The Dallas real estate market has certainly recovered since the recession ended and is making amazing strides but with this growth comes a very competitive market for today's home buyers. You can start your research online but if you want to take advantage of everything that this housing market has to offer, you need to select the very best real estate agent to represent you... And that’s where we come in!
The greater Dallas area continues to experience an employment boom - and that is expected to boost prices in the sought-after North Dallas suburbs. Demand for housing continues to increase: Mayflower Moving's annual survey just ranked the Dallas-Fort Worth area as one of the top 10 areas in the country that millennials are moving to. And it's no wonder: The Dallas-Fort Worth area created nearly 120,000 new jobs in the twelve months ending in February, placing it as one of the very top job markets in the country. And last February, the National Association of Realtors named Dallas-Fort Worth-Arlington the third hottest real estate market in the country. The Dallas market is getting so hot, in fact, that it's getting tougher for Dallas area home builders to keep up with the surging demand. A growing labor shortage in construction has forced home builders to raise prices and delay starts on new homes. So, we expect the ongoing housing shortage in the Dallas area, to include the suburbs of Plano, Frisco, Allen, McKinney and other area communities, to continue for a good, long while. Dallas Morning News reports that over the first three months of this year, North Dallas area real estate agents sold more than 400 homes at the $1 Million price point and up. We're also seeing some serious inventory shortages for moderately priced houses between $200,000 and $400,000. Homes in this price range are often selling within a few days of being put on the market - at full asking price, in most cases, and often higher. Overall, prices of preowned residences have increased by more than 40 percent over the past four years, all around Dallas. Meanwhile, Frisco continues to grow by leaps and bounds. The city's population was 6,000 as recently as 1990. It’s over 161,000 now and expected to reach 375,000 people by the year 2035 according to the Dallas Business Journal. So, the housing market in the area is expected to continue to tighten as the population grows. Frisco and Allen, Texas both made Smart Asset's Top 10 Rising Housing Markets for this year, at the Number 10 and Number 7 spots in the country, respectively. Texas dominated the list, with Midland taking the Number 1 spot and Odessa and Austin caking third and sixth, respectively. So, markets are getting a lift all over the state. Yes, housing prices are going up throughout the Dallas area. But the northern suburbs of Frisco and Plano and their surrounding communities are in better shape than others for one big reason: Salaries are increasing in North Dallas faster than they are in the rest of the greater Dallas-Fort Worth area. So, while other markets may soon cool off as home prices outrun the pool of available qualified buyers, our area is seeing wage growth that will feed a pool of qualified buyers and renters and help propel a booming housing market along. If you're thinking of listing your home for sale, know char you'll be selling into strength. But it still pays to work with an experienced real estate professional who has a strategy for marketing your home, has invested in the technology required to get your home in front of the biggest number of qualified buyers possible in a very short time, and get the best price possible for your home. Whether you're looking to buy or sell, or both, I'd like to be your real estate adviser on your next transaction, and I look forward to serving you.
Ross Ayesh and the NTX-Houses.com team have worked with countless buyers, sellers and investors. We decided to name our website NTX-Houses.com, because our team specializes in North Texas, specifically the Dallas area! We love living and working here, and we’ll do everything possible to make sure you love it, too.