Condo Comeback

Condo appreciation blows past single-family homes — especially in Dallas-Fort Worth

Condo sales in Dallas are outpacing single-family home sales.

Ever since the recession, condos have suffered under the stigma of low and slow appreciation. Now, says a new report from Zillow, condos are coming back with a vengeance, outpacing single-family home values. And Dallas-Fort Worth is No. 1 on the list, with a staggering 20 percent growth from this time last year.

“The housing bust hit condo values hard, and over the past few years, buying a condo wasn’t always considered a good investment compared to a single family home,” says Zillow chief economist Dr. Svenja Gudell. “But that’s changing, and condos increasingly represent a strong-performing, often affordable choice, particularly for first-time buyers interested both in homeownership and in keeping a lower-maintenance, city lifestyle."

Nationally, condos are appreciating at 5.1 percent annually, while single-family homes are at 3.7 percent. In DFW, single-family homes have appreciated 14.9 percent over the past year. Increasing rents, limited inventory of low-value homes, and the popularity of urban life have prompted this runaway condo growth.

“However, as younger buyers compete for homes in urban neighborhoods, it’s important to consider some of the additional costs of condo life, especially homeowner association fees, when weighing options,” says Gudell.

To help compare, condo values decreased by 11.1 percent annually in November 2008. Single-family homes decreased 6.5 percent around the same time.

zillow reports

homebuyer power play

Dallas declared one of the top 10 buyer's markets in the U.S. right now

joe daniel price/Getty Images

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The tide has turned for the Dallas housing market, and buyers now have more power than ever to negotiate on their forever home, a new real estate report has confirmed.

Dallas has now become one of the top 10 strongest buyer's markets in the nation with sellers outnumbering buyers by 107 percent, Redfin's newest market trends report found.

Nationally, sellers outnumbered buyers by 58 percent in August 2026, which Redfin says is the largest gap on record. Out of the 49 most populous metros in the U.S., only five are considered seller's markets, and eight are considered "balanced" markets where the number of buyers and sellers are nearly equal.

That leaves the remaining 36 most populated U.S. metros as buyer's markets, which includes the biggest cities in the Lone Star State. In fact, four Texas cities rank among the 10 strongest buyer's markets in the country right now: Houston (No. 3), San Antonio (No. 6), Austin (No. 7), and Dallas (No. 8).

There were 30,854 sellers on the market in Dallas last month, more than double the amount of buyers (14,865). The market's tilt in favor of house hunters allows more legroom to be picky with the increased supply of available housing, while falling demand indicates less competition with other buyers.

"In most markets, buyers should negotiate on price and ask for concessions like repairs or help with closing costs," said Redfin senior economist Asad Khan. "Buyers shouldn’t assume every seller will budge, especially on a desirable home that’s already priced well, but they don’t need to rush into a deal that doesn’t feel right."

For sellers that want to stand out in a saturated market, Redfin suggests they should price their homes competitively and be prepared to negotiate.

A separate Redfin report found mid-September is the best time for Dallasites to buy a home, but other experts say hesitant shoppers have until early October to take the plunge.

Regardless of the timeline, the report warns that the recent surge of available housing is only beneficial for homebuyers that can afford it.

"High housing costs and widespread economic uncertainty have caused many would-be buyers to back off in recent years, creating the imbalance of buyers and sellers we see today," the report said.

The median price of a home in Dallas came out to $408,561 in August, though 79 percent of all home sales in the city sold for below their original asking price.

The top 10 strongest buyer's markets in the U.S. are:

No. 1 – Nashville, Tennessee
No. 2 – Miami, Florida
No. 3 – Houston, Texas
No. 4 – Orlando, Florida
No. 5 – Las Vegas, Nevada
No. 6 – San Antonio, Texas
No. 7 – Austin, Texas
No. 8 – Dallas, Texas
No. 9 – Atlanta, Georgia
No. 10 – Phoenix, Arizona

"Nashville, Texas, and Florida are home to robust buyer’s markets partly because they have some of the most active homebuilding pipelines in the country, with newly built homes continuing to hit the market even as demand cools," the report said.

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