Housing & Relocation

By Jason Moore, REALTOR® and Co-Founder of 2415 Realty

The D in DFW stands for “Destination”! With more than 100,000 people moving to the area over the last several years - and in 2021 more people moved to DFW than any other place in the U.S. - it’s safe to say the secret is out that Dallas Fort Worth offers affordable housing in great school districts, all with the ability to land high paying jobs.

I believe we have become one of the premier destination areas for great cities and suburbs, schools, jobs and businesses for our corporate tax structure. There is no slowdown in sight, and we are starting to see our beloved DFW expand exponentially in all areas. Cities that were once barely known are become sought after and populated suburbs with waiting lists to build on. Mix that in with a slew of investors pumping money into both long- and short-term rentals and our lack of inventory will seemingly be a problem that persists for some time.

COPPELL 75019 APRIL ’20 APRIL ’21 APRIL ’22

MEDIAN SELLING PRICE $445,000 $469,000 $693,500 ORIGINAL LIST PRICE $413,500 $525,000 $629,000 # OF HOMES FOR SALE 96 42 32 NEW LISTINGS 120 67 61 CLOSED SALES 35 41 40 MEDIAN DAYS ON MARKET 11 4 5

Housing data provided by 2415 Realty

ADVICE FOR BUYERS...

We may be seeing the beginnings of the market softening to some degree, whatever that means in our hyper-fast moving market. Homes are beginning to sit, price reductions are happening and the days of 50+ offers at 25% over list price are behind us. It’s still competitive if you want the “shiny penny” house, but we are seeing sellers start to list a bit high. Interest rates are up higher than they have been for quite some time, so this is a contributing factor. Have the mindset of trying to buy while things are slow and you can refinance when the economy figures itself out.

ADVICE FOR SELLERS...

The time has passed where you could put a sign in your yard and have people writing blank offers, or giving naming rights to their children. However, we are still, by definition, in a sellers market. Things are tapering off, but they were so one-sides for awhile it seems like a borderline complete market shift. Year over year, we are still seeing record low days on market and very little inventory. The biggest factor here is price, the median price is up almost 50% in Coppell from last year, you have seen your biggest asset almost double and if you are planning to sell, it’s a great time to cash out some serious equity.