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    Sticker shock

    New real estate report reveals whopping increase in Dallas home prices

    John Egan
    May 24, 2021 | 12:35 pm
    House and mortgage papers
    Out-of-state buyers are driving Texas home prices skyward.
    Photo by Krisanapong Detraphiphat/Getty

    A new report from real estate brokerage Redfin offers a stunning picture of just how crazy some housing markets around the country have become, including Dallas'.

    The report, released May 19, shows that Dallas saw a 19.9 percent year-over-year jump in median home-sale prices last month. To put that in perspective, four of the highest growth cities around the country had only slightly larger increases: Oxnard, California, and Miami, each at 25.8 percent; and Phoenix and Tacoma, Washington, each at 24.9 percent.

    But among the country’s 85 largest metro areas, the report shows, no housing market is hotter than Austin's. Texas' capital city recorded the biggest year-over-year rise in April for median home-sale prices — a jaw-dropping 42.3 percent.

    Elsewhere in Texas, Houston came in at 16.8 percent, San Antonio at 14.6 percent, and Fort Worth at 14.3 percent, according to Redfin.

    “Many of our recent reports have shown that people are moving ... from major metropolitan areas like New York and the Bay Area, and relocating to states like Texas that offer lower taxes, lower housing prices, and more space for them and their families,” says Daryl Fairweather, chief economist at Redfin. “This migration trend has caused many locals to be priced out and newcomers to have to deal with competitive bidding wars — often driving prices up even more.”

    The median sale price in Dallas last month was $361,000, and $295,000 in Fort Worth. In Austin, that number was $465,000, Redfin says.

    A further testament to Austin’s wild housing market: 73.7 percent of homes in the region sold above list price last month, Redfin says. Only Oakland and San Jose, California, and Tacoma, Washington, registered higher numbers in that category.

    Surprisingly, Fort Worth was not too far behind in this category, at a stunning 52.8 percent (compared with Dallas' 38.2 percent).

    April’s above-list-price figures for the other major metro markets in Texas:

    • San Antonio, 47.4 percent
    • Houston, 28.6 percent

    A separate May 19 report from HomesUSA.com reveals that Dallas-Fort Worth home builders continue to see astonishing demand for new homes, in particular, as new home sales, average home prices, and the speed of sales all increased last month.

    DFW's three-month moving average for "days on market" dropped from 102 days to less than 67 days in just the last year, according to the HomesUSA.com's New Home Sales Index. It’s a new record for the fastest sales pace of new homes since HomesUSA.com started reporting the data in 2017, they say.

    "The demand for new homes is going to continue for many months if not years in Dallas-Fort Worth," says HomesUSA.com owner Ben Caballero in a statement. "Throughout the area, we are seeing a gold-rush response as buyers flock to new developments, because demand is far exceeding supply."

    home-for-salereports
    news/real-estate

    Coworking News

    Dallas' Longhorn Ballroom unveils new renovated coworking studio space

    Teresa Gubbins
    Jun 12, 2025 | 2:07 pm
    Longhorn Ballroom
    Longhorn Ballroom
    Longhorn Ballroom

    Dallas' famed Longhorn Ballroom music venue has unveiled a newly renovated multi-use building — located across the courtyard from the Ballroom at 200 Corinth St. — that's open for creative types in the fields of entertainment, restaurant, and the arts.

    The Longhorn Ballroom was built in 1950 for country music legend Bob Wills and this Texas Playboys and was originally named Bob Wills’ Ranch House. It was managed for a time by Jack Ruby, then Dewey Groom who renamed it the Longhorn Ballroom and built it into one of the greatest venues of its day, hosting Willie Nelson, Loretta Lynn, Merle Haggard, Charley Pride, Pasty Cline, B.B. King, Ray Charles, Nat King Cole, James Brown, Al Green, Johnny Rodriguez, Freddy Fender and Selena.

    This newly renovated building was originally constructed in 1950 as part of the Ranch House, where it served as a motel for touring musicians and according to a release, is rumored to have sheltered Wills' horse "Punkin."

    Longhorn Ballroom coworking spaceYou could office here. Longhorn Ballroom coworking space.Longhorn Ballroom

    The two-story 26,000-square-foot building offers co-working spaces for entertainment professionals, attorneys, and managers. There are five 1-2 person offices available, along with a limited number of residential live-work studios for artists. There are also several small restaurant spaces available for "culinary creatives."

    The largest available area — a former recording studio — could be transformed into a space for audio, film, or post-production work.

    There is also a common area and kitchen, plus plentiful parking. Internet and utilities are included. Rates depend on space rented.

    "As an entertainment attorney, there’s no better place for my practice than the Oficina co-work space at the Longhorn," says Decker Sachse, a current tenant. "It’s a great location with easy access and my clients love the vibe."

    In the fall, the Longhorn will complete its third and final phase with the opening of a 6,500-capacity outdoor amphitheater along the banks of the original Trinity River. Called The Longhorn Backyard Amphitheater, it will host a series of soft opening shows this fall, starting with Randy Rogers on September 20. A grand opening with a full calendar of events will commence in the spring of 2026, providing the city with a state-of-the-art outdoor venue one mile south of downtown Dallas.

    concertsopenings
    news/real-estate
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