REPORT: Year-Over-Year Price Changes in DFW's Hottest Communities

Posted by Kenneth G. Cox on Saturday, July 25th, 2015 at 10:36am

In case you haven’t been paying attention, Dallas-area home prices have increased a lot in recent months. But even despite the median price level at its all-time high, reports still surfaced last month about pending home sales in DFW also being at their highest levels since 2006.

While many parts of the DFW region are seeing around a 15% hike on preowned homes, other areas like Oak Cliff, Fairview, and North Dallas have jumped by 20 or even close to 30 percent. And while it’s hard to pinpoint exactly what’s causing this monumental shift in the DFW real estate market, low inventory, pent up demand among young home buyers, incredible job growth in the area, and the risk of increased mortgage rates are certainly all contributing to what’s been a record setting year for the Dallas-area housing industry.

Earlier in the week, the Dallas Morning News presented some data relating to price trends and home sales in the DFW region over the first half of 2015, with some of the key year-to-year price changes in some of DFW's hottest communities featured below:

Community         

Median Home Price     

        Change From 2014

     
North Dallas $800,000 +22%
Richardson $225,000 +16%
Irving $217,220 +19%
 Plano $301,000 +11%
 Carrollton-Farmers Branch     $221,500  +19%
 Lewisville-Flower Mound $279,000  +14%
Grapevine $305,000 +11%
 McKinney  $279,450  +16%
 Garland $144,200 +12%
 Allen $299,500 +16%
 Fairview  $437,650  +29%
 Wylie $224,900  +18%
 Oak Cliff $137,000 +38%
 Grand Prairie  $154,600  +13%
 East Dallas $329,420  +16%
 Coppell  $367,500  +5%
     
     

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