The Dallas Texasnbsp;Real Estate Market Report fornbsp;June 2018 The newest data released by NTREIS (North Texas Real Estate Information Systems) for June 2018 indicates that the Dallas-Fort Worth real estate market might be slowing some.nbsp; The median sales price has increased since June of 2017, but the rising median sales price is the only factor which would still be in favor of the seller.nbsp; Our official NTREIS MLS report for June 2018 sums up the statistics as the following: Just like last year at this time, prospective home buyers should expect a competitive housing market for the next several months. With payrolls trending upward and unemployment trending downward month after month in an extensive string of positive economic news, demand remains quite strong. Given the fact that gradually rising mortgage rates often infuse urgency to get into a new home before it costs more later, buyers need to remain watchful of new listings and make their offers quickly. New Listings were up in the North Texas region 5.1 percent to 16,478. Pending Sales decreased 11.9 percent to 9,610. Inventory grew 6.2 percent to 30,215 units. Prices moved higher as Median Sales Price was up 5.9 percent to $270,000. Days on Market increased 2.7 percent to 38. Months Supply of Inventory was up 3.2 percent to 3.2 months., indicating that supply increased relative to demand. Although home sales may actually drop in year-over-year comparisons over the next few months, that has more to do with low inventory than a lack of buyer interest. As lower days on market and higher prices persist year after year, one might rationally expect a change in the outlook for residential real estate, yet the current situation has proven to be remarkably sustainable likely due to stronger fundamentals in home loan approvals than were in place a decade ago. The Dallas Housing Market Stats (June 2017 vs. June 2018) Key Metrics 06/17 06/18 +/- New Listings 15,671 16,478 +5.1 Pending Sales 10,912 9,610nbsp; -11.9nbsp; Closed Sales 11,915 11,034 -7.4 Days on Market 37nbsp; 38nbsp; +2.7nbsp; Median Sales Price $255,000 $270,000 +5.9 of Original List Price Received 97.9 97.3 -0.6 Inventory of Homes 28,453 30,215 +6.2 Months Supply of Homes 3.1 3.2 +3.2 2018 Dallas Real Estate Market Stats Year to Date (versus 2017) Key Metrics 2017 2018 +/- New Listings 80,447 83,860 +4.2 Pending Sales 60,589 60,068 -0.9 Closed Sales 55,562 55,654 +0.2 Days on Market 42nbsp; 44 +4.8 Median Sales Price $245,000 $257,500 +5.1 of Original List Price Received 97.5 97.1 -0.4 (Stats are courtesy ofnbsp;NORTH TEXAS REAL ESTATE INFORMATION SYSTEMS, INC.). Breaking Down the Market Statistics Numbers Lets take a look at what the numbers mean to buyers and sellers. New Listings The number of new listings has steadily risen over the past three years and in June 2018 sits at 16,478 new listings.nbsp; Thats +5.1 over June 2017.nbsp; The increase in new listings is an advantage to the buyer.nbsp; More listings mean more opportunity and lower prices. Pending Sales Like the new listings mentioned above, the pending sales are at their lowest in the month of June for the last three years.nbsp; In fact, from June 2017 to June 2018, the number of pending sales is a whopping -11.9 lower.nbsp; Thats a HUGE number, especially when you consider that new listings have increased by 5.1.nbsp; Another statistic which leans the way of the buyer. Closed Sales The closed sales statistic is a close cousin of the pending sales stat.nbsp; However, things sometimes happen between the pending status and the closed status (such as buyers failing to qualify for a loan, buyers changing their minds, pending sales statistics rolling over to the next month, etc.).nbsp; Therefore, the MLS stats differentiatenbsp;between Pending Sales and Closed Sales. The number of closed sales is the lowest for the month of June in three years.nbsp; Whats interesting is the fact that the number of closed sales jumped 7.7 from June 2016 to June 2017, but dropped almost the equal percentage (-7.4) from June 2017 to June 2018.nbsp; This means June 2018 is nearly the same number as June 2016. However, June 2016 had a much lower inventory of homes (but more on that later). Days on Market Until Sale The days on the market until sale remains virtually unchanged over the past three years of June.nbsp; I wouldnt read too much into a one day increase from 37 days until sale in June 2016 amp; June 2017 to 38 days for June 2018. About the only thing you know infer from this statistic is that the best, and correctly priced homes are still averaging contracts in a little over a month. Median Sales Price The Median Sales Price has steadily risen from June 2016 to June 2018.nbsp; In fact, yearly increases in the months of June have gone - +8.3 (2016). +8.5 (2017) and +5.9 (2018).nbsp; The median sales price in June 2018 is $270,000. While the cost of living in DFW continues to rise, the rates of inflation on the median pricing have significantly slowed since the 8+ growths seen in the months of June 2016 amp; 2017. Inventory of Homes for Sale Another factor to the advantage of the buyer, the number of homes listed on the market has risen over the past three months of June.nbsp; In 2016 the number of houses stood at 25,410.nbsp; In 2017 the market had an inventory of 28,453; and, in June 2018 we now have 30,215 (a 6.2 increase over June 2017). More inventory should mean lower (or at least steady) prices for buyers currently in the market. Months Supply of Homes for Sale As the inventory of homes for sale rises, it is only logical to assume the months supply of homes for sale will do the same.nbsp; The stats for June 2018 show this to be true. June 2016 was 2.8 months of supply; June 2017 was 3.1 months of supply; and, June 2018 is 3.2 months of supply.nbsp; More good news for buyers. nbsp; JUNE 2018 - COLLIN COUNTY REAL ESTATE MARKET STATISTICS Key Housing Statistic Changes for June 2017 vs. June 2018 in Collin County + 3.9 - 9.1 + 2.0 Change in New Listings Change in Closed Sales Change in Median Sales Price What You Need to Know for Collin County: Collin County is shifting more towards an even market.nbsp; Some of the most interesting Collin County market stats are in the Year-to-Date numbers with an over 9 increase in new listings but only a 2.6 increase in sold listings.nbsp; This means homes will sit on the market longer (39 days average for last year compared to 47 days average this year).nbsp; The most shocking stat about the Collin County housing market - the average sales price has risen 0 (actually fewer than $50 in a year).nbsp; Key Takeaway: Prices seem stalled in Collin County and the massive 33 increase in inventory from last year to this year is most likely the most significant factor. nbsp; JUNE 2018 - DALLAS COUNTY REAL ESTATE MARKET STATISTICS Key Housing Statistic Changes for June 2017 vs. June 2018 in Dallas County + 4.3 - 7.1 + 7.3 Change innbsp;New Listings Change innbsp;Closed Sales Change innbsp;Median Sales Price What you Need to Know for Dallas County: Looking at the year-to-date numbers in Dallas County, the overall number of listings is slightly up (3), and the number of sales is slightly down from 2017 (.3.3).nbsp; However, the number of days on the market hasnt much been affected as the numbers show 33 days on the market for 2017 versus 35 days on the market for 2018.nbsp; As such, the average sales price in Dallas County has risen 4.6 from 2017 ($341,878) to 2018 ($357,609).nbsp; Key Takeaway: A minimal increase in the supply of inventory from 17 to 18 (2.6 months versus 2.7 months) means the Dallas County real estate market is still going strong for sellers. nbsp; JUNE 2018 - DENTON COUNTY REAL ESTATE MARKET STATISTICS Key Housing Statistic Changes for June 2017 vs. June 2018 in Denton County + 3.0 - 8.0 + 6.5 Change innbsp;New Listings Change innbsp;Closed Sales Change innbsp;Median Sales Price What you Need to Know for Denton County: While some figures indicate a good, strong sellers market will continue, other numbers show Denton County moving to more of an even market.nbsp; The number of new listings is up from last year, but so are closed sales.nbsp; The average sales price is up 4.5, and the median sales price is up 6.8.nbsp; All these numbers look great (on paper) for sellers.nbsp; However, the months supply of inventory has increased from 2.7 months to 3 months and the number of days a home is averaging on the market is up a large number - almost 16. Key Takeaway: Im not convinced the numbers in favor of sellers are telling the real story.nbsp; I feel like the Denton County market might be cooling soon. nbsp; JUNE 2018 - ROCKWALL COUNTY REAL ESTATE MARKET STATISTICS Key Housing Statistic Changes for June 2017 vs. June 2018 in Rockwall County + 6.5 + 3.7 + 3.3 Change innbsp;New Listings Change innbsp;Closed Sales Change innbsp;Median Sales Price What you Need to Know for Rockwall County: Year-to-date, new listings are up 3.nbsp; But, the good news for sellers is that closed sales are up, as are both median and average sale prices.nbsp; While everything seems wonderful for sellers, the days on the market are up almost 9 from 2017 and the months supply of inventory is up 33 from 3.4 months to 3.7 months. Key Takeaway:nbsp;There are some small things which indicate the market might be headed for a little slower pace, but increases in the three most significant factors - change in new listings, change in closed sales and change in median sales price shows Rockwall County is still healthy for local sellers. nbsp; JUNE 2018 - TARRANT COUNTY REAL ESTATE MARKET STATISTICS Key Housing Statistic Changes for June 2017 vs. June 2018 in Tarrant County + 4.7 - 8.5 + 7.1 Change innbsp;New Listings Change innbsp;Closed Sales Change innbsp;Median Sales Price What you Need to Know for Tarrant County: Year-to-date, new listings are up 3.6 while closed sales are down 1.4.nbsp; Both average sales prices and median sales prices are up.nbsp; The median sales price increase of 6.5 means that the most affordable housing is quickly increasing in value.nbsp; Average days on the market are only up by one day from 2017 (32 versus 33) and the months supply of inventory is almost identical.nbsp;nbsp; Key Takeaway: One stat to watch is the comparison of June 2017 to June 2018 with a decrease in closed sales of 8.5 combined with an increase in new listings of 4.7.nbsp; This tends to favor the buyer, especially if this trend continues.