ALEX PERRY
214.926.0158
[email protected]
Allie Beth Allman & Associates
With approximately 300 Californians a day moving to the state of Texas and many others considering investing in the Lone Star State, Alex Perry, the #1 real estate agent in Texas, listing and selling the most, will be providing a monthly column giving insight into Texas real estate from all angles—living, investing and understanding.
■ Luxury is HOT: Luxury homes remain hot commodities in North Texas. Agent Story, a real estate tech company, says that single-family homes priced at $2 million and above have accounted for at least $500 million in sales in DFW since January. About 80 such homes sold in the first quarter and at least 160 similarly priced homes sold in the second quarter. In July, 23 homes priced at $2 million and above sold, compared to 15 homes sold in July 2022. The trend remains a testament to the robust and diversified North Texas economy.
■ Million Dollar Winner: The North Texas economy makes the area among the top in the state for sales of homes priced at $1 million and above. And the sales of these homes are moving faster and at higher prices, from an average price of $482 per square foot last year to $523 per square foot in 2023. The number of days on the market for these homes also has dropped from 47 days late last year to about 38 days in the second quarter of this year.
■ Leading the Country: Dallas-Fort Worth continues to lead the country in apartment sales. For the period ending June 30, more than 30,000 apartment units changed hands, says a new report by data analytics companies RealPage and MSCI. Those apartment sales in North Texas accounted for about 10% of all apartment transactions across the country. Those sales made up more than half of the DFW’s $8 billion in commercial property purchases this year.
■ Better than Most: North Texas continues to see fluctuations in home prices. The National Association of Realtors says that at the end of June, median home sales prices in DFW were down about 4.5% compared to the same period last year. That’s much lower than most metro areas and I see that well-priced homes in premier neighborhoods across Dallas continue to demand competition and top dollar.