It is hard to name the metroplex. We call it DFW or Dallas Fort Worth. However, there is a lot more to the metroplex. South like Arlington, Grand Prairie and now a booming Mansfield. These areas are hot, but the real growth is north! Plano, Frisco and Allen are on fire! Homes last less than 24 hours in those areas with multiple full-price offers. That is actually the case all over this big ol town.
It is a sellers market for sure. It is hard to find a home, and when one is available that a buyer likes, then the competition really begins. For listings, some cannot even get the signs in the yard before the offers start rolling in – sight unseen at many times. This makes the hussle hard for buyers but easy for sellers. The reason? 4,000 people are moving here each week. That’s crazy! According to the Dallas Morning News, Dallas-Fort Worth added more new residents than almost anywhere else in the U.S. in the latest population estimates.
The following chart is from the Dallas Morning News (with permission) and depicts what is going on up here.
I have clients ask me if the market is going to correct. I can only say that I cannot see it going anywhere here in this boom economy. Businesses are moving to Texas for the amazing tax breaks. People are moving here to work for those businesses and also because Texas has no income tax. I had several clients who wanted to purchase property just before the end of the year for that purpose alone. I do not think that the prices or housing stock are going to correct any time soon, so if you want to buy, do NOT wait a few months for things to calm down. The stats show that will not happen. If you buy now, and things continue as they are, you will have equity in your home in just a few minutes, pardon me months!
I am experienced and know this area very well – all over it! I am back home here in DFW most of the time, though I still work in the Austin market, mostly lake properties and student housing. I love helping people, so call, text or email me. I can help make this process fun and reduce the stress…