Dallas Real Estate Market Trends 2024
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2024 Dallas Real Estate Market Trends
In 2024 real estate investors can find a silver lining after a year dominated by soaring interest rates and record home prices. The gradual decline in interest rates offers investors increased maneuverability within their financial plans, presenting potential opportunities for property acquisitions.
Dallas Snapshot
Realtor.com reports the Dallas housing market has experienced fluctuating average house values selling after an average 39 days on the market, with a median of $479k in April 2024, higher than the previous year’s median of $449k. The value per square foot also increased to $262 from $260 in May 2023. With a 100% sale-to-list price ratio the market remains dynamic, with the number of homes listed for sale decreasing from 2,952 to 1,998, indicating a tightening inventory.
April 2024 Market Update
Tune in and stay up to date with the current real estate investment market.
We will be led by Catalyst Funding’s industry experts, CEO Wade Comeaux and our Director of Lending, Jeff Johnson.
Let’s dive into:
- National and Texas leading indicators
- Recent numbers for San Antonio, Houston, Dallas, and Austin
- Lending Updates and Today’s rates
Top Growing Cities in the U.S.
Dallas’ population growth is a key factor driving its stable housing market. The city has seen the highest influx of new residents in the country, more than doubling that of any other major metro area. Texas boasts four of the top ten cities for population growth, contributing to a robust real estate market. Over the past two years, the significant number of people moving to Dallas indicates a healthy influx, underpinning strong demand and housing stability.
“Fueled by a robust economy, business-friendly environment, and growing population, the Lone Star State continues to attract eager investors.”
Renting vs Homeownership Trends
With Texas offering down payments of $18k compared to other states due to its competitive housing market, robust job opportunities, and higher average incomes. The state offers a high quality of life with ample amenities, entertainment options, and spacious living environments, especially in major cities like Dallas. Unlike surrounding states such as Oklahoma, New Mexico, and Kansas, Texas provides better value for the same down payment, offering strong economic prospects and a good education system. Compared to California, Florida, or the East Coast, where down payments can be 2-4 times higher, Texas delivers excellent returns on a modest investment.
Commercial Projections in Texas
Looking forward to 2024, the Texas commercial real estate market is set for steady growth in office, retail, and industrial properties. Multifamily housing also remains an attractive option with shifting preferences.
To thrive in the dynamic Texas market, investors must conduct thorough research, collaborate with local experts, diversify portfolios, and stay updated on market trends.
As we anticipate the opportunities in the Texas real estate market for 2024, remember that Catalyst Funding stands ready to support your investment journey. With our deep roots in real estate lending and extensive experience in thousands of transactions, we offer tailored products and services to meet the unique needs of both seasoned investors and first-time flippers alike.
Contact Us today to talk about your next real estate investment opportunity in the profitable Texas market.
Article References
- https://www.recenter.tamu.edu/articles/tierra-grande/2024-Texas-Real-Estate-Forecast-2407
- https://www.mymetrotex.com/market-reports/
- https://www.har.com/dallas/realestate/pricetrends
- https://www.nar.realtor/newsroom/in-the-news/austin-dallas-fort-worth-seen-as-nations-top-two-home-markets-in-2024-houston-no-6-the-dallas
- https://www.realtor.com/realestateandhomes-search/Dallas_TX/overview
- https://www.realtytrac.com/resources/dallas-housing-values-climb-despite-market-volatility-april-2024-snapshot-reveals/
- https://www.visualcapitalist.com/cp/median-down-payment-for-a-house-by-state/
San Antonio Real Estate Market 2024
San Antonio, Texas features top neighborhoods like Stone Oak, Vance Jackson, and Denver Heights. The city has 179 neighborhoods priced from $1,600 to $15 million. As of May 2024, the median home listing price was $301,000, with homes selling for an average of 1.68% above asking.
Dallas Real Estate Market 2024
The Dallas real estate market in 2024 continues to stand out as a beacon of opportunity for investors and homebuyers alike. With a robust economy and steady population growth, Dallas offers a dynamic environment for real estate investment. Get monthly updates to the Dallas real estate market here!
Houston Real Estate Market 2024
The promising investment landscape in Houston’s real estate market for 2024 is driven by population growth, a diverse economy, and affordable living costs. The increasing demand for both rental properties and homes for sale, offers lucrative opportunities for investors. Insights from industry professionals indicate a positive start for the year, with notable increases in single-family home sales and activity across different price segments, showcasing a balanced and active market. Get monthly updates to the Houston real estate market here!
Texas Real Estate Market 2024
In 2024, Texas presents a promising landscape for real estate investors, boasting a vibrant commercial and residential market. Fueled by a robust economy, business-friendly environment, and growing population, the Lone Star State continues to attract eager investors.