If there’s just one piece of guidance Alex Perry, the top real estate agent in Dallas, could offer today’s home buyers and sellers, it’s this: The national headlines about a gloomy real estate market don’t apply in Dallas.
“The national news is down on real estate right now,” said Perry, who remains the No. 1 agent in Dallas, according to The Wall Street Journal/RealTrends rankings and Multiple Listing Service statistics. “Global and national conditions don’t always apply here. The Dallas market is strong.”
While Dallas experienced solid price appreciation over the past three years, there’s room to grow. For example, in some pockets of Austin, prices surged 100% during the pandemic buying frenzy, he said. In similar Dallas neighborhoods, prices increased by 60%.
That’s still a great showing, but it means homesellers in Dallas-Fort Worth aren’t likely to face the price cuts being seen in other U.S. markets.
Perry, who has been Dallas’ lead real estate producer for three years, said that no matter the market, if you’re a good adviser, you can deliver for your clients.
“Detailed market analysis, where every block and street in every neighborhood matters, is vital,” said Perry, who was able to close more than $300 million in 2022, even with its ups and downs.
So far in 2023, the market for out-of-town buyers is growing and Perry expects it to pick up as parents seek to settle their families in the preferred school zone for their children.
He even said Dallas might see more of a normal spring market and then a return to the homebuying season that existed pre-pandemic.
What also has changed is buyer attitudes. With so much competition for homes during the pandemic, buyers often resorted to “panic purchasing.” Now buyers are putting more deliberation into the home search and passing on homes that are less than perfect for them. They know something else will come along.
Whether you’re a buyer or a seller, working with an experienced agent will be the key to success in 2023, said Perry. Having someone on your side who is focused on solving problems will make the process even more seamless.
“Buyers and seller look to you to guide them on issues that come up in every deal, working through inspection items, financing issues and all the problems that can come up in a transaction,” said Perry. “Your job as an agent is to fix them and get the deal done.”
The National Association of Realtors has named Dallas one of the top three markets to watch for growth in 2023.
“The Dallas market will be stronger in five to 10 years than what it is now,” said Perry. “It’s still a solid investment.”
Read Nore:Dallas’ No. 1 agent offers 2023 real estate market outlook