Knock launched our Home Trade-In program in the Lonestar State in September of 2018; we currently serve the greater Dallas and Fort Worth areas of Texas. With a housing market that has remained consistently healthy over time and an increase in employment opportunities attracting new residents, Dallas was high on Knock’s bucket list. We’re excited to now offer our Home Trade-In there, making it possible for residents to sell their old home and buy their next one simultaneously, with the ease and convenience that comes with Knock’s unique approach to real estate. In this blog, we’ll explore the housing landscape and living in Dallas-Fort Worth and its greater metro area – everything that makes it an incredible place for Knock and its customers to call home.
The city of Dallas is booming, especially in recent times; it’s on the list of the fastest growing cities in the US, as well as Inc.’s fastest growing cities with job opportunities. There are endless employment options in the greater Dallas metro, which is home to the headquarters of large companies like American Airlines, ExxonMobil, AT&T, and Fossil. And although people, especially young professionals, are migrating to the area in the pursuit of upward career paths, jobs are not the only reason to move there.
Dallas is the third most populous metro in Texas, after Houston and San Antonio. Its residents have true city pride, with fans flocking to Dallas Cowboy and Mavericks games. Dallas and its surrounding areas also give people a mixture of city and suburb. You can hit the House of Blues in the city or attend a football game under your town’s Friday night lights; it truly is a place that has it all.
The weather in Dallas is also pretty great all year round, if you can handle some heat, with winter lows staying mild around 47 degrees and summer highs reaching the 90s. The humid subtropical climate isn’t for everyone, but is attractive to those who favor warmer temperatures.
The Real Estate Market
Dallas has something for every taste, even when it comes to housing. If you’re tempted to keep it trendy, you’ll find yourself in the heart of downtown Dallas where you can purchase a townhome or condo with common amenities, like a pool to cool down in during those hot mid-July temps. High-rise buildings are aplenty in the heart of the city.
If you have your eye on a more suburban neighborhood, there’s an abundance of single-family homes to choose from. The size and layout is up to you, as the greater Dallas area has many diverse options, from one story ranches to statuesque mansions.
Current Market Trends
Just like its summer climate, Dallas’ real estate market is hot. Housing costs are higher than the national average of $227,000; in Dallas, the average home will cost you around $248,000. The average home value, however, is closer to $214,000; home values have risen over 14% in the last year alone and are predicted to continue trending upward.
At the end of 2018, Dallas had a great supply of homes available, and this inventory surplus is good news for buyers in the area. Dallas also tops the list of new home construction for 2019, which means a custom home is a real possibility if you want to take that route.
For those looking to score a deal, you might be in luck. Around 70% of homes sold at a discount in Dallas in Q1 2019, according to our Knock Deals Forecast. For Q2, we predict that number will rise to almost 76%. Again, this makes it a desirable time for buyers to consider making a move within the region.
A Neighborhood Guide
Because of the Dallas metro area’s vast options when it comes to housing, we’re highlighting some of the best neighborhoods to choose from. Whether you’re a city slicker or enjoy the quieter life away from downtown, we cover it all in our neighborhood guide. Along the way, we’ll give you insights and trends from our Dallas Knockstars who know the city like the back of their hand!
Dallas, located in northern Texas, is the ninth most populous city in the US. A flatland with a hot year-round climate, the city is known for its barbecue and Tex-Mex cuisines, thriving art scene, and major league sports teams. The city is sometimes defined by its subsections, including Central, East, and South, which are areas well-known to locals. Recognized as the largest contiguous arts district in the United States, there is no shortage of museums and performing arts centers, and the arts and culture scene thrives no matter what section of the city you’re in.
Defense, financial services, and information technology are some of the largest job sectors, and there are over 40 colleges and universities throughout the metropolitan area. A great mixture of culture and industrialism, Dallas is a hub for plenty of people both inside the metro and on the outskirts.
Fort Worth is part of the greater Dallas Fort Worth (DFW) area. In history, it was used as an army outpost as well as a hub for longhorn cattle trade. Its Western heritage and traditional architecture are still apparent today. The city is home to world-class museums, boasting acclaimed institutions like The Kimbell Art Museum and Amon Carter Museum of American Art. Several universities are located in Fort Worth, such as Texas Christian University and Texas A&M School of Law. Large corporations call it home as well, including Pier 1 Imports and Lockheed Martin. Living up to its name as the “City of Cowboys and Culture,” you can visit the largest indoor rodeo, attend a number of festivals, and take advantage of the eclectic dining scene. Plus, with different neighborhoods, including The Stockyards and Upper West Side, you can choose whether you want to live in a suburban area or active downtown.
Knockstar Dani Bunch notes,
“Fort Worth is a fast growing community. It has everything you can expect from a fairly large city – great shops, live music, wide variety of amazing restaurants, festivals, excellent museums – and it still has a small town feel. When looking for homes, Fort Worth has older neighborhoods with larger yards to condos downtown, so it has a little bit of everything to offer!”
Twenty miles west of downtown Dallas lies Arlington, TX. Home of the Texas Rangers baseball team and AT&T Stadium where the Cowboys play, Arlington is a hub for sports. Six Flags amusement park provides entertainment and fun for the entire family, while the Arlington Museum of Art and Parks Mall prove there is an activity for any taste. The University of Texas in Arlington is also located there, as well as plenty of public schools for kids of any age. Arlington has a suburban hometown feel, with plenty of options for purchasing a home in the area.
Knockstar Richard Wade said,
“Arlington is the entertainment capital of Texas with the Dallas Cowboys & Texas Rangers playing there, plus Six Flags Over Texas amusement park & Six Flags Hurricane Harbor water park.”
Located 25 minutes north of Dallas is the suburb of Frisco. A perfect place for sports and recreation lovers, Frisco has plenty of sports venues and professional leagues. In fact, the Dallas Cowboys’ practice center now lives there. Dubbed as Sports City USA, you can stay in shape at the Frisco Athletic Center or catch a game at Dr. Pepper Ballpark. If sports aren’t your thing, don’t fear, there are plenty of other things to do in town, from the Texas Sculpture Garden to the National Videogame Museum. Dining options are aplenty, and you can find shopping centers at Preston Ridge and Frisco Square. As a suburb of Dallas, Frisco is ranked #1 as the best place to buy a house in the Dallas-Fort Worth area, and even gets an A+ grade from Niche. Frisco was also named the Best Place to Live in America in 2018. If you’re looking for a great place to live just outside of the big city, Frisco could be the spot for you.
Knockstar Brandon Eichten calls Frisco home;
“Frisco was the fastest growing city in the US in 2017. Frisco attracts business, startups, and sports enthusiasts alike! There really is never any reason to leave Frisco with all of the shopping, restaurants, entertainment, and commercial establishments. Live, work, and play is the idea behind Frisco and all of its long-term growth plans. Come visit and you will definitely fall in love just like so many fellow citizens!”
Northwest of Dallas lies Flower Mound, a cozy town with a tight-knit feel. Many residents are employed by the local school district, Lewisville Independent. The town is also close to the DFW International Airport, making it a great location for those who love to travel; companies like Best Buy and Stryker Communications recently moved some operations to Flower Mound due to its convenient location, creating nearby job opportunities for those who call Flower Mound home. The neighborhoods in Flower Mound are sought after, and the town’s community center offers residents a place to swim and work out. Beautiful single family residences and even condos and townhomes exist here, giving you the option to choose.
Keller, TX is a residential town with access to plenty of parks, hiking, and bike trails. Perfect for a family looking to establish hometown roots but still be in close proximity to the city, Keller gives its residents a community feel. Business districts, Old Town Keller and Keller Town Center, are home to merchants of all sorts and places to eat, drink, and be entertained. Catch a movie, have a spa day, or go grocery shopping all within the town’s limits. Homes range from small single families to large upgraded mansions, so you’ll be able to find just the place you’re looking for.
Knockstar Chris Menegay said,
“Keller is such a wonderful community to find your next home. The schools are some of the most sought after in DFW. From first time starter homes to luxury estates, you can find what suits your needs. There are also great city amenities like the Keller Pointe for recreation including a water park, and Bear Creek Park for everything outdoors. Not to mention the Alliance Town Center, with every type of restaurant and entertainment you can imagine!”
The Dallas Fort-Worth area is Knock’s fifth market, and is a great place for many different people, whether you’re a young professional exploring the city or a family looking to settle down. If you choose the downtown lifestyle or a more laid-back life in the suburbs, there is a place for you to call home in the greater DFW area. Whether you’re already living in Dallas-Fort Worth or are looking to move from another Knock market, like Charlotte or Atlanta, we can help you trade-in your house for the DFW dwelling you’re dreaming of.