Recently it was announced on Culture Map that North Texas comes out on top in regards to America’s best real estate markets, however the news wasn’t so good for our state’s capital, Austin, who has plunged to number 68 this year after sitting in the number five spot in 2016.
Overall, Texas dominates the U.S. in offering the most appealing real estate markets, which is based on several factors including economic health of residents in a city, home style and square footage in the area, historical market trends, and other key metrics which make up two rankings – affordability and economic environment, and real estate market.
Good news for our Dallas real estate professionals; Frisco comes in at number one in both “real estate market” and “affordability and economic environment.” Coming in right behind, in the number two and three spots respectively, are McKinney and Allen.
While larger cities come in farther down the list (for instance, Dallas sits at number 57), North Texas still prevails when it comes to breaking it all down by city size. Smaller cities with less than 150,000 residents hold the top three spots we mentioned above (Frisco, Allen, and Richardson). Of the cities with a population of between 150,000 and 300,000, McKinney sits in the top spot. Data was taken from WalletHub, gathered by analysts who compare key metrics in determining the best and worst real estate markets.
Of the top 10, another Texas city was also included – Carrollton, at number eight. Other factors in comparing the 300 cities in the study and how they ranked included job growth, home sales turnover rate, and median home-price appreciation.
With five out of the top 10 cities in Texas, and most of those in North Texas, it looks like our real estate market is still on fire!
Whether you’re looking for the perfect home in Flower Mound, Frisco, Ft. Worth, McKinney, Lantana, or any other city in North Texas, count on the Dallas real estate agents at Team Nelson to help make your dream a reality, without a long and stressful process.