The state of the Dallas luxury home market is evolving and adapting and nobody knows for sure what impact the current COVID-19 health crisis will have. Here are some of the pros and some of the cons that I see affecting the luxury home market in Dallas:
PROS
Fed's printing of money should make assets like real estate rise in value
Interest rates are at all time lows
Recessions are usually good for real estate prices
Families from both west coast states like California and east coast states like New York and others are still attracted to Dallas relocation
Stay at home orders has made everyone appreciate the comforts in their home
CONS
There are fewer buyers looking for a Dallas luxury home
The number of overall sales are down
Social distancing limits involvement in the home purchasing process
We have a reduced amount of luxury home inventory
The Dallas luxury market is steady for now. Will Dallas luxury real estate be the next victim of COID crisis? Or will it continue to grow? We will find out in next few months. But meanwhile, let us know if you are looking to buy or sell your next Dallas luxury home!
About us: Dallas Luxury Real Estate Agents
As top Dallas real estate agents, we take great pride in using our expertise, resources, and global connections to perfectly unite extraordinary places in a variety of lifestyle categories and price points. Discover why we are one of the most respected teams for buying and selling in the area Dallas. It is also important to highlight that luxury is an experience, not a set number. Price point does not define luxury. We provide the same elevated experience to every client. From sky residences in Downtown Dallas’ premier high rise buildings to distinguished properties throughout cities like Southlake and University Park, we offer real estate buyer and seller representation services that give our clients the edge when buying or selling real estate in Dallas metro area. Our commitment and daily dedication is to delivering a high level of expertise with extensive hyper local market knowledge, savvy negotiations and innovative technology.