Real Estate Rumblings

Dallas single-family home prices may buck appreciation trends

According to a new report from CoreLogic, single-family home prices in the Dallas-Plano-Irving metropolitan area were up 10.4 percent in April 2014 compared to the same period last year. On a month-over-month basis, home prices increased by 2.4 percent in April 2014 compared to March 2014.

These numbers are down only slightly from those reported in March 2014, when there was an 11 percent bump in Dallas home prices and an 11.1 increase across the country. But those April stats still secured Dallas’ No. 7 sport nationally.

What’s happening in Dallas is right in line with the nationwide year-over-year increase of 10.5 percent and month-over-month increase of 2.1 percent. This marks the 26th consecutive month of year-over-year nationwide home price gains; however, this is the smallest year-over-year increase since February 2013.

Although CoreLogic experts anticipate the dearth of inventory — which perhaps explains this lunacy in Sachse — will continue to drive up home prices, they also expect continued appreciation slowdown nationwide. In fact, the CoreLogic HPI forecast predicts only a 6.3 percent increase in home prices from April 2014 to April 2015.

Back in the Lone Star State, CoreLogic reports a 10.3 percent year-over-year increase in the home price index (HPI), which puts Texas in the No. 10 position among the 50 states. The Houston metro area bucks the slowdown trend, reporting gains of 14.1 percent over April 2013 (up from 13.7 percent in March 2014) — enough to earn a No. 3 spot nationally compared to other major cities. Houston ranks behind only the Riverside-San Bernadino-Ontario and Los Angeles-Long Beach-Glendale areas of California.

To determine the HPI, CoreLogic, a residential property information, analytics and services provider, looks at price, time between sales, property type, loan type and distressed sales. The CoreLogic HPI is a repeat-sales index that tracks increases and decreases in sales prices for the same single-family homes over time, which provides a more accurate “constant quality” view of pricing trends, as opposed to views of pricing trends based on analysis of all home sales.

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Mixed Use News

West Grove center in McKinney signs on slew of new restaurants

Whole Foods Market flagship store in Austin

Photo courtesy of Whole Foods Market

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A mixed-use center coming soon to McKinney has already lined up more than a dozen tenants: According to a release, West Grove, a new development at the intersection of US-380 and North Custer Road has signed on a supermarket, a coffee shop, ice cream shop, and a Chick-fil-A.

West Grove is from De La Vega Capital and Development and designed through a public-private partnership with the city of McKinney. It'll span more than 500,000 square feet and be a walkable mix of retail, restaurants, and entertainment options, as well as 420 residential units, 55,000 square feet of office space, and two acres of green space, with a 2-acre park, plus open-air spaces, lively outdoor decks, lush landscaping, and thoughtful lighting details, that sounds intriguing.

West Grove will be anchored by Whole Foods Market, which broke ground in November 2024. The center is scheduled to open in 2025. Miraculously, the Chick-fil-A opened in March.

Without further ado, the businesses making their West Grove debut include:

Food & Beverage

Whole Foods Market. A 45,082-square-foot Whole Foods Market will anchor West Grove.

Oak & Stone. A modern eatery specializing in wood-fired pizzas, craft beers, and artisanal dishes made from freshly sourced ingredients. This will be the first Oak & Stone location in Texas.

Chick-fil-A. Chick-fil-A opened at West Grove in March 2024.

Kura Revolving Sushi Bar. Japan chain is a unique revolving sushi bar experience where customers can select dishes from a conveyor belt. The West Grove location will be the first Kura Sushi in McKinney.

Keke’s Breakfast Cafe. This breakfast chain is the Denny's sibling known for its breakfast and lunch. This will be their first location in McKinney.

Velvet Taco. Dallas fast-casual chain specializing in globally inspired tacos will open its first McKinney location at West Grove.

Sweet Paris Crêperie. Originally from Houston, Sweet Paris specializes in crêpes, waffles, and other French-inspired dishes. This is their first location in McKinney.

Chipotle. Popular fast-casual chain specializing in customizable burritos, tacos and bowls, Chipotle has a strong presence not only nationwide but also in McKinney.

La La Land Kind Cafe. Quickly-growing Dallas coffee shop chain is dedicated to supporting and creating opportunities for youth and individuals in need. This will be the first La La Land in McKinney.

Paciugo Gelato. Founded in Dallas, Paciugo is the Italian-inspired gelato shop offering a variety of handcrafted flavors. The West Grove location is an anticipated addition to McKinney, making it the only active Paciugo in the area.

Health & Beauty

Sephora. Largest prestige beauty omni-retailer in the U.S. and Canada offers a wide range of high-end makeup, skincare, hair, and fragrance products. This will be the first stand-alone full-service location in McKinney.

Orange Twist. California-based med spa specializing in non-invasive aesthetic treatments like body sculpting and skin rejuvenation. This will be Orange Twist’s first location in McKinney.

Reformed Pilates. Boutique Pilates studio offering reformer-based classes focused on strength, flexibility, and overall wellness. This will be the first Reformed Pilates studio in McKinney.

Services

Resort Nail Spa. Luxury nail spa offering premium manicure and pedicure services, dedicated to creating a relaxing and affordable experience. Originating in Dallas, this will be the first Resort Nail Spa location in McKinney.

Chewy Vet Care. Chewy Vet Care is a branch of the popular online pet retailer Chewy, providing veterinary services for pets. This facility is one of the first Chewy Vet Care locations in Texas, alongside one in Fort Worth.

PNC Bank. Headquartered in Pittsburgh, PNC Bank is one of the largest financial services groups in the U.S.

“We’re excited to continue expanding West Grove with a diversified selection of tenants that complement our vision for the development,” said De La Vega President and CEO Artemio De La Vega. “West Grove is a space where people can gather, connect and enjoy experiences that enrich their daily lives.”

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