Real estate report

North Dallas neighbor takes new title as No. 1 U.S. housing market, report says

No wonder businesses are choosing to open in McKinney.

Photo courtesy of City of McKinney

When it comes to places to buy a house, you can't do any better than McKinney. So says WalletHub's highly anticipated 2023 report on the best real estate markets in the U.S.

The new study by the personal finance website, released August 22, names McKinney the No. 1 most attractive real estate market in the country. It's followed closely by No. 2-ranked Frisco.

Dallas-Fort Worth housing markets have dominated WalletHub's report throughout the years, showing resilience as other markets rise and fall. McKinney and Frisco have been in the top five since 2021, but the 2023 report is the first time McKinney has dethroned Frisco from the No. 1 spot, after ranking No. 3 in WalletHub's 2022 edition and No. 4 in 2021.

With a great housing market come new businesses. It's no wonder that hot new restaurants, coffee shops, and other attractions are opening in McKinney or choosing the city for new locations.

July 2023 data from Realtor.com shows median home prices in McKinney have fallen 2.8 percent year-over-year to $550,000, with homes selling for an average 2.03 percent less than their asking price. Homes are spending an average of 30 days on the market, another indicator that buyers are willing to hold out for that perfect home for the right price.

Potential owners should attempt to buy their home soon while sellers are more willing to negotiate on housing prices in the wake of higher interest rates, according to Kelly Snider, an urban regional planning professor at San Jose State University.

"More important for the housing market is that brokers and agents pay attention to what buyers want and spend less time listening to what sellers 'expect' or "deserve,'" Snider said in the report. "It is becoming a buyers' market, and 2024 should be good for people looking to buy a house."

Two additional Dallas-Fort Worth cities, Denton (No. 4) and Allen (No. 6), earned top 10 spots for the second year in a row. Denton moved up four spots from No. 8 in 2022, while Allen fell four spots from No. 2.

Other Dallas-Fort Worth area cities that earned spots in the report include:

No. 22 – Fort Worth
No. 24 – Plano
No. 28 – Richardson
No. 36 – Irving
No. 42 – Carrollton
No. 43 – Dallas
No. 53 – Grand Prairie
No. 70 – Garland
No. 84 – Arlington
No. 120 – Mesquite

The study analyzed 300 U.S. cities across 17 metrics in two categories to determine the best real estate markets. Datapoints include median home price appreciation, ratio between rent to sale prices, housing affordability, job and population growth, and more.

The full report can be found on wallethub.com.

housing market McKinney Frisco real estate market home-for-sale

House For Sale

Dallas house for sale from the '50s is still in original condition

Courtesy

9203

There's a house for sale in East Dallas that's increasingly hard-to-find: a well-preserved home from the '50s for sale that's in nearly original condition.

The house is located at 9203 Lindaro Ln., just outside Loop 12 and walking distance to Bishop Lynch High School, in a stable neighborhood of homes build in the mid 1950s.

The listing by Bryant Nieves of Elite Real Estate Texas calls it a "beautifully preserved Mid-Century gem" with original hardwood floors in the downstairs bedrooms, a recently installed roof, a modern sprinkler system, and an upgraded AC unit.

There are multiple living spaces with a formal living & dining area, eat-in kitchen, and family room which includes an office nook with built-in desk. It has both a carport and attached 2-car garage, as well as a fully fenced yard.

Most of the homes in this neighborhood are 1,200 to 1,600 square feet, and priced from $250,000 to $350,000.

This house was built in 1957, but it differs in that it has a second-floor add-on over the garage — making it roomier at 2,202 square feet, with 5 bedrooms instead of the usual 3.

The two bathrooms are in original condition with '50s tile, both in good shape. The main bathroom has pale warm tan tile, almost flesh colored; the second bathroom, off one of the bedrooms, is a little prettier, with white tile and green-tile edging. Both are far superior to granite-look ceramic.

While both bathrooms merit admiration, this house is more about the wood. There are

original hardwood floors, all in great shape
wood doors including closet doors
wood paneling in the family room, with wood bookshelves and a build-in wood desk

There's also an odd wooden bookshelf that serves as a divider of sorts in the stacked formal living room.

The only room that looks unoriginal is the kitchen, which boasts white-washed '80s cabinets. It looks clean and functional, even if it does not match modern tastes.

Courtesy

Facade of 9203 Lindaro is pleasing, thanks to the unpainted brick.

It sits on a 7,535 sqft lot and the asking price is $395,000 — a bit optimistic, even if they find the rare buyer who sees value in an untouched '50s home.

sustainability home-for-sale