Robbie Briggs, president and CEO, of Briggs Freeman Sotheby’s International Realty, recently released the following report.
“Everywhere you turn it seems people are talking about North Texas. Recently I’ve read reports appearing in publications from The Wall Street Journal to local business presses, all predicting continued economic growth through 2015 and beyond.
“The strong economy in North Texas is bringing business to our area, and with that comes opportunity. Major corporations such as Toyota are moving here and bringing thousands of new people to our area. A recent discussion at a Dallas Regional Chamber meeting focused on how Toyota’s move was inspiring other corporations seeking relocation options to seriously consider the opportunities available in North Texas.
“Expansion at DFW Airport and Love Field are making it easier to conduct business and attract visitors throughout the Southwest and beyond. Arts, sports and entertainment venues are being built, schools are under construction, and Dallas is on track to be the second busiest homebuilding market in the U.S. in 2015.
“In 2014 home prices in the area were up 7 percent, partly due to the increase in demand for the $1 million and above market. Buyers who have been sitting on the sidelines have recognized that the market is right for investing in real estate. This renewed interest is putting upward pressure on prices. However, the overall pace of sales has slowed due to inventories levels that are the lowest in decades.
“Despite the slowdown, homes listed for sale in our area are not staying on the market for long. In some neighborhoods homes are selling after just 30-40 days on market.
“Wherever you look, it’s a great time to live, work and play in DFW.
“There’s so much to look forward to in 2015. We wish you great tidings in the New Year,” Briggs said.