Dallas-Fort Worth MLS Market Report as of September 11, 2023

September 11, NTREIS Market Report by Amanda Allen Homes with RE/MAX Landmark

The DFW real estate market remains dynamic, showcasing a range of activities today. With new listings, pricing adjustments, and an array of property statuses, here's a snapshot of the market's performance as reported by NTREIS (North Texas Real Estate Information System) on September [Date], 2023.

New Listings (57): Today, the DFW area saw the addition of 57 new listings to the market, offering diverse opportunities for homebuyers and investors.

Back On Market (25): A total of 25 properties have re-entered the market, providing a fresh chance for interested buyers and sellers to connect. It's important to note that a property going BOM doesn't necessarily indicate a problem with the property itself; it's often a reflection of issues related to the transaction, financing, or buyer circumstances. Sellers and their agents can work to mitigate these risks by thoroughly vetting buyers and ensuring all parties are on the same page throughout the transaction process. Here are the top 5 reasons for BOM:

1. Financing Issues

2. Inspection and Appraisal Contingencies

3. Home Sale Contingency:

4. Title or Legal Issues:

5. Buyer's Remorse or Cold Feet

Price Decrease (115): The market has witnessed 115 price decreases, suggesting a willingness among sellers to align their properties with current market conditions and buyer expectations. It's essential for sellers to work closely with their real estate agents and monitor market conditions to make informed decisions about price reductions. Properly pricing a property from the start, based on a realistic understanding of its condition and the local market, can help minimize the need for significant price decreases. Here are the top 5 reasons for Price Decreases:

1. Market Conditions

2. Overpricing

3. Aging Listings

4. Competitive Pricing

5. Property Condition:

Price Increase (12): On the flip side, 12 properties have experienced price increases, potentially reflecting the growing demand for certain segments of the market. Here are the top 5 reasons for Price Increase:

1. High Demand

2. Renovations and Upgrades

3. Seller's Market

4. Desirable Location

5. Multiple Offers

Active KO (3): Three properties remain actively under contract with a "Kick-Out" clause, indicating ongoing negotiations and potential opportunities for backup offers.

Active Option Contract (65): A total of 65 properties are currently under active option contracts, demonstrating strong buyer interest in these homes.

Active Contingent (23): The market has 23 properties under active contingent status, indicating that these homes are under contract with certain contingencies yet to be fulfilled. The top 5 reasons for contingencies are:

1. Financing Contingency

2. Appraisal Contingency

3. Inspection Contingency

4. Home Sale Contingency

5. Title Contingency

Pending (136): A substantial 136 properties are pending, awaiting finalization of the sales process, showing a robust demand and transaction activity.

Closed (65): Today, 65 properties successfully closed, marking successful transactions in the DFW real estate market.

Expired (25): Unfortunately, 25 listings have expired, underscoring the importance of strategic pricing, marketing, and effective representation. Top 5 reasons for Expired Listings are:

1. Overpricing

2. Inadequate Marketing

3. Property Condition

4. Poor Timing

5. Ineffective Agent

Canceled (20): Twenty properties have been canceled, emphasizing the need for adaptability and flexibility in the ever-changing real estate landscape.

1. Seller's Change of Plans

2. Disagreements Over Price

3. Property Condition

4. Agent Performance

5. Relocation or Personal Reasons

Withdrawn (2): Two properties have been withdrawn from the market, signifying a temporary pause in their listing status.

1. Seller's Change of Plans

2. Property Condition or Repairs Needed

3. Market Conditions and Timing

4. Privacy or Security Concerns

5. Reevaluating Selling Strategy

Hold (27): Currently, 27 properties are on hold, indicating a pause in their active listing status, which could be temporary or strategic. The top 3 reasons for a property suddenly having a HOLD status are:

1. Temporary Withdrawal

2. Seasonal Factors

3. Renovations or Repairs

Coming Soon (8): The market anticipates the arrival of 8 properties in the "Coming Soon" category, offering a glimpse of future listing activity.

The DFW real estate market continues to showcase its vibrancy, providing opportunities for both buyers and sellers. With various property statuses and pricing dynamics, staying informed and working with a knowledgeable real estate professional remains essential for success in this dynamic market.

Note: This market report is based on data provided by NTREIS as of September 11, 2023, and represents a snapshot of the DFW real estate market for this specific date. Market conditions can change rapidly, and individual property transactions may vary.

Additional Resources from Amanda Allen Homes with RE/MAX Landmark:

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Real Estate Guidebooks for Sellers, Buyers, Farm & Ranch, New Construction, please go here: https://tinyurl.com/2p476h4w

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