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High home demand causes pricing pressure to mount in Dallas’ favored northern suburbs

  • DFW’s ongoing job gains are driving the local housing market across the Metroplex. 
  • For Dallas County alone, average home prices have increased from $227,000 in 2013 to $338,000 as of July 2017.  This reflects an increase of 49 percent.  Other core North Texas counties have seen similar increases.    
  • Due to major corporate relocations and expansions underway in Dallas’ northern  suburbs, supply has been especially limited, which has driven prices are up significantly.
  • Fast rising prices characterize these neighborhoods, which have risen more than 10 percent in the last year. 
  • Inventory is also extraordinarily low, especially in affordable locations like Richardson and Carrollton where barely a month of stock is on the market.  In comparison, a “tight” market is 3-4 months (in 2011, North Texas was at 8+ months).  Days on the market is also telling – now running 35 for North Texas versus 100 back in 2010-11.
  • Most neighborhoods are seeing almost no decline in the list versus sold price.  While this may feel normal at this point in the cycle, in 2011 it was around 90 percent and typically averages 94 percent. 

Source: NTREIS; Lawyers Title DFW; JLL Research​ 

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