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Quick Facts

Normal spring increases in sales activity, coupled with relaxing COVID-19 policies, created a very busy March real estate market as buyer demand continued largely unabated in the face of rising home prices and mortgage rates. Existing home seller and new construction activity continue to remain below levels necessary to bring the market back into balance, pointing to a busy and competitive buyer market in the coming months.

New Listings were down in the North Texas region 3.6 percent to 12,922. Pending Sales increased 22.1 percent to 11,418. Inventory shrank 59.9 percent to 11,519 units.

Prices moved higher as Median Sales Price was up 12.2 percent to $303,000. Days on Market decreased 32.7 percent to 37. Months Supply of Inventory was down 65.5 percent to 1.0 months., indicating that demand increased relative to supply.

While many homebuilders are working to increase their activity, the cost of lumber and other materials and a backlogged supply chain continue to limit new home construction and have increased costs substantially. New methods of construction, including 3d printed homes, could speed construction and reduce costs in the future, but realistically are several years away from making a measurable impact in the market.

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*All data is provided by North Texas Real Estate Information Systems, Inc. and is current as of May 6th, 2021

+ 8.7%

Change in
Closed Sales


+ 12.2%

Change in
Median Sales Price


– 59.9%

Change in
Inventory

MAY 2021 LOCAL MARKET UPDATE

Download the latest DFW Local Market Update for Collin, Dallas, Denton, Hill, Johnson, Parker, and Tarrant counties here.