Buying and Selling

New survey shows Dallas homeowners' favorite time of year for moving

When they're ready to move, homeowners spring into action in spring.

Photo via duol.hu

Homeowners in Dallas-Fort Worth think that once spring comes around, it’s the best time to spring into action when it comes to moving.

A survey by Opendoor, which operates an online marketplace for homebuyers and home sellers, found 36 percent of DFW homeowners rate spring as the best season for making a move, while 30 percent favor the summertime. Meanwhile, 14 percent say any month is fine, 5 percent indicate the beginning of the year is best, and 3 percent say the time of year doesn’t matter.

In line with the survey results, May and June are the most popular months for home sales in DFW, with January being the least popular, according to Texas A&M University’s Real Estate Center.

That time of year appears to be getting even hotter for homebuyers and homes sellers in North Texas — or at least it was last year.

In May 2017, sales of single-family homes shot up 15 percent compared with a year earlier, according to MetroTex, an association that represents more than 18,000 Realtors in North Texas. For June 2017, it was 13 percent.

A December 2017 report from Owners.com, an online real estate brokerage, identified DFW as the fifth best market in the U.S. for home sellers. Austin was at No. 7.

home-for-sale

Big deal

Houston investor acquires Bishop Arts mixed-use portfolio in $170M deal

Photo courtesy of Hines

Michelin-recognized Written by the Seasons is one of several Bishop Arts businesses acquired by a Houston-based investor.

A Houston investor has snapped up a mixed-use portfolio of nine buildings in the Bishop Arts District, the second Bishop Arts property acquisition since August.

Hines Global Income Trust told CultureMap it paid more than $170 million for a mixed-use complex with 539 apartments and 49,000 square feet of high-end shops. The Bishop Arts Portfolio, as Hines refers to the real estate package on its website, sits on almost seven acres.

“Bishop Arts is a special place, shaped by the care and investment of its prior ownership. We see our role as building on that foundation through thoughtful ownership and Hines’ integrated operating platform,” Corbin Eckel, managing director at Hines, told CultureMap.

Hines identified the seller as Dallas-based Exxir Capital. Exxir developed Oak Cliff's 750,000-square-foot, two-block Bishop Main Street area, which features retail, residences, and offices, and includes the properties acquired by Hines.

Tenants of the newly acquired properties include:

Italian restaurant Lucia, a Michelin recommended restaurant.
Michelin-praised Written by the Seasons, which serves a New American menu.
Paradiso, a Southern European-inspired eatery.
Bar Eden Lounge, a swanky cocktail bar.
Village Baking Co., an artisan bakery.

Hines is taking over all leases at the residential properties:

Bishop North, 200 N. Bishop Ave.
Bishop Canopy, 515 W. 10th St.
Bishop Flats, 305 and 431 Melba St.
Treehaus, 211 W. 10th St.
Retail at 308 and 275 N. Bishop Ave.; 404, 332, 336 and 337 Melba St.; and 403 and 321 W. Ninth St. Altogether, the portfolio’s retail component comprises 22 tenants.

The Hines deal comes two months after Dallas-based investor 90Ten purchased 301-321 N. Bishop Ave.301-321 N. Bishop Ave. in Bishop Arts. Tenants include burger diner Hunky’s, Italian pastry and coffee purveyor Palmieri Café, vintage clothing store Dolly on Bishop, gift shop Kawaii Candle Co., and cosmetics retailer Simply Bella.

bishop arts hines global income trust dallas real estate commercial real estate residential oak cliff real estate