In crazy housing market, even many sellers think their property is overpriced
Almost 30% of D-FW homes fetch more than list price.
North Texas home prices have shot up by 18% in the last year.(Steve Brown )
6:00 AM on May 19, 2021 CDT
With home prices in Dallas-Fort Worth setting records every month, sellers are getting even bolder with their asks.
Homes sold by real estate agents in North Texas are already selling on average at prices greater than the list prices.
Even many sellers think people are paying more than their properties are worth.
Realtor.com found that 29% of sellers are asking more for their properties than they think they’re worth. And in many cases, they’re getting it.
Sales of rural properties in North Texas are surging, much like the phenomenon of residential home sales in cities and towns.
“Booming countryside sales that marked the third and fourth quarters of last year were just a prelude to what’s happened so far in 2021,” according to the Texas Real Estate Research Center.
“In the aftermath of the COVID-induced economic lockdown, 2021 Texas rural land markets have exploded in a burst of activity,” said Dr. Charles Gilliland, research economist and rural land expert for Texas A&M University.
Ann Bishop, broker and partner in the Bishop Realtor Group in Wichita Falls, is seeing the same thing.
North Texas home sales and prices revved higher in April
Home sales jumped 28% from a year ago as prices set a new record.
Real estate agents have sold more than 33,000 North Texas homes in the first four months of 2021.(Steve Brown )
6:00 AM on May 10, 2021 CDT
North Texas’ runaway housing market headed into the spring buying season with unheard-of increases in sales and prices.
Real estate agents sold 10,152 single-family homes in April 28% more than a year earlier. Condominium sales more than doubled.
And the median single-family sales price set a record at $325,000, 18% higher than in April 2020, according to the latest data from the Texas Real Estate Research Center and North Texas Real Estate Information Systems.
The pandemic had numerous after-effects, among them, the rising cost of lumber and building materials, creating problems for East Texas home builders and re-modelers. Though new home construction has increased since February, lumber and other variables are making doing business a challenge.
New York home sales firm heads to Dallas with new office
Douglas Elliman Real Estate is featured on popular television show.
Douglas Elliman Real Estate has more than 7,000 agents working in more than 100 offices.(Douglas Elliman Real Estate )
Douglas Elliman Real Estate is an independent residential sales company best known for high-end properties.
The company is featured on the popular television show,
Million Dollar Listings.
Elliman Real Estate is opening a Dallas office to handle preowned home sales, condominium sales, rentals, corporate relocation and builder sales.
“Dallas is the largest luxury real estate market in the state of Texas,” Jacob Sudhoff, CEO of Douglas Elliman’s Texas operations, said in a statement. “As the premier luxury brokerage that sells the most expensive homes in the U.S., we have an amazing opportunity not to just raise the bar, but also do something different.