What’s trending in Dallas’ luxury home market, and how the pandemic has changed some buyers’ thinking
This year, Dallas houses will be banned from the market. In fact, the news reported that September home sales were 27% higher than the same month last year. The number is part of a steady surge in home sales during the COVID-19 pandemic, largely driven by low interest rates, Steve Brown reported.
Luxury real estate agents are well aware of the trend and see that the offers are moving fast.
Christy Berry, founding agent at Compass DFW, who sells Preston Hollow luxury real estate in condominiums in Uptown Dallas, attributes the trend to the influx of overseas buyers.
“The biggest thing right now is the people who are from California, Chicago, New York,” said Berry.
But what do you ask for when looking for a home in Dallas?
Berry said she saw one of two things: people zoom in or out. She said customers either want more space or are shrinking because they no longer want to clean their larger homes.
In terms of layout and furnishings, however, Berry’s luxury customers seem to have been influenced by the pandemic life. She said they are looking for home offices, gyms, or exercise rooms and “everyone wants a pool”.
Berry said the homes being built in 2020 will undoubtedly provide for home living.
“The office, the studies will be in every home, and the outdoors will be more prevalent,” she said.
One of Berry’s recent ads, a $ 2,975,000 home in North Dallas, has these amenities. There is a wood-paneled study, an at-home gym, and a large outdoor area with a pool. The house at 4610 Royal Lane has five bedrooms, five bathrooms, and two half baths in an area of 8,237 square feet.
You can find more photos of the house on the listing website.
Nancy Johnson, Compass’ top agent in East Dallas, has discovered that customers are interested in certain aesthetic elements. She agrees with Berry that everyone wants a pool and an office, and that many buyers are from California.
Johnson said she found families are willing to spend more money on an updated, full home rather than buying a home for renovation.
“Because interest rates are so low, people prefer houses – they are willing to spend more – for a house that is already finished,” said Johnson.
She added that customers want natural light and are still interested in the all-white interior aesthetics and neutral earth tones that have been popular over the past few years. One unique feature that caught her eye is the white exterior and contrasting black windows, a design that is present in some of their current offerings.
Black has made a comeback, Johnson said, with customers swapping the recently popular brass interior trim for darker tones.
One of Johnson’s current Lakewood offerings, the 6815 Carolyncrest home has a white exterior with black trimmed windows and earth tone accents. It’s a five bedroom, five bathroom, and one half bathroom home with a pool in the back yard. It’s 5,128 square feet and is listed for $ 1,995,000.
Visit the listing webpage for more photos of the home.
Johnson recently saw families opt for five-bedroom homes, which she attributes to larger families or the desire for a guest room. She has also noticed that many of her younger clients are moving closer to their extended families as the pandemic has freed many from the need to live in close proximity to work.
All in all, homes are selling fast and market stocks are low.
“Good homes sell very quickly as long as the prices are correct,” said Johnson.
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