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Affordability and “quality of life” are key – what your housing dollar buys in some major markets

• The economic growth in north Texas has ignited DFW’s housing market, with availability low, homes selling fast, and prices appreciating rapidly.

• In Dallas County, which is representative of the core north Texas region, the average sale prices hit $357,000 in February.  That is an increase of 9.2 percent in the last year. 

• Average time on the market also remains unusually low at 42 days -- and the percent of list price achieved is running 97 percent – well above the longer term average. 

• With the average existing home price up 57 percent since the start of 2013, it is easy to be shocked and worry about our market’s affordability being eroded.

• Clearly, homes cost more these days in DFW, however, we still get a lot of house for our dollar.  The Plano home above is west of US 75 and an easy commute to our fast growing northern suburban job base.

• We’ve compared the Plano home to select markets to illustrate what the same  dollar buys, underscoring why companies and job seekers continue to be attracted to DFW – despite the recent pricing run-up.  

Source: Realtor.com; North Texas Real Estate Information System; JLL Research




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