Red-Hot Neighborhoods

Real estate experts dub Dallas-Fort Worth one of the hottest markets for 2018

Dallas remains hot in 2018.

Photo by Sean Pavone/iStock

It's getting close to the most popular time for homeowners to move, and Zillow has determined that Dallas-Fort Worth residents are about to have a lot of new neighbors.

The real estate website has named DFW one of the top 10 hottest housing markets for 2018, and provided a sneak peek at which neighborhoods are likely to see a surge in popularity this coming year.

Zillow scaled six variables for the 50 largest U.S. metros and combined them to form a "hotness" score. The data included:

Zillow’s home value and rent forecasts, which predict the change in median home values and median estimated rents over the next 12 months
Income and population growth using ACS 2015 and 2016 one-year estimates
Current unemployment rates from the Bureau of Labor Statistics
Glassdoor's estimated number of job openings per person

All that combines to place DFW at No. 10 in terms of "hotness." The Zillow home value forecast is 4.7 percent (the third-highest among the finalists), while the typical household income is around $63,812 (somewhat low compared to other cities, but remember our low cost of living). But what really wows is our anticipated job growth: a whopping 142,084 jobs, which is by far the most in the top 10.

And what are the hottest 'hoods within DFW? Jenkins Heights-Crest Ridge, in northwest Fort Worth, takes the top spot, with an anticipated 9.6 percent increase in home value appreciation. South Dallas (7.6 percent) is next, followed by Fort Worth's Willow Creek (6.1 percent), Reservation in Richardson (5.9 percent), and Arlington's Central neighborhood (5.6 percent).

Texas neighbor Austin also makes a good showing, landing at No. 6 overall. Zillow points out that Austin has one of the lowest unemployment rates among large cities, even as its population is growing faster than other major metros (it was at 2.8 percent between 2015 and 2016).

San Jose, California, tops the list of hottest markets for 2018, mainly because home values in the Silicon Valley hub gained 17.4 percent over the past year — the fastest growth among the 50 largest metro areas — and Glassdoor estimates that San Jose has 0.036 job openings per person, which is the highest rate among large U.S. metros. It’s also the only market with a median household income above $100,000.

Seattle (No. 3); San Francisco (No. 5); and Portland, Oregon (No. 9) help the West Coast dominate, while two cities in North Carolina — Raleigh (No. 2) and Charlotte (No. 4) — join Denver and Nashville to complete the top 10.

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Million-dollar homes

Multi-million-dollar gated home community The Preserve rises in Frisco

Preserve

A palace on the prairie of The Preserve in Frisco

Construction has begun on a multi-million-dollar custom home community in Frisco. Called The Preserve, it's situated among PGA Frisco’s championship golf courses and near the Omni PGA Frisco Resort, with multiple phases that will roll out over the next few years.

The Preserve is part of Fields, a 2,500-acre development in North Frisco off the Dallas North Tollway. Fields is co-developed and owned in partnership with The Karahan Companies, Hunt Realty Investments alongside investors Chief Partners and Cross Tie Capital.

The development will feature retail, dining, entertainment, hotels, corporate offices, native Texas plants, flowers, trees, and 250 acres of park space. It's designed by the same team responsible for Plano’s Legacy West, led by Fehmi Karahan.

Phase 1 of The Preserve will feature 233 homes crafted by 10 North Texas luxury homebuilders: Alford Homes, Coats Homes, and Starside Builders have all begun home construction. The other seven are The Preserve Bella Custom Homes, Endurance Homes, Faulkner Perrin Custom Homes, Hawkins-Welwood Homes, Shaddock Custom Builders & Developers, Sharif & Munir Custom Homes, and Ventura Custom Homes, for whom construction will start soon.

The Preserve Frisco The Preserve in Frisco, soon to be covered with homes.The Preserve

Lot sizes range from 6,800 square feet to more than an acre. Home design options will incorporate high ceilings, open floor plans, glass walls, and seamless transitions between indoor and outdoor such as patios, infinity pools, and landscaped exteriors.

The surrounding area will have more than 2,000 new trees plus views delivered via design elements such as floor-to-ceiling windows and expansive outdoor living areas.

Many of the homes will address sustainability, health, and wellness with green architecture, energy efficiency, water conservation, and recycled building materials.

It will combine the privacy of a gated community with resort-style living, featuring amenities such as the PGA golf courses, 20+ miles of hike and bike trails, and the exclusive Brookside Club with an expansive swimming pool, state-of-the-art fitness center, tennis and pickleball courts and a playground.

Prices will start at $3,500,000.

Hunt Realty SVP Todd Watson calls it one of the most anticipated mixed-use projects in the area -- æa perfect location for discerning buyers seeking their forever home or a secondary residence" — although he's involved with the project so he's probably biased.

“As part of the Fields development, with prominent neighbors like PGA of America and the Omni PGA Frisco Resort, we know The Preserve will be one of the most sought-after addresses in North Texas," Watson says.

According to the Frisco Economic Development Corporation, Frisco’s population has increased by 500 percent in two decades and was recently recognized as the fastest growing city in Texas and third across the U.S.

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