.
Denton County: Steady Growth but Slower Sales
Denton County's average list price climbed to $460,000, up 2.5% year-over-year, signaling continued market strength. The median price per square foot increased slightly to $206.81, up 0.3% YoY. Inventory remains at 3.4 months, but homes are taking longer to sell, averaging 59 days—14 days more compared to last year.
Key Insight: Sellers can benefit from the upward trend in prices but should plan for longer sales cycles as buyer activity moderates.
Tarrant County: Balanced with Modest Gains
Tarrant County saw the average list price rise to $355,832, a 3.1% year-over-year increase, while the median price per square foot edged up to $184.03, growing just 0.1% YoY. Inventory has expanded slightly to 3.5 months, and homes are now on the market for an average of 53 days—11 days longer than last year.
Key Insight: Tarrant County continues to offer a balanced environment, with steady price gains and moderate inventory levels that appeal to both buyers and sellers.
Dallas County: Rising Inventory Benefits Buyers
In Dallas County, the average list price dipped to $360,000, marking a 2.2% decline year-over-year, while the median price per square foot fell 1.4% YoY to $204.22. Inventory rose to 3.9 months, up 1.1 months YoY, and homes are now taking 49 days to sell—11 days longer than last year.
Key Insight: With rising inventory and easing prices, buyers in Dallas County have greater options and negotiating power heading into the new year.
Mosaic Realty Group - Data per county - November 2024
What Do These Trends Mean for You?
The DFW market is showing clear signs of moderation, with longer days on market and more inventory in many counties. Here’s what you should consider:
For Buyers: Slower sales and rising inventory in counties like Dallas and Collin give you more time and flexibility to explore options and make offers.
For Sellers: While price growth remains positive in Denton and Tarrant counties, it’s essential to set realistic expectations on days to sell. Pricing competitively and working with an experienced agent will help maximize your results.
At Mosaic Realty Group, we are committed to providing up-to-date insights and strategies tailored to your real estate goals. Whether you’re buying, selling, or just curious about your neighborhood’s trends, our team is here to guide you.
📊 Ready for a personalized market analysis?
Contact us today at team@homewithmosaic.com for expert advice tailored to your needs.
