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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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Expert Advice: How Would You Characterize the Spring Market?

July 17th, 2014 | by Michelle
sold sign with moving boxes - shutterstock_196324397

Photo / Shutterstock

The Spring Market across the Dallas-Fort Worth region brought more of what buyers and sellers have been facing for more than a year now: steadily increasing home prices, multiple offers on well-priced homes in good condition, and a low inventory of homes for sale in key neighborhoods and at popular price points.

And it sure was busy … which has us asking – did the Spring Market ever really end this year? We talked about the Spring Market with some expert Realtors at Briggs Freeman Sotheby’s International Realty, and this is what we heard:

A: We’re looking at a very robust market with multiple offers on many listings, and that’s been going on since January. It can be a challenge for both the buyer and the seller. Right now, the approach has to be to remain calm. We have to work double time to get the listings and complete the sales we did a year ago. I don’t see that changing for the Fall Market. I don’t expect much of a slowdown at all.

A: The 2014 real estate market in Dallas has been so busy, I think the Spring Market might have been mislabeled – it really started in January. But we knew the low inventory of homes on the market and high demand for properties in Dallas’ most popular neighborhoods were going to make for a high-paced spring. It is shaping up to be a round-the-calendar market in Dallas this year. Spring, summer, fall, winter – it doesn’t seem to matter. It’s just busy.

A: Things were flying off the market. And it was different from last year, when much of the market was hip-pocket or private sales. People were testing the market then; today, there’s more confidence. Things haven’t slowed down much for summer, especially in the suburbs and the Park Cities, where buyers are still looking for $1 million-$2 million homes. We see more growth for the fall, with existing clients moving up and new relocation clients moving in.

A: It was a very fast-moving three to four months. You had to be on top of every new lead to find new properties and to sell properties. We were moving through product so quickly that, if you weren’t on top of it, you were missing opportunities left and right. In a market like that, buyers and sellers need someone who is aware of every option. With the summer heat, the market has slowed down a little bit – but not much.

Click here to see the latest in real estate news. CEO Robbie Briggs independently owns and operates Briggs Freeman Sotheby’s International Realty with six offices in Dallas, Uptown, Lakewood, Ranch and Land, The Ballpark and Southlake.

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