Dallas Housing Market: Spring Demand Is Picking Up, but Buyers Still Have Leverage

Buyers still have leverage in Dallas. Homes sold for about 97% of list price this week, roughly in line with the same week last year, which shows sellers still are not getting broad pricing power and buyers can continue to negotiate.

The median home price over the past three months was about $397,000, down from about $411,000 a year ago, and price per square foot also fell about 4%. That points to buyers pushing back on pricing across the market, not just a shift in what kinds of homes sold.

Homes are taking longer to sell. Median days on market rose to about 78 days from about 66 days a year ago, giving buyers more time to compare options and putting more pressure on sellers to get the price right early.

Price cuts are more common. About 7% of listings had price drops this week versus about 6% a year ago, showing more sellers are starting high and then adjusting to find a buyer.

Supply is still giving buyers choices. Active inventory was about 22,791 homes, little changed from a year earlier, while weeks of supply rose to about 24 from about 23 because homes are being absorbed more slowly. That keeps the market tilted toward buyers.

The market has picked up from earlier this year, but the bigger story has not changed. Median days on market fell from about 86 days to about 61 over the past several weeks, so well-priced homes are moving faster even though the broader market is still slower than last year.

Buyers are not broadly chasing asking prices. The one-week sale-to-list ratio moved from about 97% to about 98% over the past several weeks, which looks more like normal spring firming than a shift to seller control.

Pending sales rose about 21% from earlier this year through this week. Demand is clearly more active than it was a few weeks ago, but it is still running slightly below the same week last year, so the rebound is only partial.

Price cuts kept rising. On the weekly series, the share of listings with price drops moved from about 7% to about 8% in recent weeks, a sign that seller adjustments are still spreading even as spring demand improves.

Be patient on homes that have been sitting. In Dallas, longer selling times and more price cuts mean many sellers do not have the leverage to hold firm, especially when a listing has already missed the market on price.

Move quickly on the best new listings. The recent drop in days on market shows that well-priced homes can still attract attention fast in spring, so the strongest listings may not give you much time.

Negotiate from what buyers are actually paying, not from the asking price. With the median home price lower than a year ago and most homes still selling below list, buyers often have room to press on price, repairs, or concessions when a home is not clearly standout.

Price for today’s Dallas market, not last year’s. Buyers are still selective, and more sellers are having to cut prices after launch, so an ambitious asking price is more likely to stall than to create bidding power.

Pay close attention to the first wave of response. Spring demand is real, and a well-priced home can still move quickly. But if showings are light or offers are weak early, that is usually a signal to adjust before the listing goes stale.

Do not count on seasonality alone to carry an overpriced listing. Buyers are paying up for the right homes, but the broader market still shows lower home prices, below-list closings, and rising price cuts. Sellers have selective leverage, not blanket control.

Dallas remains a buyer-friendlier spring market: activity is improving, but buyers are still pushing back enough to keep home-price pressure contained.

The most important signal in next week’s update is whether closed sales over the past three months can move above the same week last year. If more pending demand starts turning into completed sales, sellers could regain some pricing power. If not, buyers should keep expecting plenty of choice, negotiation room, and more price adjustments.