Key points
- Ask what is happening to homes like yours in your price range, not to Dallas as a whole.
- Spring brings more buyers and more competing listings. The right month depends on your home and your next move.
- Pricing high to leave room to negotiate usually means fewer showings, not higher offers.
- Few showings and price feedback in the first weekends are the clearest signs of overpricing.
- Homes sell above asking when several buyers want the same well-priced, well-prepared home at once.
Are Dallas home prices going up or down?
It depends on your neighborhood and price range, and one part of Dallas can move differently from another. A headline about the whole metro tells you little about a house in Lake Highlands or a new build in Preston Hollow.
These are the signals that matter for your own home, all visible in the MLS:
- How many similar homes are for sale now compared with a few months ago
- How many went under contract recently, and how quickly
- Price reductions on active listings near you
- The gap between the last asking price and the closed price on recent sales
Andy pulls these for your area in the free pricing review, so you see your segment rather than an average.
Is now a bad time to sell in Dallas?
Not on its own. Whether now is a good time depends on why you are moving, what you will buy next, and how much competition your home faces right now.
If you are selling and buying in the same area, the market affects both sides: a slower market can mean a slightly lower sale price and a better purchase. Mortgage rates affect what buyers can pay, so your buyer's lender matters too. If you need to move for a job, a family change or an estate, waiting rarely solves more than it costs in carrying a home you no longer live in.
Ask what would need to change for waiting to pay off, and how likely that is. If the answer depends on guessing the market, prepare well and price right now.
Waiting also has costs that are easy to overlook: another round of property taxes, insurance and maintenance, and, if you have already moved, a vacant house to keep secure and insured.
Should I wait until spring to sell my home?
Not necessarily. Spring usually brings more buyers to Dallas, and also more homes for sale, so you face more competition for the same attention.
- Spring and early summer suit buyers who want to move between school years and homes that show well with green lawns and long days.
- Fall and winter bring fewer competing listings and buyers who need to move, including relocations.
- Holidays slow showings, but serious buyers keep looking.
Dallas summers bring their own trade-offs: heat makes outdoor showings shorter and lawns harder to keep green, while buyers who want to settle in before the new school year keep looking through July.
If you do aim for spring, start preparing in winter. Repairs, paint and photos take longer than most sellers expect, and listing early in the season beats listing late, when more competing homes have already arrived.
Should I price my house higher to leave room to negotiate?
Usually not. Buyers and their agents compare your home with recent sales before they book a showing, so a price above the evidence filters you out of searches and off shortlists. You lose the buyers before negotiation starts.
Room to negotiate comes from competition. A price in line with the comparable sales brings more showings, and several interested buyers give you leverage on price and on terms such as the option period, repairs and closing date.
How do I set the list price within my range?
Start from the comparable sales range, then decide where to list based on your competition, your home's condition and how buyers search. Three questions settle most cases.
- What would a buyer see instead of my home? If similar active homes are priced lower and show better, list nearer the lower end or fix the difference first.
- How do buyers filter their searches? Most search in round price bands, so a price just above a round number can drop your home out of many buyers' results.
- How unusual is the home? A one-of-a-kind house with few true comparables may need a wider range and more patience. A typical home on a typical street prices tightly.
Pricing at the lower end of a well-supported range can draw more than one buyer early. Pricing at the upper end can work for a home that is clearly better than its competition. Neither works when the price is outside the range.
What happens if I list my house too high?
- Fewer showings, because buyers searching in your price band find better value elsewhere.
- Your home makes the better-priced homes nearby look like bargains, and they sell first.
- The listing grows stale, and buyers start to wonder what is wrong with it.
- You reduce the price later, often below where you could have started.
- If a buyer does agree to a high price, the lender's appraisal may come in lower and reopen the deal.
The first weeks on the market bring the most attention a listing will get. Pricing right from the start uses that attention.
Agents and buyers see the full listing history in the MLS, including every price change. A home that starts high and comes down invites lower offers from buyers who assume the seller is now under pressure.
How do I know if my house is overpriced?
The market tells you within the first few weekends. Look for these signs:
- Few showings compared with similar homes nearby
- Buyers' agents' feedback that mentions price or value
- Showings but no second visits and no offers
- Similar homes going under contract while yours does not
- Online views that do not turn into showings
When several of these line up, adjust the price, or fix what the feedback points to. A clear, decisive change brings back buyers more than a series of small cuts.
Can I sell my house above asking price?
Yes, when several buyers want your home at the same time. That happens most with homes that are well prepared, well presented and priced in line with recent sales, so buyers feel they must compete.
Compare offers on more than price: how the buyer is financing, the option period, earnest money, how the buyer will handle an appraisal below the price, and the closing date. A slightly lower offer with stronger terms can net you more. Talk with Andy about pricing for your home and timing.
Questions people ask
Should I wait to see if prices go up?
Only if you have no reason to move soon and can carry the home comfortably. Nobody can reliably time the market. Preparing well and pricing to the evidence is within your control.
When should I lower my price?
When showings, feedback and competing sales all point the same way, usually after the first few weekends. One clear change works better than several small ones.
What if a buyer offers over asking but the appraisal is low?
The buyer may pay the difference in cash, you may lower the price, or you meet in the middle, depending on the contract's terms. Ask how each buyer plans to handle a low appraisal before you accept.
Andy Scott is a Dallas Realtor and founding member of the GPS Group at Dave Perry-Miller Real Estate. He grew up in Dallas in a real estate family, has been licensed since 2005, and has helped buyers and sellers for more than 20 years. About Andy · What's my home worth?
