We have more great news (this is starting to become a theme!) for those interested in buying a home in Dallas, Frisco, or the surrounding areas. According to a recent report, the Dallas-area real estate market is on fire and there is absolutely no sign of that slowing down anytime soon. There are numerous facts and statistics that prove this point – from the shockingly low home prices to the time (or lack thereof) homes are spending on the market. With more than 30,000 homes slated for construction in the next year in Dallas alone, we expect to see the real estate market throughout North Texas continue to thrive. Furthermore, the Frisco Chamber of Commerce recently put out some interesting statistics that highlight just how popular Frisco has gotten in recent years.
With more and more housing communities coming to the area – such as Hollyhock by Newland Communities that we told you about a couple of weeks ago – and developments like Frisco Station underway, we only expect the area to grow and prosper.
Dallas by the Numbers
Let’s go over a few of the most interesting statistics and facts about the Dallas real estate market before we look at Frisco’s numbers:
- In January of 2016, the Dallas area ranked No. 3 nationally for home price gains, only behind Denver and San Francisco
- Approximately 30,000 new homes are expected to be built in Dallas alone this year
- This will make Dallas the No. 1 area in the Nation for single-family home construction
- Dallas’ unemployment rate is less than 4 percent
- The Dallas area is adding about 100,000 jobs per year, with more heading this way thanks to the construction of Toyota North America and other major corporate headquarters
These are just a few fun facts that show the type of advancements the Dallas area has made in recent years. While many real estate experts claimed that 2015 with the hottest year for Dallas real estate, it seems 2016 has already surpassed those numbers.
Frisco is the Place to Be
As many of you are already aware, Frisco is absolutely booming and people are moving to our beautiful city at a higher rate than ever before. This is due to numerous factors – from the great job market, quality of living, housing opportunities, and highly-ranked school districts. Let’s take a quick look at a few of the top stats from Frisco Chamber of Commerce:
- Frisco ISD is listed as No. 1 in a list of the fastest growing school districts in the state
- Over the next 5 years, Frisco ISD expects the number of students to increase by nearly 70,000
- Once completed, the $5B Mile could provide approximately 44,742 jobs
If you are interested in learning more about Frisco’s real estate market or would like to see what homes are on the market, please do not hesitate to contact The Cheney Group today.