Is the Housing Market in North Dallas Hot or What? Check out Prestwyck in McKinney!
Posted on September 29, 2015 by Your Connection to the North Dallas Real Estate Market
As Real Estate agents in the North Dallas area we are asked daily, “How’s the market?” This morning I woke up to an incredible news story on NBCDFW. In McKinney, Texas, about 30 miles north of Dallas, approximately a dozen families camped out over night to be the first families to purchase lots where they hope to build their future homes in a community named Prestwyck. This is truthfully an unknown phenomena in North Dallas. The developer expects the lots to sell out in 24 hours.
We moved to Texas, January 1, 2006. We can not remember a time where the housing market was this hot. We left the crazy Southern California housing market at the end of 2005 in search of a better education for our kids (at the time ages 3 and 7), more affordable housing, more integrated communities and a well-educated workforce.
2015 totals show North Texas real estate market is near an all-time high
Recession? What recession?
As 2015 winds down, real estate activity in North Texas is near an all-time high.
Looking at the latest statistics, there’s almost no sign that the Great Recession ever happened.
You couldn’t say that five years ago when the market was coming out of the economic crash.
While Dallas-Fort Worth fared much better than most U.S. urban markets, the housing crash and financial sector shakedown were certainly felt in these parts.
That’s easy to forget in these halcyon days of Toyota, soaring job gains and rocketing real estate values.
Remember back in 2009, when local home foreclosures were jumping and commercial property projects were getting put on hold? Those days are long past.
The 2015 snapshot of D-FW’s real estate market takes things to a new level.
evelopers who are redoing downtown Dallas’ landmark Statler Hotel have spent time in China courting investors.
“I’ve already made three trips to China,” said Frank Zaccanelli, a partner with Centurion American Development Group. “They are very interested in what’s going on in Dallas.”
Centurion American, which also has suburban home and commercial projects in the works in North Texas, isn’t the only local real estate firm with an appetite for Chinese investment.
Chinese money has funded recent downtown Dallas tower sales.