alex perry
214.926.0158
alex.perry@alliebeth.com
Allie Beth Allman & Associates
Approximately 300 Californians move to Texas every day, and while many others are considering investing in the Lone Star State, we have the highest number of properties listed and sold in Texas. Alex Perry, the #1 real estate agent in Texas, provides a monthly column that provides insight into the state of Texas. We introduce Texas real estate from every angle, including living, investing, and understanding.
■ Luxury is hot: Luxury homes continue to be a hot commodity in North Texas. Since January, single-family homes priced at $2 million or more have accounted for at least $500 million in sales in DFW, according to real estate tech company Agent Story. About 80 such homes were sold in the first quarter, and at least 160 similarly priced homes were sold in the second quarter. There were 23 homes sold for $2 million or more in July, compared to 15 homes sold in July 2022. This trend remains evidence of a strong and diversified North Texas economy.
■ Million Dollar Winner: North Texas' economic development has led to the region leading the state in sales of homes priced over $1 million. And those homes are selling 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 these homes are on the market has also decreased from 47 days late. From last year to about 38 days in the second quarter of this year.
■ Leading the country: Dallas-Fort Worth continues to lead the nation in apartment sales. More than 30,000 apartment units changed hands in the period ending June 30, according to a new report from data analytics firm RealPage and MSCI. These apartment sales in North Texas accounted for about 10% of all apartment transactions nationwide. Those sales accounted for more than half of DFW's $8 billion in commercial real estate purchases this year.
■ Better than most: Home prices continue to fluctuate in North Texas. As of the end of June, the median home sales price in DFW was down about 4.5% compared to the same period last year, according to the National Association of Realtors. This is much lower than most metropolitan areas and shows that affordable housing in Dallas' upscale neighborhoods continues to command competition and top dollar prices.
