In the July issue of the magazine, we used a chunk of the feature well to explore Dallas real estate. We found that the market is still healthy, but it’s plateauing. The leaps and bounds we’ve seen in home values in the years after the Great Recession have turned into skips and hops, but that doesn’t mean the market is falling out. We’ve rolled these stories out one by one but are now grouping them all here with some takeaways. It’s everything you need to know about homes for sale in Dallas. So team up with some real estate agents and find yourself the nearest open house—or don’t.
‘Don’t panic. This is not a bust. It is not a crash.’
Writer Joe Guinto’s 10,000-feet exploration of the race for Dallas homes explores what Realtors are seeing in the MLS. Prices are continuing to rise. Sales, however, are not. He found that, in January, there were 15,254 homes listed for sale in a portion of the Dallas-Fort Worth Area that includes Plano and many other northern suburbs, as well as Irving and other western cities. In April, there were 18,012. That’s about three months worth of inventory, which is far below what we’ve seen earlier this decade. Many experts say this is because the prices are too high. People simply aren’t buying them as rapidly as they have in years past. Which makes sense, as prices are about 60 percent higher now than they were in 2012. Read the whole story here.
Walkable Urbanism is Hot
Researchers and professors Christopher Leinberger and Tracy Loh explore the supply and demand of what they call Walkable Urban Places—or WalkUPs—and how Dallas-Fort Worth is lagging far behind the cities we want to compete with. We are one of the least walkable regions of the nation’s 30th largest population centers. The big data point is this: there are 38 walkable urban places in North Texas. They account for .12 of one percent of our land mass and 12 percent of our gross regional product. And those areas are more valuable and in demand, making them more expensive. If we had more of them, perhaps the prices would go down—and give you more of an opportunity to live near them. Read the whole story here.
Teardowns are a Fact of Life
You have likely seen old homes torn down and replaced with larger, modern new homes. It changes the face of neighborhoods—from Highland Park and University Park to Oak Cliff, West Dallas, and Lakewood—but it’s not a new phenomenon. It’s part of the life cycle of neighborhoods. Since 2012, the city of Dallas has issued 6,530 demolition permits of single-family homes or duplexes. Most are surrounding downtown; buyers are looking for properties where the land makes up the majority of the property value. It makes it easier to make the new construction pencil out. This affects affordability. But it’s also why many buyers keep a close eye on real estate listings. Read the whole story here.
How to Ditch Your Car and Live a Vibrant Life in Dallas
We’ve established that it isn’t easy to live without your car in DFW. So allow Christine Perez, the editor of D CEO, to tell you how she did it. It’ll make you rethink your property type—maybe it’s time for a downtown high-rise? Or an Uptown condo or townhouse? You can take the savings from your car and put it into your new home. Read the whole story here.
Cheaper Homes Are in the Fringes
Get out of Dallas County for a minute. Exurban North Texas is no longer just McKinney and Frisco and Plano. It’s far west Tarrant County, north to Collin and Kaufman counties along Highway 380. It goes south beyond Red Oak and north past Prosper. And it’s here in this outer ring’s real estate market where you can find large, new homes for $250,000 and $350,000, a price range that not long ago was not uncommon in Dallas proper. These are Celina and Little Elm and Wylie and Melissa. Cities like Waxahachie and Forney and Princeton and Fate. But how long will it last? Read the whole story here.
Are Granny Flats Affordable Housing Saviors?
Not quite. The City Council adopted a rule last year that would legally allow homeowners to rent out backhouses on their property. And yet, nobody has taken advantage of it. The idea was to help ameliorate the problem of affordability in Dallas’ hottest neighborhoods while allowing homeowners to get an extra income source. Read the whole story here.
So I’ve Bought My Home. Now, How Do I Argue My Property Taxes?
One man’s experience at the Dallas Central Appraisal District may bring some learnings in for you when it comes time to contend with the tax valuations. Read the whole story here.