Dallas Home Prices 2024: Current Market Trends

Median sales prices for single-family homes in Dallas County hit $425,000 in the second quarter of 2026, twelve percent above the $379,000 average recorded during the final months of the 2021 surge.

The comparison matters now because mortgage rates have remained above six percent since late 2023, cutting the pool of qualified buyers and forcing sellers to adjust expectations in a way that did not occur during the pandemic-fueled rush four years earlier.

Properties along McKinney Avenue in Oak Lawn continue to draw multiple offers within the first week, while homes listed near the Bishop Arts District on West Seventh Street have seen days on market stretch to twenty-eight on average, a reversal from the ten-day pace common in both areas during 2021.

Price Movements by Neighborhood

Data compiled by the Dallas-Fort Worth Association of Realtors show that Preston Hollow listings closed at a median $1.15 million this quarter, up from $925,000 in December 2021, while University Park values rose to $1.48 million from $1.22 million over the same span. Inventory citywide stands at 3.2 months of supply, nearly double the 1.7 months recorded at the height of the prior cycle.

Buyers who secured financing before the May 2026 rate hike can still compete effectively in Lake Highlands and Lower Greenville, where price reductions averaged 4.8 percent from original ask. Those entering the market after July 1 face tighter qualification standards at local lenders including Comerica Bank and Texas Capital Bank.

Next steps for current owners include checking comparable sales on the Dallas Central Appraisal District website before listing, and scheduling pre-listing inspections at least three weeks ahead to avoid last-minute concessions that became routine in the slower second half of 2025.