2017 so far has been a great year for Dallas real estate. Housing demand has increased significantly, mortgage rates have remained affordable, and the government has already started delivering on its promise of infrastructure development. According to Realtor.com, the number of active listings has increased from 1,343,000 in January 2017 to 1,582,842 in July 2017, which is indicative of a strong housing demand.
But has Dallas managed to match the pace at which the national real estate industry is growing? Will it continue to progress at an unprecedented rate and offer more lucrative opportunities to both homebuyers and sellers?
Here’s a quick account of how Dallas real estate market is expect to behave in fall 2017.
1. Sellers will be In the Housing Market’s Sweet Spot
Whether you are relocating for work to another state or you are looking to make a move into a larger home, the fall of 2017 should be a favorable time for you to enter the housing market and list your home for sale.
The Dallas real estate market has experienced an 10 percent year-to-date increase in average listing price in the first nine months of 2017 and the trend is expected to continue for the remaining three months as well. So, you can expect to get a good return on your real estate investment. Just a small tip: prefer a higher offer over a quicker closing!
2. Buyers Will Face a Tight Market with Low Housing Supply and Intense Competition
If you are a first-time homebuyer or an individual looking to scale back, you are likely to face some trouble finding the home of your dreams this fall. A widening demand-supply gap resulting from limited housing supply and increasing real estate demand will cause you to face intense competition from rival homebuyers. However, flexibility will be the key to navigate through an intensely competitive landscape and find a cheap real estate deal.
If you are willing to move further north from downtown Dallas to the Suburbs of Celina, Prosper or Frisco, you will be able to find some really good real estate deals at reasonable prices. In addition, investing in a home that requires a small roofing or kitchen upgrade should also help you save a significant sum of money.
New Home Buying Tip: After Labor Day each year the new home builders in the DFW area start marking down inventory for end of year financial reporting. THEY NEED TO SELL!Great time to start looking at builder homes. Most have started slashing prices or offering incentives. Contact us today!
What Does It All Mean To You?
Just like any other industry, Dallas real estate market has been experiencing a major shift resulting from the evolving geopolitical situation, technological advancements, and changing needs of homebuyers and sellers. The most feasible way to conduct a profitable real estate transaction amidst such a dynamic and uncertain environment is to partner with a real estate agent who can help you find the home you are looking for at a price you can afford.
If you are willing to buy or sell a home in Dallas and need an expert real estate agent to assist you throughout the process, you may contact me on my website. To get more tips about home buying and selling, you may also visit my blog.
Are you a first time new construction home buyer in Dallas metro area or Frisco, TX? If so, make sure you take good note of the above market information By taking into account these market statistics, buying your first new build home in Frisco TX will seem much easier and less stressful! If you have no selected a top Frisco, TX Realtor to represent you in your home purchase, contact me, and I’d love the opportunity to interview for the opportunity to help find you your dream home! Check out our Dallas Relocation Resources at http://www.nitinguptadfw.com/dallas-relocation-real-estate-agent
When it comes to Dallas real estate tips and tricks, there are tons of great articles and content available for first time home buyers on our website.
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Ask us about our new home builder buyer discount, cashback and rebate options for new construction Frisco, Prosper, Celina, Flower Mound and Southlake homes!
Updated October 3, 2017