Dallas Real Estate Market Finds Better Footing at End of 2014 than 2013

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Berkshire Hathaway HomeServices PenFed Realty Texas reports that the Dallas housing market had a great year in 2014 and it is expected to have an even better year in 2015.

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More homes are being built, more companies are transferring to the Dallas-Fort Worth area and this community’s desirability is becoming more widely known.

The Dallas real estate market had a banner year in 2014, which has helped to propel conditions into a much better place at the end of the year than they were at the start. Berkshire Hathaway HomeServices PenFed Realty Texas reports that the city had a successful year with significant increases in median home values and it’s one of the top markets to watch in 2015.

According to a December 4 report on REALTOR.com, Dallas was named within the top 10 markets to watch in 2015 for its household growth and volume of home sales. Home construction is expected to increase helping to ease the crunch of available homes, which was a factor that slowed the market in 2014. With it’s fairly affordable housing market and prosperous employment market, Dallas is sure to continue to attract home buyers.

Going into the start of the year, the amount of available homes is around the same as of December 12 as it was at the end of December 2013, according to Altos Research, a California-based real estate analytics company. As of December 12 there were about 2,227 available properties in Dallas and there were just slightly more on the market around the same time last year.

One big shift year-over-year was the median single-family home value, which increased from about $325,000 in 2013 to $378,133 in 2014. This figure has flatlined in the past few months since October after the major demand for homes in the area began to dip as the market cooled.

“I expect the real estate market in Dallas to continue to succeed, and likely do even better in 2015. More homes are being built, more companies are transferring to the Dallas-Fort Worth area and this community’s desirability is becoming more widely known,” says DD Flynn VP of Marketing at Berkshire Hathaway HomeServices PenFed Realty Texas. “I’m really excited to see what’s in store for this region of Texas in the next 12 months.”

Click here for a 60-second Dallas home market update.

About PenFed Realty , LLC    
PenFed Realty, LLC, wholly owned by PenFed (Pentagon Federal Credit Union), is a full-service real estate company with an annual sales volume over $2.8 billion; serving PenFed members as well as the general public. Over 1,700 top-notch sales professionals work out of PenFed Realty’s 50+ offices to provide complete real estate services nationwide.

PenFed Realty is an independently owned and operated franchisee of BHH Affiliates, LLC. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of HomeServices of America, Inc.

About Berkshire Hathaway HomeServices
Berkshire Hathaway HomeServices, based in Irvine, CA, is a real estate brokerage network built for a new era in residential real estate. The network, among the few organizations entrusted to use the world-renowned Berkshire Hathaway name, brings to the real estate market a definitive mark of trust, integrity, stability and longevity. Berkshire Hathaway HomeServices in early 2014 was named “Real Estate Agency Brand of the Year” by consumers in the 26th annual Harris Poll EquiTrend® study of the largest real estate networks.

Irvine, CA-based HSF Affiliates LLC operates Berkshire Hathaway HomeServices, Prudential Real Estate and Real Living Real Estate franchise networks. The company is a joint venture of which HomeServices of America, Inc., the nation’s second-largest, full-service residential brokerage firm, is a majority owner. HomeServices of America is an affiliate of world-renowned Berkshire Hathaway Inc.

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Kim Manning
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