Condo Sales Skyrocket in Dallas

Posted by Emily Ray-Porter Group on Thursday, December 5th, 2013 at 1:42pm.

Sales in Dallas have leaped up 38 percent this year in Dallas showing the demand for urban living is strong and growing.  From January to September of 2013, 4,468 condos were sold in Dallas.  The price has also increased 10 percent from last year with the median price at $153,000 for a condo.  The number of listings has also increased 10 percent, yet active listings decreased 26 percent.  According to The Numbers Report Dallas has the second best economy in the Numbers Report.  The Numbers Report takes 15 unique indicators and factors of large markets with populations above 500,000 in 102 major cities to rank economic strength.  Dallas also lead the way in the US for job employment at 3.1 percent up in October 2013 when compared with October 2012.  According to the US Census Bureau,  the population of Dallas was increasing at a steady predictable pace since 1990 until 2010 when the population decreased 900,000. Since then, the population has been increasing at nearly 200,000 per year.  With a vibrant downtown and economic opportunities, new people are moving to Dallas and investing in the strong real estate market.  Many of these individuals don’t have a need for a single family home and instead opt for the downtown high-rise lifestyle which has been contributing to the increase in condo sales we have seen for the last few years.  Buyers have more choices for luxury condos such as the Museum Tower Condos in the downtown arts district which provides private elevators, floor to ceiling glass, spectacular views, gourmet kitchens, Miele appliances, marble baths, private terrace, pool, spa, fitness center, guest suites and other amenities.  In fact, most condos being built across the United States are focused on creating deluxe common areas for the buyers to enjoy.  

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