As we’ve previously alluded to on several different occasions, the real estate market in 2015 looks to be very bright, especially here in the Dallas-Fort Worth area. Inventory should be up and affordability is going to be a key factor due to a wave of home buyers expected to enter home ownership for the very first time.
Over the last 12 to 18 months, we’ve certainly seen more home buyers ditch the suburbs in favor of a more efficient, city-living lifestyle, and in 2015, that trend will continue to some degree, but on a slightly lesser scale. This year, home buyers are still leaning towards that convenient urban model, but instead might look in other parts of the DFW metro area that haven’t jumped in value over the last couple years.
The dramatic increase in home and condo prices in well-established parts of downtown Dallas will certainly price some of today’s home buyers out, specifically the first-timers, so looking for a place that’s just a bit further off the beaten track might be in store for many soon-to-be home buyers both this year and next.
Just a couple weeks ago, Redfin released their annual neighborhood predictions for 2015 and the results seem to suggest that many will be broadening their search radius in the coming weeks and month. Topping the list is the City Center District in Dallas - a neighborhood that’s a little more ‘mature’ than Uptown and a little less urban than downtown, but still offers great home values and easy access to the Arts District, Deep Ellum, and the Main Street District, which all feature great lifestyle amenities for locals to enjoy.
The Crestline and Meadows West neighborhoods in Fort Worth take home the #2 and #3 spots on the list, which is especially interesting given we haven’t seen Fort Worth make a Top Neighborhoods list for a little while now, especially among the young adult demographic.
Rounding out the top 5 is Devonshire in Dallas, which of course is a more upscale option for luxury home buyers, and Oak Creek in Arlington, Texas—the most affordable neighborhood on the list with a median sales price of $190,000.
For some at-a-glance stats for what are projected to be the top neighborhoods in the Dallas-Fort Worth metro area this year, have a look at the chart below and click on each neighborhood to view active listings currently on the market for each. And as always, for more information or to schedule a private showing for a home or condo you’d like to see in person, contact DFW Urban Realty at (214) 764-4121 today!
Median Sales Price
Days on Market
|City Center District (Dallas, TX)||$237,000||31|
|Crestline (Fort Worth, TX)||$369,000||41|
|Meadows West (Fort Worth, TX)||$439,000||57|
|Devonshire (Dallas, TX)||$849,000||29|
|Oak Creek (Arlington, TX)||$190,000||28|