DFW Real Estate Market Update October 2016
The #1 question our team gets frequently is “how’s the market” – so here’s a quick update for the Dallas/Ft. Worth region. Since the date of this post is the middle of October, we’re going by September data (although we’re consistently trending similarly in October). In DFW we are still predominantly in a Seller’s market, especially for homes priced below $600k. In some cities (Frisco for example), we are seeing a Seller’s market trending up to $700k for the first time in a very long time. In some other cities (and price points), it’s still a Buyer’s market for $600k+ currently, with a much stronger Buyer’s market at $1,000,000 and above across the board.
Annual appreciation rates are strong across DFW. This is an indicator of how much the average property value has appreciated year-over-year. Some cities have appreciated in value as much as a staggering 14-15% in one year.
Rates have stayed low which benefits everyone, and the population growth in DFW continues to make this a strong market. We’re seeing rates commonly around 3.5%, and some below 3% depending upon the amount of cash down and length of borrowing time.
This is still a great time to sell as well as buy a house. Inquire here for specific market data so that you will know the true value of your property as well as what you can purchase your dream home or investment for if you’re considering doing so.