The Five Hottest Communities In DFW
(Statistics shown are from the first half of 2013, the latest available, courtesy of Real Estate Center at Texas Aamp;M University; North Texas Real Estate Information Systems)
1. FRISCO
Though it is typically a long commute to Dallas via the North Dallas Tollway, most area residents..including its immediate neighbor Little Elm to the West, gladly accept the trade-off: Spending up to 2 hours commuting daily in the car in exchange for the higher quality of life, including top notch education, low crime rate, and plenty of things for the family to do. The Texas Rangers AA affiliate, The Texas RoughRiders, and their exquisite Minor League Park, Dr. Pepper Stadium, is a prime example.
With only 2 months inventory of homes (The time it would theoretically take to run out of the existing homes for sale if new homes stopped being built. Six months of inventory is about the average in a stable market), and only 45 days on the market before the average home is sold, Frisco is a prime example that the Construction and Real Estate markets are booming right now, and nearly back to 2008 levels, before the housing bust. Over 2,000 new home sales, up 25 from 2012 and an average selling price of $279,000 up 8, Frisco is booming.
2. Arlington
With the Dallas Cowboys and Texas Rangers as prime attractions, as well as Six Flags and Lone Star Park, there is something for just about everybody in Arlington. Located halfway between Dallas and Ft. Worth, this gives Arlington residents a perfect spot from which to enjoy either of their big-city neighbors, should they ever grow weary of the myriad local attractions. With over 2,300 new home sales...up 21... and a very affordable average home price of $130,000...up 6...Arlington shows no signs of a slowdown in the new home sales arena. The average days to market is 53, with a 2.5 month inventory.
3. Flower Mound
According to the FBIs annual report on crime in the United States, Flower Mound was awarded these national rankings, in their respective population categories:
1. Second lowest overall crime rate2. Fourth lowest property crime rate 3. Fifth lowest total reported crime rate
Flower Mounds rankings within the state of Texas are even more glittering:
1. Lowest overall crime rate 2. Lowest property crime rate 3. Lowest total reported crime 4. Lowest violent crime rate
Being extremely close to Grapevine Lake, north of DFW Airport, and scant miles from Lake Lewisville, Flower Mound residents can enjoy not only the attractions nearby in Arlington, but an easy commute to Dallas, and a super safe place to raise kids, which is a huge concern for many residents in the Metroplex.
Combined with its neighbor Lewisville, Flower Mound showed a 15 increase in new home sales to over 2,100, and a 9 increase in home values, to over $300,000. The average days to market for new homes is 47, with a 2.1 month inventory.
4. PLANO
Plano showed nearly 1,900 new home sales in the first half of 2013, up 24, with an average price of $250,000, up 9. With 45 days to market and a 1.7 month inventory, Plano offers the shortest commute to Dallas on our list, and is well within driving distance to just about all the major attractions North Texas has to offer.
5. MCKINNEY
McKinney rounds out our list of the 5 hottest communities in the DFW area. With over 1,350 new home sales, up 21, and a 12 increase in average home value to $218,000, McKinney offers a longer commute to Dallas, if that is where you work, but the advantages of more space, less crime, and better schools make the commute worthwhile.
McKinney offers an historic downtown area, as well as numerous parks, hiking trails, and ponds. A superb, booming town that stays close to its roots, McKinney is close enough to anywhere in North Texas to enjoy. With a 1.7 month new home inventory and 42 average days to market, McKinney offers fantastic advantages while remaining true to itself.