The 2021 Dallas Real Estate Market
Happy New Year! You're probably just as excited as we are to move on from the unpredictable and uncertain year that 2020 was. However, with everything that went on, life still went on. The Dallas housing market was shakey at the beginning of the pandemic but it really picked up once people realized that their home was now their #1 destination. On top of that, real estate wasn't considered an essential business, and then it was. More people working from home, a shorter commute and a desire for a bigger space fueled Dallas Real Estate in the end, even though many decided not to sell as planned.
According to an article in D Magazine, "By June, six out of every 10 houses on the market received multiple offers. Only Boston had a more competitive market that month. As demand here surged, supply ebbed. Many homeowners understandably decided not to sell during the pandemic. So in June, according to MetroTex, there were 20 percent fewer homes on the market than had been available in June 2019. Still, total sales were up 16 percent that same month, and prices rose 2 percent across the Dallas area."
Staged by Staging Dallas. Photo by Lance Selgo/Unique Exposure Photography
So, with that whirlwind of a year, what can we expect in 2021?
Though we can't say for certain, Realtor.com named its predictions for the top real estate markets in 2021. The DFW market ranked #22 out of 100 markets in the United States with 15.7% combined growth in 2021 compared to 2020. If you think that's quite a jump, you're not wrong. DFW is the highest-ranking metro area out of the state's four top metros.
Overall, with less inventory and more buyers, it's going to be a seller's market yet again. What does this mean for you as a seller? Although the market is in your favor, it's important to make sure your listing stands out from the rest online. You can still sell your home faster and for more money with quality photography and home staging. Contact us for more information or for a consultation!