North Texas’ home price gains continue to rise above the national average. The newest S&P Case-Shiller Home Price Index report shows Dallas prices up 25% from November 2020, surpassing the 18.8% average across the country. Expected increases in mortgage interest rates are expected to slow sales in 2022, but continued low inventory may keep prices at record levels. Less than 8,000 single-family homes were listed with area real estate agents at the end of the year. Dallas-area home prices have more than doubled in the past decade and the median single-family home sales price was $353,000 at the close of 2021. The country’s greatest annual price increases were in Phoenix at 32.2%, Tampa at 29%, and Miami at 26.6%.
Want to make a deal? Then you’re in the right place. North Texas topped the country in investment property transactions in 2021—to the tune of nearly $47 billion. That was double from the previous year when DFW led the country for the first time, according to a report from Real Capital Analytics. Leading the way in area mega-deals last year was the Crescent property in Uptown, which sold for $670 million in one of the Top 10 sales in the country. Dallas also was the leading apartment investment market at $28 billion in sales. Not to be left behind, warehouse activity was up 72% in 2021 over 2020. The Atlanta region came in second at around $37 billion in investment property transactions.
Dallas developer Trammell Crow Co is building a $60 million rental community in Plano. The Legacy Square community, a project of the company’s High Street Residential and Principal Real Estate Investors, will be built at the corner of Legacy Drive and Custer Road, west of U.S. 75. The property current is a parking lot previously owned by a church. Legacy Square, the latest project from High Street, will include a combination of 363 townhouses and apartments. It will open sometime next year.