The Dallas real estate market is hotter than ever. Home prices in Dallas and greater North Texas show no signs of slowing down. According to The Dallas Morning News, median home prices in November 2021 were 18% higher than one year ago. The price per square foot of single-family homes sold in North Texas has also risen 22% from January 2021. Collin, Denton and Tarrant counties saw the largest price gains.
Inventory levels remain tight, with only 8,200 single-family homes recently listed for sale in a metro area with about 1.9 million single-family housing units.
Why is the demand so high? An above-average population of millennials, a spike of in-bound population growth and a thriving economy or just a few reasons why there is such a demand for Dallas real estate.
Dallas is ranked by the National Association of Realtors (NAR) as one of the top 10 markets in a post-pandemic environment in 2021-2022. Looking at the recent housing statistics, it’s easy to understand why!