We’ve been getting a lot of questions lately about how the fall real estate market in Dallas-Fort Worth compares to where things stood earlier in the year. Specifically, many people want to know: How long are homes sitting on the market now versus the beginning of the summer? So, let’s take a closer look.

 

Days on Market: Summer vs. Fall

Looking at the data from May 2024 and comparing it to October, here’s what we’re seeing:

  • Dallas County: In May, the average number of days a home sat on the market was 38. Currently, it’s up to 48 days. That’s an increase of 10 days.
  • Collin County: Back in May, homes were averaging 36 days on the market. Now, that number has jumped to 50 days. A 14-day increase.
  • Tarrant County: In May, the average was 39 days, and today it’s sitting at 49 days—a 10-day rise.

The trend is clear across the board: Homes are staying on the market about 10 to 14 days longer this fall than they were at the beginning of summer.

 

But what does that mean for buyers and sellers? And is this increase a good or bad thing?

 

What Does an Increase in Days on Market Mean?

The short answer is this: The market has slowed down a bit, but it’s not in crisis.

 

An increase in days on market doesn’t mean home values are plummeting. In fact, in some areas, home prices are still at or near their all-time peaks. Prices may have slipped slightly from their highest points in other spots, but we’re not seeing a steep decline.

 

The increase in days on market simply means buyers are taking a little more time to make decisions, and homes are taking longer to sell than in the spring or early summer. This is typical for the second half of the year as the market slows after the busy summer selling season.

 

What Sellers Need to Know

If you’re selling your home, don’t panic if it doesn’t sell in the first week or two. We’re seeing a lot of sellers get frustrated after just a few days on the market, even though we’ve talked about how the current average is closer to 50 days.

 

Here’s the truth: 49 days on the market is not a bad thing. It’s normal for the market right now, and in the grand scheme of real estate history, it’s still a reasonable amount of time to sell a home.

In fact, here at the Todd Tramonte Home Selling Team, we still guarantee to sell your home over the average price and under the average time—but keep in mind, that “average time” is now about 49 days. So, if your home hasn’t sold in the first few weeks, don’t assume something’s wrong. It’s just the nature of the current market.

 

And remember, we’re still seeing homes go under contract quickly when they’re priced well and marketed properly. For example, we had two homes go under contract just last weekend that had been on the market for no more than 10 days, and both secured excellent prices, with one even going 10% over the asking price!

 

The takeaway? Patience is key, and understanding the current market conditions will help you manage your expectations and emotions.

 

What Buyers Need to Know

For buyers, this is a unique opportunity. With the market slowing down slightly and fewer people competing for homes, you have a little more breathing room. You’re not facing the intense bidding wars that were more common in previous years, which means you might be able to take more time to find the right home and negotiate better terms.

 

That said, don’t assume you can sit back and wait forever. Well-priced homes in great condition are still moving fast. If you find a home that checks all your boxes, acting quickly is still important. But overall, the pace of the market is less frantic, which could work in your favor.

 

Why the Fall Market Slows Down

A natural slowdown happens in the fall and winter months, and that’s not unique to 2024. People are less inclined to move around the holidays, and the hustle and bustle of back-to-school, Halloween, and Thanksgiving often take priority over house-hunting or putting a home on the market.

 

However, this seasonal slowdown can actually be advantageous for both buyers and sellers who are willing to navigate the fall market. As we’ve discussed before, sellers who stay on the market during the fall are often motivated—they really want or need to sell and are more open to negotiation.

 

On the flip side, buyers who are active in the fall face less competition and have the opportunity to score a great deal. This period might not see as many listings as the spring or summer, but if you’re ready to move, this is a great time to get ahead of the market.

 

The Bottom Line: It’s Still a Great Time to Buy or Sell

The real estate market in DFW this fall may be moving slightly slower, but that’s no reason to hit the pause button on your plans. Sellers need to be patient, but the market is still strong, and homes are selling at great prices. Buyers have the advantage of less competition, but they shouldn’t wait too long if they find the right home.

 

The days on market may have increased by 10-14 days since the summer, but this is still a healthy market—just one that requires a bit more patience and strategy.

 

If you’re thinking about buying or selling this fall, don’t wait until spring. Now is a great time to take advantage of the current market conditions. Reach out, and let’s strategize the best plan for your home journey.