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Where to find the Best Buys in Dallas Real Estate


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Boy, you’d think the real estate market is never going to come
back if you listen to mainstream media. Despite the downturn
in markets that went crazy- like Miami, Tampa, Detroit, Las
Vegas, Phoenix and San Diego that have posted double digit
declines, Dallas is still one of the few cities that is still holding
it’s own.

So where are the best buys in Dallas? Before I answer that, take
a look below. If you go through the MLS reports each month
you can find a wealth of information and zero in on specific
opportunities that present themselves.

On a broader scale, let’s look at price range, active listings and
inventory for the end of November in single family housing.

Price Range – Active Listings – Months Supply

$400,000 to $499,999 – 2060 – 9.2
$500,000 to $599,999 – 1130 – 10.8
$600,000 to $699,999 – 770 – 11.3
$700,000 to $799,999 – 610 – 12.7
$800,000 to $899,999 – 427 – 14.4
$900,000 to $999,999 – 281 – 14.6
$1,000,000 and more – 1295 – 16.6

Basically anything between $400,000 – $599,999 and above
$1,000,000 you will find a saturation of inventory just sitting
and personally I know of some homes that have been on the
market 2 or 3 years. These price ranges have the most active
listings and the months supply is endless. Over 2000 listings
in the $400,000 to $499,999 range and over 1295 that are
$1,000,000 or more. That’s reality!

A 5- 6 month supply is considered a balanced market for buyers
and sellers but in Dallas I would say it favors the buyer more than
seller.

If you are looking for a home you could consider bumping up or
bumping down in price by looking at these figures.

So where are THE buys? Uptown, Oak Lawn, Park Cities, Preston
Hollow and North Dallas (Plano & Frisco, too) There are also many
spec builder homes that are sitting and caught in this cycle.  It’s
unfortunate for the builder but good for a buyer looking to take
advantage of the market conditions.

I’m sure you know of homes in your neighborhood that aren’t selling.
They will eventually with the right price and buyer but sellers will net
less than if they sold 2 years ago. Timing is everything in real estate.

Info from the North Texas Real Estate Information System

About Terry W. Smith

Passionate about real estate, positive problem solver, specialty boutique real estate brokerage that does things your way! A full-time Broker & REALTOR®, helping people buy and sell homes in the Dallas - Plano area. Whether you're a buyer just starting out or someone with luxury properties to sell. I have extensive knowledge and experience to help you with your real estate transaction. I am a native Dallasite & know stuff, ask me...

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