We keep our ears to the ground and our Jimmy Choos burning up the pavement to stay ahead of the market. And even though it’s difficult, we make it look good! But it’s what we do, and it’s not easy, so when we can have the trends and hot news delivered right to us, we grab our cold foam espresso and take it all in.
Abd that’s exactly what one of Dallas’ top luxury real estate brokerages has done!
Luxury Outlook
Wondering what’s next in luxury living? Now you’ll know — thanks to the report that puts it all in perspective on a global scale. It is exclusively from Sotheby’s International Realty and it is called Luxury Outlook, a unique, annual report on trends, buyers, second homes, hot spots and more. It is loaded with information and inspiration.
Below are just a few of the stories I think you’ll love from the 2023 issue. (But come read it all, anytime. Here is the table of contents for the whole report.)
• The hot new amenity for a neighborhood: Check the story, here.
• How the market is easing back in favor of the buyer: Read all about it, here.
• What luxury perks are trending in over-the-top homes: The full story is here.
• Why property still reigns when it comes to inheriting: Click here.
Market Moves
Now, here at home in North Texas, Briggs Freeman Sotheby’s International Realty puts it all in perspective every quarter in its longtime and popular Market Moves reports. These are loaded with information, too, especially for five key counties: Dallas, Tarrant, Denton, Collin, and Rockwall. The stats are valuable for owners, buyers and sellers, including median home prices, the average number of days homes were on the market, and more. Knowing what’s happening in your area could save you — or make you — a notable amount of money.
Here are some eye-openers from the latest Market Moves, which crunches the numbers for the fourth quarter of 2022 and offers an analysis of the whole year.
- In North Texas, the luxury market is quite healthy. For Dallas County, the sales volume of homes was $10 billion in 2022 — up 26 percent from the same period in 2019, the last market we can consider normal. Tarrant County’s total 2022 sales are also $10 billion, a 28 percent increase. Median selling prices have risen significantly, too: Dallas County’s is up 47 percent from 2019 and Tarrant County’s is up 48 percent. In popular Collin County, total 2022 sales were $8.2 billion, up 34 percent from 2019, with a jump in the median selling price of 57 percent.
- North Texas continues to attract new residents, as it had long before the pandemic. In fact, demographers project that North Texas will grow to 10 million people sometime in the 2030s, surpassing Chicago to become America’s third-largest metro area.
- “We see reasons for optimism heading into this new year,” said brokerage CEO Robbie Briggs and president Russ Anderson in their information-packed letter that is part of every Market Moves report. “At the moment, the number of available homes in North Texas remains low,” they say, “so homeowners thinking of selling can still benefit greatly from the unique supply-and-demand dynamics currently at play.”
Even Mark Twain makes an appearance in the new Market Moves — but I’ll leave that as a cliffhanger. Come learn what’s happening in your neck of North Texas at briggsfreeman.com/market-moves.
This post is sponsored by Briggs Freeman Sotheby’s International Realty. Visit the daltxrealestate.com Advertising and Media Kit to find out how to sponsor your own listing.
