Dallas TX New Construction Home Report: Here's the market update New Home Sales in Dallas for September 2017
Sales in September 2017
September 2017 Dallas New Home Sales recorded 75 sales. The cheapest new home was sold for $143,000 and the most expensive new home was sold for $2,700,000. The sales price for new homes sold in Dallas was $196 per sq. ft. compared to $175 per sq. ft. for resale homes. The number of months of supply of new homes in Dallas stands at 4.9 months. Average sales price for new homes in Dallas was $494,000 in September 2017 compared to $400,000 in August 2017.
Median new home prices in Dallas-Fort Worth have jumped to record levels of more than $382,000. A mid-priced new house will run you about $100,000 more than a preowned property — the biggest spreads ever between new and existing homes as shown above.
The price disparity has run many first-time buyers out of the new home market. Some builders have concentrated on serving the more affluent "move-up" home sector. With floor plans ranging from about 1,800 to more than 2,800 square feet, the houses are much larger than a traditional apartment which makes them more affordable to the younger buyers
Sales year to date (YTD)
Overall, 813 new Dallas ISD homes have been sold so far this year (September 2017). Some of the subdivisions include:
The Heights at Oak Lawn
Villas of Lake Highland
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Top Dallas TX New Home Builders selling homes from $330,000 to $1,649,000 are:
David Weekley Homes
PSW Real Estate
Larkspur Capital Partners LP
In Town Custom Builders
Ashton Woods Homes
K. Hovnanian® Homes
Dallas New Home Builder Construction Statistics
* median DFW new-home prices are more than $100,000 higher than a decade, ago
* as of August 2017, the median home price in DFW is $320,600
* for 2Q17, new-home starts of $200,000 to $250,000 are up by 28%
* 2Q17 home-starts below $200,000 represent only 8% of total starts, compared to 62% a decade ago
* the greatest jump in starts for 2Q17 is for homes priced between $350,000 and $399,000
* closings between $300,000 and $399,000 have surged – builders state that homes priced under $400,000 are in the greatest demand
* from 2Q16 to 2Q17, new-home starts jumped 14%
Are you a first time new construction home buyer in Dallas, 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 Dallas TX will be much easier and less stressful! If you have not selected a top Dallas, 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!
If you are planning to relocate to Dallas TX area and are planning to explore areas like Deep Ellum, Expo Park, Downtown Dallas, Medical District, Oak Lawn, Old East Dallas, South Dallas – Fair Park, The Design District, Uptown, Plano TX, Frisco TX or Southlake TX, contact us. Our excellent Dallas Real Estate Services provided by top Dallas Real Estate Agents will make buying your first home much easier and will make your Dallas TX relocation less stressful! Check out our Dallas Relocation Resources at http://www.nitinguptadfw.com/dallas-relocation-real-estate-agent
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