2017 was an amazing year for Dallas Real Estate. Many homeowners benefited big from cashing in on the equity in their homes. Some homeowners paid a mere $50,000 cash for a home in Dallas back in the 90's and were able to sell their home last year for well over $300,000! Talk about cash flow! Now experts are saying that Dallas will be one of the top places to see the most action in 2018.
Anyone who watches the Real Estate Market knows that Dallas has been on the radar for a long time. This didn't just happen over night. It has been for many years that Dallas is becoming one of the strongest housing markets in the U.S. Realtor.com...God love em...has put out their economic data tracking homes sales and stats from all over the country. Picking the the top cities to prove 2018 as their expected biggest year to date in homes sales. There were places like Austin, TX and Tulsa, OK on the list of top 10 cities. So this means there has to be one as the sole winner for growth...well Las Vegas made #1 and right under that was Dallas at #2! Woohoo! For almost two years in a row Dallas has been at the top of analytics for the housing market. If my mind serves right then we were at #2 last year as welll.
With a median home price of $339,300, predicted sales growth of 6%, and predicted price growth of 5.6% Dallas is showing no signs of slowing down. I could't be more proud of my city. As demand goes up then inventory becomes lower and prices will surge. In other words there aren't enough homes in Dallas to go around. Home builders are working non stop to try and keep up with the demand. Eventually all of this will level out. The market in Dallas will become a buyers market as we become over saturated with homes. No one knows exactly when that will happen. So for now if you are a Dallas Realtor or a homeowner then enjoy! Happy 2018!