Dallas – Fort Worth Realtors Share Their Predictions on 2017. Is the Seller’s Market on it’s Last Leg?

Crystal_ballBy Joanna England and CandysDirt.com

Real estate is a seasonal business, for the most part. Spring is a hot time for homebuyers, while many sellers flood the market in fall. But for North Texas, 2016 had a mind of its own. We wanted to hear real stories about this year from a closely curated pool of Realtors and brokers covering a broad swath of our region. So we asked them:

Where (both in location and price range) did you notice the most growth? Was there anything that took you off-guard? What’s your major takeaway from this year? And how are you preparing for 2017?
 
We got some fantastic, insightful responses from some of the most successful Realtors and brokerages in the region, highlighting issues such as rising sales prices, the election season, inventory woes, and up-and-coming neighborhoods. Jump to read more and add your thoughts in the comments!

Cathy Browne headshot
“In 2016, we continued to see growth in Prosper, Celina, and Little Elm, especially in terms of new construction. Prices increased in my Allen market throughout 2016, with sellers’ expectations often based on news reports and forecasts of rising sales prices. It surprised me how hard it was to find affordable housing in the ranges below $350,000. We were having to go farther out to find any new construction that was reasonable, such as Wylie or Melissa. Biggest takeaway from 2016 — dealing with multiple offer situations. Challenges involved managing sellers’ expectations, appraisal issues, and properties selling over list price. Planning for 2017, I am expecting higher interest rates and a deceleration of price growth. Managing my clients’ expectations is always the biggest challenge, and good communication is the key!”

— Cathy Browne, Ebby Halliday Realtors

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