Is Dallas a Buyers Market?
This is a really good questions that we get asked all of the time. Overall, I’d say we are in a seller market but the answer for you is: It depends. This article with tell you more about the state of the market for home buyers in Dallas TX.
It depends on your property type and where it’s located
If you are selling a single family home in a really desirable neighborhood, the chances are great that it will sell fast. The reality is that there are just certain areas where a lot of people want to live. The opposite is also true. There are places where almost no one wants to live and if the house you are selling is there, good luck on even getting very many offers.
When people are looking to buy a home, they are pretty much looking for the same things. They want to live in nice neighborhoods that are quiet, access to freeways, good shopping, great schools, and close proximity to their jobs. (to name a few) If a house can offer most of these things, it won’t last long on the market.
The same is not true of townhouses or condos. These usually have much less of a demand than houses to. Add an ugly design or a bad location and you have a property that not many people want to buy. On top of that prices for townhouses and condos have dropped from July 2017 to June 2018.
Investment properties are in demand. An expanding population, pro-business environment and growing number of headquarters are bringing investors into the Dallas TX real estate market.
Investors are paying cash to purchase these properties.
Because of this, many sellers are throwing out higher prices just to see if anyone bites, but most investors are walking away from deals that don’t make sense.
It still isn’t getting any easier for prospective buyers to get traditional financing to purchase homes. As a result of the Great Recession a few years back, banks are being have made it more difficult to get loans. They want more money down and are rejecting a lot of people from getting loans. It’s not uncommon for approved buyers to get their loans pulled right before closing escrow.
With All Of This, What Can You Do? Call Us, We Can Help!
Theres still plenty of shaking up still to come in today’s market.
But we’re a local Dallas real estate firm. We love the city and we’re not going anywhere.
If you need to sell a house in or near Dallas TX, we can help you.
We pay CASH for houses and can usually close in less that 10 days. Give us a call today and we’ll give you an offer for your house. In this market, you have to act fast because things are changing quickly.