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Mauricio Mazuera
REALTOR®, ePro, AHWD, SFR
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May
27

Dallas-Fort Worth saw the largest spike in home sales prices in the nation, according to a new study, with home prices up 39.5% over last year.  The jump brought the current median home sales price in DFW to $362,782 in April, according to the latest Re/Max National Housing Report.

Todd Luong, a real estate agent with RE/MAX DFW Associates, called the increase "astonishing."    Breaking it down in some of the popular suburbs north of DFW shows Frisco increased 36.6% over one year ago, McKinney rose 34.2%, and Little Elm climbed 33.9% over one year ago, Luong said.  Luong said that population and job growth are pushing home prices higher across North Texas.  "Corporate relocations have been the primary driver for all this," he said in an email. "During these past 10 years, office space in Dallas-Fort Worth has increased by over 55 million square feet, and only New York City has had more office space growth.  "During the same 10 years, industrial space in Dallas-Fort Worth grew by 230 million square feet. All this growth means more jobs, and more jobs mean more people are moving here."

The high price growth affects longtime homeowners and current and recent home buyers and sellers, Luong noted.  He said that appraisal districts have increased 2022 market values significantly across North Texas. On average, he said that home appraisals across Dallas County are up 25% compared to previous years.  "I have never had so many people asking me for help with protesting their property taxes than this year," Luong said. "I hope there can be property tax relief for homeowners in the future. Otherwise, some people may not be able to afford to live in their current neighborhood anymore. I have clients who have already expressed this concern." 

  • Dallas Business Journal, May 18, 2022
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Disclaimer: All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information on this site was last updated 12/03/2022. The listing information on this page last changed on 12/03/2022. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of NTREIS (last updated Sat 12/03/2022 9:00:04 PM EST) or Permian Basin MLS (last updated Mon 11/21/2022 7:45:23 AM EST). Real estate listings held by brokerage firms other than RE/MAX DFW Associates may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. All rights reserved. --

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