Over a Quarter of Dallas-Fort Worth Listings Have Cut Prices. Buyers Have More Leverage Than Most Agents Admit.

In a market commonly described as balanced, more than one in four sellers in Dallas-Fort Worth have reduced their asking price. Across the metro, the latest September data showed 29,364 active listings with a median time on market of 62 days and 27.5% of listings carrying price reductions, according to Ana Martin, a luxury real estate agent with Dave Perry-Miller Real Estate, based in Dallas. That combination points to a market where buyers hold more leverage than the standard industry framing suggests – and where acting on price rather than waiting for lower interest rates may be the stronger financial move.

Martin sees a disconnect between how the market is commonly described and what the numbers show. Listings are down 2.3% year over year, but the volume remains elevated, and the rate of price reductions tells a clearer story than the inventory count alone. “Even though a lot of realtors will tell you this is a balanced market, I don’t agree with that,” Martin says. “I think it is still a stronger buyer market – otherwise we wouldn’t see those reductions.”

The 2021–2023 Pricing Overhang

Much of the current friction traces to homeowners who purchased during the pandemic-era surge. Buyers who closed in 2021, 2022, or early 2023 paid prices that no longer align with where the market has settled. Those sellers now face a difficult choice: accept a lower valuation or sit on the market hoping conditions shift. Many are choosing to wait – and their listings are aging as a result.

Martin says homes are sitting longer because of that gap between purchase price and current market value. Sellers who bought at peak pricing are trying to recover what they paid, but the market will not support those numbers. “Some of them are trying to sell at the purchase price that they bought it, but the market value is not the same,” she says. “The home prices are much lower.”

The 27.5% price-reduction rate reflects a market where initial pricing optimism is routinely corrected by buyer behavior. For sellers who resist adjusting, the cost is time on market – and the longer a listing sits, the weaker its negotiating position becomes.

Why Chasing Rates Can Cost More Than the Rate Itself

One pattern Martin describes is buyers delaying purchases while waiting for lower interest rates – a strategy she argues often backfires. Her reasoning is straightforward: in a market where sellers are under pressure, buyers have pricing leverage they will not have when rates eventually drop and demand returns.

She points to a recent client who initially hesitated because rates were in the high sixes. Working with a preferred lender, that buyer secured a rate of 5.8% and closed with roughly $70,000 in equity. “You go after interest rate, you will lose your advantage on closing on a house at a preferred price,” Martin says.

Martin frames interest rate fluctuations as a normal cycle, not a reason to delay. The unusual period of sub-3% rates during COVID was an anomaly, she says, not a baseline buyers should expect to return. Her advice is to prioritize purchase price over rate, since rates can be refinanced but the price paid is fixed.

A Market of Distinct Submarkets

Dallas-Fort Worth is not a single market, and treating it as one leads to mispricing in both directions. Martin describes several distinct corridors, each attracting different buyer profiles. Preston Hollow offers established luxury on mature, tree-lined lots. Park Cities draws families seeking strong public schools and deep community roots, with homes often passed between generations. The Maple Corridor appeals to younger buyers drawn to walkability, dining, and proximity to downtown and uptown – an area Martin says is adding new restaurants weekly.

Outside Dallas proper, suburban communities like Prosper, Frisco, and Plano are seeing multi-million-dollar new construction aimed at relocation buyers from coastal markets. According to Martin, a home costing $2 to $3 million in those suburbs might be valued at $10 million if placed in central Dallas – a spread that continues to attract buyers looking for more space per dollar.

Relocation Still Driving Demand

Corporate relocations remain a significant demand driver. Martin points to Goldman Sachs and other major firms establishing or expanding headquarters in the area, drawing professionals from the coasts. The absence of state income tax adds to the financial appeal. “My last year in California, I paid $53,000 in state tax,” she says.

For relocation buyers, the decision extends beyond any single property. Martin says these clients evaluate Dallas as a complete package – business opportunity, lifestyle, dining culture, and financial return – rather than comparing individual houses across markets.

What the Next Six to Twelve Months Look Like

Martin’s advice for the near term splits along buyer and seller lines. Buyers should remain selective and take advantage of current pricing leverage while it lasts. Sellers should follow their agents’ guidance on pricing rather than anchoring to what they originally paid. She cautions against blanket predictions across Dallas because neighborhoods vary significantly – a price trend in Preston Hollow may not apply to Frisco or the Maple Corridor.

Her read on the broader direction, however, is direct. “The prices will not stay this low, and I know that they will not,” she says. For buyers who can act now, the window is defined not by where rates go next, but by how long sellers remain willing to negotiate.

About the Expert: Ana Martin is a luxury real estate agent with Dave Perry-Miller Real Estate based in Dallas, Texas, covering Dallas and the surrounding Dallas-Fort Worth suburbs.

This article is based on information provided by the expert source cited above. It is intended for general informational purposes only and does not constitute legal, financial, or real estate advice. Readers should conduct their own research and consult qualified professionals before making any real estate or financial decisions.