As of the close of 2023, Caruth Meadows in Dallas, TX, stands as a testament to robust real estate growth. The median sales price soared to an impressive $835,000, marking a noteworthy 22% increase from 2022 and an astonishing 183% surge since the aftermath of the 2008 Great Recession. Despite a slight slowdown in the days on market, shifting from an average of 24 to 35 days, the neighborhood remains in a seller's market, given that periods below 90 days are considered favorable to sellers.
In 2023, only 11 homes sold, indicating the persistent challenge of low inventory in Caruth Meadows and the broader Dallas-Fort Worth area. Looking forward to 2024, the seller's market trend is anticipated to persist. The declining interest rates, standing at 6.61% for a 30-year fixed mortgage as of December 31, 2023, are poised to bring delight to home sellers, allowing them to capitalize on increased equity. While buyers continue their home searches, the market may not witness the frenetic multiple-offer scenarios of the past. Affordability remains a concern, with median home values surpassing the $800,000 mark.
For those contemplating selling their Caruth Meadows homes, 2024 presents opportunities to navigate the market strategically. Feel free to reach out for collaborative planning, ensuring a successful sale in this dynamic real estate landscape.
Click here to see current month to month Caruth Meadows real estate trends & statistics:
Caruth Meadows Historical Real Estate Trends
The median sales price is the middle price of all the real estate sales prices in Caruth Meadows. The median sales price is the price at which half of the properties sold for more and half sold for less. See how the median sales price in Caruth Meadows has trended since 2008.