According to the latest figures from Zillow, home values in DFW are increasing at a faster rate than ever in 15 years. This is great for sellers but not so great for buyers, be it first-time buyers or persons hoping to buy what they consider an affordable home here in the Dallas area. Here are some statistics to show these increasing home values in DFW!
As the home-buying season begins in earnest, and with remote work opening more opportunities in affordable markets, millennials and other first-time buyers will face stiff competition for starter homes.
Typical home values in the metro area appreciated 1.1 percent from January to February 2021, which is the largest monthly growth in DFW since March 2004. DFW’s annual home value appreciation of 7.9 percent is the largest yearly growth since March of 2018.
Another analysis of home values by ZIP codes shows that DFW homes are appreciating fastest percentage-wise in the least expensive ZIP codes.
In Dallas-Fort Worth, home values in the least expensive tier showed 9.5 percent appreciation from February 2019 through February 2020, while those in the most expensive tier rose 8.6 percent.
Values in the lowest tier now sit at about $180,000 and the highest are at about $410,000. Across the U.S., values of the least expensive homes rose faster than either mid- or top-tier homes in 44 of the 50 largest U.S. metros.
It’s expected that DFW home values will grow 12.6 percent over the next year based on Zillow’s predictions. Right now home values in DFW are increasing at a faster rate than ever in 15 years!
Beth Brake REALTOR®
Positively changing your life as you move forward to your dreams.