Dallas Housing Market: Trends & Prices

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    Dallas Real Estate Market Overview

    (Last Updated – 03/2020)

    When you stop and think about it, the Lone Star State isn’t all that lonely. After all, 28.7 million people live in Texas—and a large chunk of those people happen to reside in Dallas. 1.35 million people call Dallas home and we can see why.

    First, let’s talk about the sun. Dallas averages 234 sunny days per year—which is pretty darn good when you consider the national average is only 205. And when it comes to snow, Dallas sees an average of only 1 inch, considerably less than the national average of 28 inches.

    Rain or shine, does the weather really matter if you have good food to eat? Dallas was named one of the best cities in the country to find good BBQ food.

    Beautiful weather combined with delicious restaurants sounds like a winning combo. Dallas also has a relatively affordable cost of living as far as big cities go. The cost of living in this city is only 2% higher than the national average.

    That may be why Dallas housing prices have been on the rise. In the past year, the average home price in Dallas has gone up since last year. If you’re considering buying a property in the great city of Dallas, you’ll want to keep reading for fast facts about the Dallas real estate forecast, neighborhood demographics, and home prices.

    $287,000

    Avg. Home Price

    $169

    Avg. Price Per Sq. Ft

    60 days

    Avg. Time on Market

    Dallas Housing Market Forecast

    If you’re looking to buy, we have some good news for you. Although Dallas home prices have gone up since last year, experts are anticipating a possible fall in prices over the next year.

    You’ll want to move quickly if you fall in love with a house, as the average Dallas home only spends 38.5 days on the market.

    Housing market forecast chart

    *Graph taken from Zillow as of 02/2020

    Demographics of the Dallas Market

    Texas is a massive state and one that has a lot to offer. Dallas is just one of the many gems you can find in Texas—although the BBQ food is really the shining star! Before you make a move, you might want to consider some of the key demographics of the Dallas real estate market.

    Why move to Dallas besides BBQ? Let’s take a look at some of the top reasons why you should consider a move to Dallas – Fort Worth.

    Employment opportunities in Dallas – Fort Worth housing market are heating up! From just 2017 to 2018, employment in this area grew 2.89%, taking their workforce from 3.71M to 3.82M employees.

    You might want to check out some of the amazing career opportunities at big companies like Facebook if you’re looking for a new job. Feel free to head outside and enjoy a little sun on your lunch break, as on average there is a 61% chance of sunshine in this city.

    Median Income: $52,210

    Median Age: 33.3

    College Educated: 32%

    Homeowners: 40.2%

    Married: 44%

    Oak Lawn

    Oak Lawn is best known for its support of the LGBT community and every September they come together to support the community at a large Pride event.

    There are tons of modern restaurants and shops to choose from, but nature lovers will probably prefer taking a stroll by the beautiful Turtle Creek which connects the Reverchon Park, Dragon Park, and the Oak Lawn Park.

    Quick Facts

    Population:

    18,794

    Median Age:

    33.9

    Housing Units:

    8,340

    Bike Score:

    76

    Walk Score:

    86

    Transit Score:

    59

    Average Household Income:

    $56,633

    Oak Lawn Market

    If you want to buy a home in Oak Lawn, you may want to wait a bit and keep an eye on housing prices. Current home prices in this neighborhood are up 38% since last year.

    Homes in Oak Lawn currently cost significantly more than the Dallas average.


    Average Home Price

    $415,000

    Average Price Per Sqare Ft.

    $248


    Lake Highlands

    The amazing public schools in Lake Highlands may be one of the worst-kept secrets in all of Texas. Families flock to this neighborhood because of the highly rated schools and easy access to big city amenities.

    Not to mention, there is parkland and trails that lead to White Rock Lake for those looking to live an active lifestyle.

    Quick Facts

    Population:

    22,264

    Median Age:

    42.4

    Housing Units:

    11,149

    Bike Score:

    49

    Walk Score:

    45

    Transit Score:

    42

    Average Household Income:

    $103,739

    Lake Highlands Housing Market

    If you’re on a budget, then consider looking for a home in Lake Highlands. The average home price is still above the Dallas average, but homes prices are 2.5% above what they were compared to last year.


    Average Home Price

    $323,000

    Average Price Per Square Ft.

    $166


    Cedar Crest

    Cedar Crest is a haven for nature lovers. Despite being only 20 minutes from Downtown Dallas, Cedar Park is near both Lake Travis and the Balcones Canyonlands National Wildlife Refuge.

    Of course, there are plenty of restaurants and shops to enjoy at the Lakeline Mall if you’re looking for a break from the great outdoors.

    Quick Facts

    Population:

    3,245

    Median Age:

    33

    Housing Units:

    1,310

    Bike Score:

    49

    Walk Score:

    45

    Transit Score:

    47

    Average Household Income:

    $39,150

    Cedar Crest Housing Market

    The housing market in Cedar Crest is considered a bit cold right now, but that works out well for sellers in the area. Home values are growing rapidly in this neighborhood.

    Current home prices are up 13% since last year. Even with these increases in values, homes in this neighborhood are still on par for the Dallas average.


    Average Home Price

    $158,000

    Average Price Per Square Ft.

    $112


    Wolf Creek

    Only 21 minutes from Downtown, Wolf Creek offers an easy commute for busy workers. This family-friendly neighborhood has 22 schools for families to choose from and is known for having neighborly pride and a community spirit.

    80% of locales reported the yards are well-kept in this area and 66% feel there is plenty of holiday spirit.

    Quick Facts

    Population:

    14,413

    Median Age:

    32

    Housing Units:

    5,681

    Bike Score:

    42

    Walk Score:

    31

    Transit Score:

    39

    Average Household Income:

    $43,525

    Wolf Creek Housing Market

    If you’re looking to buy in Wolf Creek, now might be your moment. Curren home prices in this neighborhood are down 4.5% since last year.

    Additionally, houses are going for about 4% below list price and are on the market for 41.5 days.


    Average Home Price

    $181,000

    Average Price Per Square Ft.

    $111


    Winnetka Heights

    This small community of historic homes is a dreamy place to raise a family or to enjoy the single life. Food and art lovers can take advantage of the local restaurant scene and being close to the Bishop Arts District. This neighborhood is popular with visitors, but also the perfect place for locals to call home.

    Quick Facts

    Population:

    29,448

    Median Age:

    34.1

    Housing Units:

    11,388

    Bike Score:

    52

    Walk Score:

    53

    Transit Score:

    46

    Average Household Income:

    $83,005

    Winnetka Heights Housing Market

    Home values in Winnetka Heights are on the rise and prospective home buyers may be feeling the impact.

    Current home prices are up 30% since last year and houses stay on the market for only 22 days on average.


    Average Home Price

    $514,000

    Average Price Per Square Ft.

    $211



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