DALLAS — Dallas-Fort Worth has less than a one-month supply of housing inventory on the market — down 75% from last year.
Home sale prices, meanwhile, are up 15.7% over last year in D-FW, according to RE/MAX residential real estate firm’s National Housing Report for March 2021.
The current median home sale price is $323,955, according to the report.
Michael Coburn, broker/owner of RE/MAX Town & Country in Allen, said the lack of home choices for buyers makes the DFW market “unhealthy.”
"One of the biggest things we see in this market, in addition to multiple offers on every property, is the amount of money buyers are willing to pay over list price to secure a home,” Coburn said. “We see houses that are worth $400,000, list for $420,000, and sell for $458,000 all cash, with the buyer paying all closing costs.”
Another home listed for $850,000 and sold for $1 million with a full appraisal waiver. Many buyers in this market are waiving appraisals and bringing tens of thousands of dollars to the table to close on homes that don’t appraise for the amount the buyers offer.
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