Articles Tagged "Keller"

The North Texas housing market is downshifting quickly, with Dallas-Fort Worth being the only U.S. market to see a decrease in home sale prices last month, according to a report released today.  DFW home prices are down 1.9% year over year in July, according to the latest Re/Max National Housing Report.

And what a difference a month makes.  Last month, DFW led the U.S. for home price increases, with June prices up 29.3% over the previous year.   In hard numbers, home sales prices in DFW fell to $413,900 in July from $422,000 in July 2021.   Homes in DFW spend an average of 23 days on the market before selling.

Higher interest rates and inflation, as well as record home prices, triggered a sharp drop in demand for housing, said Todd Luong, a realtor with Re/Max DFW Associates:  "Here at our Re/Max office in Dallas-Fort Worth, our listings are currently getting on average 2.7 showings per week," Luong said. "Last year, at this same time, our listings were earning on average 5.9 showings per week. That is a huge drop in buyer demand compared to the previous year. Record home prices and higher mortgage rates have forced many potential buyers out of the market, especially first-time homebuyers."

While the latest trends may disappoint some sellers, buyers now have more choices and better opportunities for good deals, Luong said.   Luong said that the DFW housing market has been challenged with low inventory for years and reached an all-time low earlier this year, with only a two-week supply. Now, however, inventory is increasing.  "Although buyers have more choices now, it is still not a balanced market as we only have about a two-month housing supply," Luong said. "In a normal market, you have about a five to six-month supply of housing."

A new report from Zillow also found falling home values, although the numbers didn't match Re/Max's precisely because of different study methods and different geographic definitions of DFW as a metro area, among other reasons.  According to Zillow's findings, the Dallas-Fort Worth metro area's typical home value is $396,904, down 1.1% since June, the first month of decline. Values are up 55.4% since July 2019.

Zillow also reported that the mortgage payment on a typical home in DFW is $2,633 a month, including taxes and insurance. That's up 77.4% compared to July 2019.

According to Zillow, inventory in DFW has risen 10.2% since June, and the share of listings with a price cut in July was 22%, compared to 15.6% in June.  Nationwide, after two years of unprecedented growth, home values fell for the first time since 2012 as competition for houses eased, according to Zillow's July market report.

The slowdown is being driven by decreased competition among buyers. Zillow's analysis says that affordability pressures have pushed many to the sidelines, and buyers are waiting in the wings to resume their search if and when prices relax a bit.  Skylar Olsen, Zillow's chief economist, called the flattening of home values "a badly needed rebalancing.  This slowdown is about discouraged buyers pulling back after the affordability shock from higher rates," Olsen said. "As prices soften, many will renew their interest, and we will continue our progress back to 'normal.'"

Luong said he sees positive signs in the market.  The interest rate for a 30-year fixed mortgage dropped below 5% after peaking in June. More than 290,000 new jobs were added in Dallas-Fort Worth last year, so North Texas has one of the strongest labor markets in the country.   "Reasonably priced homes that are in good condition and move-in ready are still selling very fast," he said. "However, the bidding wars have subsided considerably across the board."

• Dallas Business Journal, August 19, 2022

St. Patrick's Day is coming right up on March 17. It's a holiday that brings a wealth of enjoyable annual events to the Dallas-Fort Worth area. 

If you're looking for a way to have fun and get your blood pumping this March, be sure to check out one of these great St. Patrick's Day festivals, 5ks, races, and runs in DFW!

• Dallas Mavs St. Patrick's Day Parade & Festival - Dallas, TX 75206
  The annual Dallas Mavs St. Patrick's Day Parade & Festival is one of the most anticipated events of spring. The parade kicks off down Blackwell Street at 11 am on March 12 (the Saturday before St. Patrick's Day), and the festival stretches from 9 am until 3 pm. There will be an abundance of food, drink, fun and games just minutes from these Dallas homes for sale. Be sure to also check out the block party and concert at Energy Square. 
  
  
• St. Paddy's Day Dash Down Greenville 5K - Dallas, TX 75206
  Lace up your running shoes for the 2022 Dash Down Greenville! This annual 5k run/walk takes place on Saturday, March 12, in Dallas, right before the parade. Registration is open through February 26, so you still have time to join the festivities. After the 5k, there will be a post-race party that includes beer, food, music, and cash prizes for the winners.
  
  
• St. Patrick's Day Sprint Tri - Keller, TX 76248
  If you really want to get moving on the Saturday before St. Patrick's Day, then the St. Patrick's Day Sprint Tri in Keller, TX, might just be the event for you. Participants in this triathlon event must endure a 300-meter pool swim, 12.6-mile bike ride, and 3.1-mile run before reaching the finish line. The Sprint Tri begins at the Keller Natatorium, not far from these Keller homes for sale.
  
  
• Irving St. Patrick's 5k - Irving, TX 75039
  You can always count on the Irving St. Patrick's Day 5k for some good exercise and a good time. The USATF certified course takes participants on a scenic path through downtown Irving-Las Colinas, a stone's throw from some beautiful Irving homes for sale. Awards are given for 1st, 2nd, and 3rd place in various age groups, and race day perks include live entertainment, race swag, free pancakes, and two free beers for each participant over 21 years of age. 
  
  
• McKinney St. Patrick's Day Shamrock Run 5k - McKinney, TX 75069
  The city of McKinney knows how to throw a St. Patrick's Day Party. The annual McKinney St. Patrick's Day Shamrock Run 5k kicks off at 9 am on March 12 at TUPPS Brewery and takes a scenic course past McKinney homes for sale. It's followed by the St. Patrick's Day Beer Walk, which is essentially a leisurely stroll and craft beer tasting through Downtown McKinney. 
  
  
• 2022 Saint Patrick's Day Run - 2401 University Dr, Fort Worth, TX 76107
  Get up bright and early for the Fort Worth Saint Patrick's Day Run on March 12! Check-in and packet pickup is at 6 am, followed by a 10k at 7:45, 1-Mile Fun Run at 7:50, and 5k run/walk at 8:00. It's a great way to start your day. The event begins at Trinity Park Pavilion #3, and the course includes a chance to see some amazing Fort Worth homes for sale.

There's always something fun and exciting happening in the Dallas-Fort Worth area. Contact us today to learn more about life in DFW and talk to our real estate agents about finding your dream home in Dallas, Fort Worth, and the surrounding areas. 

Like the rest of you, our real estate agents eagerly anticipate new and exciting culinary trends. Unsurprisingly, the DFW is on point with restaurants featuring Filipino cuisine, popcorn, robot service, and other 2022 trends predicted by The Takeout. 

• Inihaw Avenue - 4835 N. O'Connor Rd., Suite 106, Irving, TX 75062
  Inihaw Avenue takes its name from the Filipino term for grilling and barbecue, which is a cooking method near and dear to the hearts of people around Irving homes for sale. Signature dishes, such as grilled lemongrass chicken and crispy pork belly with shrimp paste, are cooked to order for maximum flavor and freshness. Save room for halo halo, the traditional Filipino dessert with crushed ice, fruit, flan, and ice cream. Hours are 11 a.m. - 7 p.m. Monday through Thursday and 11 a.m. - 8 p.m. Friday and Saturday.
  
  
• Kabayan Filipino Store & Cafe - 2305 S. State Hwy. 121, Lewisville, TX 75067
  Perhaps anticipating the interest in Filipino cuisine around Lewisville homes for sale, the Villaneuvas opened Kabayan Filipino Store & Cafe just over five years ago. The popular spot includes a cafeteria-style dining area, along with a market where you can pick up Filipino packaged food, frozen dishes, and meats by the pound to enjoy at home. Weekends feature karaoke and live music. Kabayan is open 10 a.m. - 7 p.m. Tuesday through Saturday and 10 a.m. - 3 p.m. Sunday.
  
  
• Doc Popcorn - Dallas Farmers Market, 920 S. Harwood St. #179, Dallas, TX 75201
  Healthy popcorn? Yes, it's possible. Doc Popcorn is made with non-GMO kernels and popped with 100 percent pure corn oil. Everything is natural, with no artificial coloring, flavors, or sweeteners. Choose from sweet or savory flavors such as pizza, caramel apple, and cookies 'n' cream. Can't decide? Go for a combo like the Denver mix, with triple white cheddar and caramel bliss. Hours are 11 a.m. - 7 p.m. daily except Wednesday and Friday when hours are extended to 8 p.m.
  
  
• The Poppin Shop - 900 S. Main St. #335, Keller, TX 76248
  You might think that 30+ flavors of gourmet popcorn would be enough to satisfy anyone's snack craving. But The Poppin Shop, located just minutes from Keller homes for sale, ups the ante with a wide assortment of fudge and candy to indulge your sweet tooth. Popcorn sizes run from the single-serving goodie bag to the 20-gallon bag that holds 100 servings. The shop also offers a variety of colorful tins, from one gallon to 6.5 gallons, for convenient gift-giving. Hours are 11 a.m. - 6 p.m. weekdays, 10 a.m. - 5 p.m. Saturday, and 10 a.m. - 4 p.m. Sunday.
  
  
• Starship Deliveries - University of Texas at Dallas, 800 W. Campbell Rd., Richardson, TX 75080
  If your family has a student at UT Dallas, right down the street from Richardson homes for sale, chances are they've had coffee or sandwiches delivered by a robot. Starship Deliveries has a "staff" of 30 robots that travel 4 MPH and carry up to 20 pounds. Orders are placed through the service's mobile app, which accepts payment by credit or debit cards. Vendors currently participating include Papa John's, Panda Express, and Einstein Bros. Bagels. 

We may like food, but we love Dallas homes for sale even more. Whether you're buying or selling, contact us at RE/MAX DFW Associates to learn more.