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Update Dallas | A central hub for market and real estate news affecting the Dallas region.

A central hub for market and real estate news affecting the Dallas region.



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The Robbie Report: Watching the Real Estate Market Grow

June 27th, 2013 | by The Update
The Robbie Report - Watching the Real Estate Market Grow

The first part of 2013 has been another strong period for residential real estate in the Metroplex and across the U.S.

Locally, pending and closed sales are up, and inventory is down—20 percent lower than at this time last year. The healthy market is also bringing builders back into the game. We’ve seen a 25 percent increase in building permits, and completions are up more than 32 percent in our area.

Markets outside of the Metroplex are also responding to increased demand. New York City was recently ranked the number one real estate market in the world, taking the spot from London, according to the latest Knight Frank Report. The market is booming at the top end, with lack of inventory being the biggest issue.

In Miami/Dade County, the single family home market jumped 40 percent in the number of homes sold, while prices increased 7.5 percent in the first quarter. And in the Washington Metropolitan Area, homes are selling quickly with 33 percent of $1 million plus sales on the market for less than one month.

All this activity begs the question, “Why?” In our area, we can easily point to a favorable business climate that attracts companies and employees to our area.We can also attribute the appeal of the Metroplex to the many desirable neighborhoods, nationally-ranked schools, incredible new parks and museums and, by far, the friendliest communities around.

We’re proud to welcome newcomers to our neighborhoods, whether they’re from around the block or across the country.

Click here to read previous editions of The Robbie Report.

CEO Robbie Briggs independently owns and operates Briggs Freeman Sotheby’s International Realty. Briggs Freeman Sotheby’s International Realty is Dallas’ luxury real estate leader, with more than 190 agents in five offices located throughout the Metroplex and access to the global Sotheby’s network, including more than 11,000 agents in 600 offices worldwide. For more information on escapes and second homesranch and land, and luxury homes in the Dallas-Fort Worth region and beyond, go to briggsfreeman.com.

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