Dallas Housing Market: Winners and Losers in June 2023
Welcome to our latest blog post where we dive into the performance of the Dallas housing market for the month of June 2023. In this article, we'll discuss the top 10 biggest winners and losers in terms of median sales prices. We'll explore the cities that experienced declines and those that saw positive growth during this period.
Dallas Housing Market: Biggest Losers June 2023
10. Northlake, Texas:
The city of Northlake was down -6.6% to a median sales price of $509k
It is also down about -17% from the peak of 2022 of about $610k
It is also one of the cities that is down Year to Date as it is now down -3.7%.
Days on Market was 51, which doubled from the previous month.
The % of OriginalPrice was 96%. That was down from 97.8% the previous month
Months Supply was 3.7 months, which was up from Mays 3.4 months.
So Northlake did not end the Spring Selling season strong at all. We could see more declines in the coming months as we head into the Fall and Winter slower months, especially if interest rates stay elevated and credit conditions tighten.
9. Corinth, Texas:
Corinth Texas was down -6.9% to a median sales price of $386k
It is also down about -22% from the peak of 2022 at $560k
But unlike Northlake, Corinth has had a good Year to Date as it is still UP +12.7%.
the Days on Market was 15 days, which doubled from the previous month of 7 days.
And the % of Original Price was 100% which was unchanged from the previous month.
The Months Supply was 3.3 months, which was up from Mays 3.1 months as well.
8. Hurst, Texas:
Now Hurst Texas was also down -6.9% to a median sales price of $330k
It is also down about -18% from the peak of 2022 of $400k
Hurst is still UP +10% for the Year to Date.
The Days on Market was 6 days, which continues to drop from its high of 27 days back in March.
And the % of Original Price was 101.5%, so some of the homes are going slightly above ask, even with the decline they're having.
The Months Supply was 1.5 months, which was up from May's 0.9 months.
7. Southlake, Texas:
Southlake Texas was also down -8% to a median sales price of $1.3 Million
It is also down about -14% from the peak of 2022.
Southlake though is flat for the Year to Date.
The Days on Market was 12 days, which ticked up slightly from the previous month.
And the % of Original Price was 97.7%, which also dropped from May.
And The Months Supply was 3.4 months, which has steadily risen since January when it was 1.6 months.
6. Rockwall, Texas:
Rockwall Texas was also down -8.7% to a median sales price of $475k
It is also down about -14% from the peak of 2022.
Rockwall is also down Year to Date by -6.2% for 2023.
The Days on Market was 28 days, which is up from the previous month.
And the % of Original Price was 97.2%, which also dropped from May as well.
And The Months Supply was 3.4 months, which has steadily risen since January when it was 2.6 months.
5. Red Oak, Texas:
Red Oak Texas was also down -9.7% to a median sales price of $353k
It is also down about -16% from the peak of 2022.
Red Oak is also down Year to Date -6.5% for 2023.
The Days on Market was 33 days, which is up from the previous month.
And the % of OriginalPrice was 100%, which was up from May's 97.5%.
And The Months Supply was 2.5 months.
4. Wylie, Texas:
Wylie Texas was also down -10.8% to a median sales price of $439k
It is also down about -16% from the peak of 2022.
Wylie is also down Year to Date -7.3% for 2023.
The Days on Market was 16 days, which is up from the previous month.
And the % of Original Price was 98.2%.
The Months Supply in Wylie was 2.5 months, which was up from 2 months just the month before.
3. Grapevine, Texas:
Grapevine was down -11.7% to a median sales price of $530k
It is also down about -11% from the peak of 2022.
Grapevine is however up for the year by 6.6% for 2023.
The Days on Market was 7 days, so it is a very tight market here.
And the % of Original Price was 100%, and that actually was a drop from May's 100.9% of list.
The Months Supply was 1.6 months.
2. Sanger, Texas:
Sanger Texas was down -15% to a median sales price of $378k
It is also down about -28% from the peak of 2022.
Sanger is also down big for the year to date at -10.9% for 2023 so far.
The Days on Market was 14 days
the % of Original Price was at 100%.
and the Months Supply was 4.6 months and rising.
1. Sachse, Texas:
Sachse Texas was down -21.3% to a median sales price of $452k
It is also down about -14% from the peak of 2022.
but it still hung on to a slight gain for the year to date of 2.3% for 2023.
The Days on Market was 9 days
the % of OriginalPrice was 100%.
and the Months Supply was 1.3 months and rising.
Dallas Housing Market: Biggest Winners June 2023
10. Little Elm, Texas:
Little Elm Texas was UP +9.3% to a median sales price of $492k
It is also only down -2% from the peak of 2022.
and in 2023, year to date it is up 23%. So very good for the homeowners. Not so much for buyers.
Days on Market at 18 days
The % of OriginalPrice was 98.9% down which is close to the 99.1% of the previous month
The Months Supply was 2.4 months, which was up from Mays 1.7 months.
9. Keller, Texas:
Keller Texas was UP +9.4% to a median sales price of $711k
It is down -11% from the peak of 2022.
and in 2023, year to date it is up 45.1%. This is unbelievable, but is making the owners in Keller very happy. Lets see if Newtons theory catches up at some point.
the Days on Market was 12 days
The % of Original Price was 100%, which was the same as last month.
and the Months Supply was 2.2 months, which was up from Mays 2 months.
8. Saginaw, Texas:
Saginaw Texas was UP +9.5% to a median sales price of $323k
It is down -10% from the peak of 2022.
and Year to Date it is up a modest +5.9%
Days on Market was at 16 days
The % of Original Price was 100%, same as last month.
and the Months Supply was 2.1 months, which was up significantly from May's 1.5 months.
7. Dallas, Texas:
Dallas Texas was UP +10.7% to a median sales price of $505k
It is down -8% from the peak of 2022.
and Year to Date it is up HUGE at +37.6%
Days on Market was 13 days
The % of Original Price was 98.8%, down just a hair from last months 99.1%.
and the Months Supply was 2.5 months.
6. Cedar Hill, Texas:
Cedar Hill Texas was UP +11.1% to a median sales price of $361k
It is now down -18% from the peak of 2022.
Year to Date it is up big as well at +31.3%
Days on Market was 13 days
The % of Original Price was 96.6%.
and the Months Supply was 2.6 months.
5. Haslet, Texas:
Haslet Texas was UP +11.1% also, to a median sales price of $595k
It is down only -5% from the peak of 2022.
Year to Date it is up to +28%
the Days on Market was 30 days, which is down significantly from May's 56 Days
The % of Original Price was 96.2%.
and the Months Supply was 3.8 months.
4. Lewisville, Texas:
Lewisville Texas was UP +11.2% to a median sales price of $595k
It is actually one of the few cities that is above its 2022 highs by 7% from the peak of 2022.
Year to Date Lewisville is up +23.5%
Days on Market was 7 days so homes there are moving pretty fast.
The % of Original Price was 100%.
and the Months Supply was 1.8 months.
3. Carrollton, Texas:
Carrollton Texas was UP +12.2% to a median sales price of $485k
this is now very close to its 2022 peak only being down 2%.
Year to Date it is up +22.8%
Days on Market was 7 days
The % of Original Price was 100%.
and the Months Supply was 1.7 months.
2. Argyle, Texas:
Argyle Texas was UP +14.6% to a median sales price of $684k
this is still down about -12% from the 2022 peaks.
Year to Date it is up +10.6%
the Days on Market was 19 days
The % of Original Price was 96.3%.
and the Months Supply was 4.5 months, which is the highest we have seen from most of the cities on either of our lists.
1. Allen, Texas:
Allen Texas was UP +17.3% to a median sales price of $625k
this is still down about -6% from the 2022 peaks.
Year to Date it is up to +20.1%
Days on Market was 9 days
The % of OriginalPrice was 100%.
and the Months Supply was 1.6 months