If there is only one orientation element Alex PerryDallas’ best realtor, could offer today’s home buyers and sellers is this: national headlines in a sluggish real estate market don’t apply to Dallas.
“The national news is down on real estate right now,” said Perry, who remains the No. 1 agent in Dallas, according to The Wall Street Journal/RealTrends rankings and statistics from the Multiple Listing Service. “Global and national conditions don’t always apply here. The Dallas market is strong.
While Dallas has seen solid price appreciation over the past three years, there is room to grow. For example, in some pockets of Austin, prices jumped 100% during the pandemic buying spree, he said. In similar Dallas neighborhoods, prices have risen 60%.
It’s still a strong performance, but it means home sellers in Dallas-Fort Worth are unlikely to face the price declines seen in other US markets.
Perry, who was Dallas’ top real estate producer for three years, said no matter the market, if you’re a good advisor, you can deliver for your clients.
“A detailed analysis of the market, where every block and every street in every neighborhood matters, is vital,” said Perry, who was able to close more than $300 million in 2022, even with its ups and downs.
So far in 2023, the out-of-town buyer market is growing, and Perry expects it to pick up as parents look to move their families to their children’s favorite school zone.
He even said Dallas could see more of a normal spring market and then a return to the home-buying season that existed before the pandemic.
What has also changed are buyer attitudes. With such competition for homes during the pandemic, buyers have often resorted to “panic buying.” Now buyers are thinking more about their home search and are passing on homes that aren’t perfect for them. They know something else is coming.
Whether you’re a buyer or a seller, working with an experienced agent will be key to success in 2023, Perry said. Having someone by your side who is focused on problem solving will make the process even more seamless.
“Buyers and sellers rely on you to guide them through issues that arise in every transaction, reviewing inspection items, financing issues and any issues that may arise during a transaction,” Perry said. . “Your job as an agent is to fix them and close the deal.”
The National Association of Realtors has named Dallas one of the top three markets to watch for growth in 2023.
“The Dallas market will be stronger in five to 10 years than it is now,” Perry said. “It’s still a solid investment.”