SellMyHouseDallas has analyzed recent trends on the Dallas-Fort Worth home market in particular, and the North Texas market in general – and we’ve got good news. It seems prices are going strong and demand is through the roof. If the question “how to sell my house fast in North Texas” has been weighing heavily on your mind of late, it seems that there’s no time like the present.
Check out the trends below, as well as our handy guide on how to quickly sell your home in Dallas, Fort Worth, and the whole North Texas area.
The North Texas housing market is red hot!
Supply hasn’t been this low in years
In late January 2016, about a dozen North Texans camped outside a model home complex in McKinney, desperate to get their hands on a new home. It’s certainly not news that Dallas, as well as North Texas in general, is a dynamic market, dominated by young, first-time buyers. It’s actually one of the best markets for quick home sales in the country, as We Buy Houses experts explain.
The would-be buyers camped out in McKinney in January, were waiting their turn to be among the first who pick from 80 new homes in the Prestwyck Community. The median selling price for a single-family home in the area sits at about $315,000. The area’s housing supply is so low that many seasoned real estate agents can recall current homes sitting on former corn fields.
Coverage of that evening’s events from NBC Dallas-Fort Worth.
The forecast on how to sell your house fast this year
Several areas in North Texas have been evolving at a rapid pace in terms of home prices. Median prices for new homes in Dallas-Forth Worth stood at a little over $300,000 in early 2016. Meanwhile, the median price for new homes in North Texas is around $285,000. What does this tell potential fast sellers?
Land prices and construction costs in North Texas are, indeed, soaring. A pre-owned home could be priced very competitively in this landscape. Just think about the fact that those people camped out in McKinney are going to have to wait until mid-spring, at the very least, before they can occupy their homes. That’s because the rainy cold season has put a dampen on construction, further complicating matters for new home sellers.
The housing supply situation in San Antonio is similar to that in Dallas-Fort Worth
Image source: Texas CEO Magazine
Should North Texas worry about an impending pricing bubble?
Some experts, among which Dr. James Gaines, the chief economist of the Real Estate Center at Texas A&M University, seem shocked about what’s going on with the prices in North Texas. The prices are up by 8.7% compared to July 2014 (see chart below) and the inventory of new homes in McKinney stands at a mere 2,700.
Image source: Dallas News
So, does this spell bad news? Should would-be buyers be concerned about a new pricing bubble? Several industry experts, as well as buyers, and SellMyHouseDallas.com sales staff, don’t believe so. After all, similar trends have swept other local areas, including Plano and Frisco, in recent years. As far as the entire area is concerned, things are looking up for sellers.
The North Texas economy is booming, with 100,000 new jobs added per year. Year-on-year home price gains in Dallas-Fort Worth were the third biggest in all of the U.S. But new home builders are not taking advantage of this trend. If popular wisdom says a new home is needed for every two new jobs, then North Texas, with a paltry number of only 28,000 new homes in 2015, is definitely under-building.
I need a guide on how to sell my house fast!
We’ve got the goods – all you need to do is fill out this online form with all your details, or give us a call at 972.412.8100. We’ll waste no time in sending you a guide on how to sell your North Texas home in 7 days. Here are some of the situations we’ve covered before, and are fully ready to handle:
- Foreclosures and short sales
- Tax liens
- Houses in probate
- House moves
- Personal issues (separation, divorce, difficult tenants, etc.).
We understand that selling your home, especially during an otherwise difficult time for you, can be a hard thing to do. That’s why we’re not going to advise you to invest in costly upgrades and repairs. We are definitely not going to have a throng of so-called ‘would-be buyers’ march through your home and disrupt your life. And we’re certainly not going to promise you a sale that we can’t deliver – because we can sell any type of home.
Come sell your home today with SellMyHouseDallas!
We’re looking forward to having one of our specialists contact you. No matter how complicated your situation seems, believe us when we tell you we’ve seen it all, and there’s no house we don’t buy. Our main concern is to keep the process as worry-free and the sale as profitable as possible for you. Contact us and let’s sell your house the quick and easy way! SellMyHouseDallas.com