The roofs are on fire

Fast-growing Dallas neighbor takes title as No. 1 U.S. housing market, report says

Frisco is growing, and homes are flying off the market.

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At least by one measure, the Dallas-area housing market is 100-degrees-in-the-summer hot.

A study released August 24 by personal finance website WalletHub ranks four North Texas cities among the 10 most attractive real estate markets in the U.S. Frisco grabs the No. 1 spot, with McKinney at No. 4, Denton at No. 5, and Allen at No. 6.

The only other Texas market in the top 10 is second-ranked Austin.

Looking in particular at Frisco, its placement atop the WalletHub ranking stems in large part from its eye-popping population growth. At a rate of 71 percent, Frisco was the fastest-growing large U.S. city from 2010 to 2019, according to the U.S. Census Bureau. Today, Frisco’s population exceeds 208,000.

Frisco remains one of the most active cities in DFW in terms of home construction. Through May 31, there were 1,283 residential building permits (not quite as many as nearby Celina).

To determine the most attractive real estate markets, WalletHub compared 300 cities across 18 key metrics. The data ranges from appreciation of median home price to job growth.

The Dallas-Fort Worth real estate market “is doing great after recovering from the blows of the pandemic since July of last year. Demand for single-family homes has risen and supply has lagged since the second half of last year,” according to Norada Real Estate Investments.

Highlighting the hotness of the DFW market, Norada notes that the region’s supply of available homes stood at 1.1 months in the second quarter, and that the median home price climbed 22.4 percent to $349,381.

“2021 has represented a year of strengths in many financial areas. The stock market and bank account balances are up, while unemployment and interest rates are low. These factors represent ideal conditions for the housing market, and as long as we continue to see shortages in housing inventory, we should still see an ideal environment for housing growth,” Job Hammond, secretary-treasurer of the Austin Board of Realtors and an adjunct professor at Austin Community College, tells WalletHub.

Here are the 10 most attractive real estate markets in the country, as judged by WalletHub.

Frisco
Austin
Gilbert, Arizona
McKinney
Denton
Allen
Durham, North Carolina
Reno, Nevada
Roseville, California
Nashville, Tennessee

lists rankings

Home For Sale

Once-in-a-century 3-acre estate for sale in Dallas' Preston Hollow

The Agency Dallas

9511 Inwood Rd.

A once-in-a-generation estate has hit the market in Dallas' Preston Hollow neighborhood. Located at 9511 Inwood Rd., the home is being offered for sale for the first time in more than a century, having remained under the stewardship of the same family since at least 1940 when the current home was built.

Situated on nearly three acres on a corner lot, it's an English-style estate surrounded by century-old hardwoods and manicured landscaping, creating a private sanctuary in the middle of the city.

There's a main residence, guest quarters, and two workshops, one featuring a rail-mounted hoist and enhanced electrical systems.

Listed for $7,500,000, the home has 4,675 square feet with four bedrooms, 4.5 bathrooms, and a five-car garage.

The property is free from both floodplain and historic designation, allowing a buyer to remodel, rebuild, or (ugh) subdivide. It also has three curb cuts — two on Inwood Road and one on Park Lane — with the possibility of a posh Park Lane address.

It's also zoned for horses and other animals, and a perimeter privacy wall can be added.

According to listing agent Andrea Childress with The Agency Dallas, the property was originally known as Sunnyslope Estate, and was developed more than 100 years ago by oilman M.H. Marr, who was searching for a place to settle with his family when he discovered the tract of land on what was then the edge of Dallas and is now in the heart of Preston Hollow.

Marr's wife, Adah Yale Marr, was known for her prominent social presence, entertaining various figures and hosting business gatherings with Dallas families like the Hunts, Meadows, and DeGolyers among their guests.

The Agency Dallas

9511 Inwood Rd.

Childress calls it "more than just a listing—it’s a landmark."

"Properties like this simply don’t exist anymore, especially with this kind of acreage, location, and legacy,” she says.

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Home For Sale

Once-in-a-century 3-acre estate for sale in Dallas' Preston Hollow