real estate news

Dallas nails No. 2 ranking for new construction homes sold in U.S.

Dallas sold nearly 1,600 new construction homes in March.

The Lone Star State is holding on to its reputation as one of the hottest moving destinations, and a new report shows four Texas metro areas have sold the most new construction homes in the country, with Houston and Dallas outshining them all.

Dallas sold the second-highest number of new construction homes nationwide in March 2024, according to SmartAsset's recently published report, "Where the Most New Construction Homes Are Being Added – 2024 Study." The metro area claimed the No. 2 spot out of 153 U.S. cities ranked based on Zillow's real estate data from March and April.

A total of 1,574 new build homes were sold in the Dallas area in March, for a median sale price of $414,950. The metro's median price point for newly constructed homes is about $36,000 more than the median price for all Dallas homes sold in April, which came out to $379,117.

New construction home prices seem high for Dallas, but things could be much worse. San Jose, California (which ranked No. 132) only sold 41 newly built homes in March, but they sold for a median sale price of $1.734 million.

While inflation jumped by nearly 23 percent from spring 2019 to spring 2024, SmartAsset says housing prices skyrocketed even more during the same time period to 49.4 percent on average. The report indicates these daunting figures aren't having an optimistic effect on potential buyers.

"Housing costs are often the largest budget item for Americans and this could make home ownership feel out of reach for many," the report's author wrote. "But adding new housing can help relieve price pressures in undersupplied metro areas."

Houston barely edged above Dallas in the national standings with 1,751 new construction homes sold in March 2024. The median sale price for these new homes in the East Texas metro was far lower than Dallas', at $347,990, which is about $30,000 more than the median price for all homes sold in Houston during the following month.

Other Texas cities that helped secure the state's dominance in the top 10 include San Antonio (No. 5) and Austin (No. 7). Only 777 new construction homes were sold in the Alamo City in March, with a median sale price of $310,446, which is the most affordable price out of all Texas cities in the top 10. In Austin, 750 new build homes were sold in March, for a median price of $434,900.

The top 10 U.S. metros with the most new construction homes being sold are:

No. 1 – Houston, Texas
No. 2 – Dallas, Texas
No. 3 – Atlanta, Georgia
No. 4 – Phoenix, Arizona
No. 5 – San Antonio, Texas
No. 6 – Charlotte, North Carolina
No. 7 – Austin, Texas
No. 8 – Nashville, Tennessee
No. 9 – Tampa, Florida
No. 10 – Raleigh, North Carolina

Real estate data for all 153 U.S. cities mentioned in the report – including new construction sales count, median sales prices, median sale price per square foot, and median price for all homes (as of April 2024) — was sourced from Zillow based on all single-family homes and condos.

The full report can be found on smartasset.com.

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Haggard Farm news

Massive retail village with restaurant and event barn to debut in Plano

Rendering courtesy of Haggard Farm

A rendering of Almanac restaurant at Haggard Farm.

A 180,000-square-foot “retail village” is about to be born in Plano.

The village will debut this fall at the more than $750 million Haggard Farm mixed-use development, along with 350 apartments, 188 townhomes, and a three-acre park. Haggard Farm sits at Spring Creek Parkway and Parkwood Boulevard in Plano.

A farm-to-table restaurant and an event barn will anchor the village, being developed by Stillwater Capital in partnership with The Retail Connection and WoodHouse.

WoodHouse will introduce two original concepts: a farm-to-table restaurant called Almanac and an event space called Haggard Hall. Stillwater says the 17,500-square-foot event barn, made of mass timber, is “inspired by the role Texas dance halls once played as community gathering places.”

Haggard Hall will accommodate more than 600 guests across the main hall, private dining rooms, and event lawns.

“Our history as music venue, club, and restaurant operators has made us keenly aware of the collective chemistry that transforms a neighborhood into a destination,” W. Brandt Wood, partner and director of experience at WoodHouse, says in a release. “Haggard Farm will greet its visitors with immersive, authentic, and interconnected experiences throughout the district.”

Stillwater Capital says more tenants will be revealed soon. Over half of the spaces at the retail village are already leased.

The retail village will offer “a distinctive mix of dining, wellness, hospitality, apparel, and home furnishing operators,” the developer says.

The entire development will span 142 acres. Aside from the retail and residential components, Haggard Farm will feature a boutique hotel and up to 600,000 square feet of office space.

Clay Roby, managing director of Stillwater Capital, says Haggard Farm’s lawns, gardens, and water features will complement farmers markets, seasonal festivals, and community concerts.

“Haggard Farm is one of DFW’s most exciting projects — a curated collection of shopping, dining, hospitality, and residential components inspired by the unique character of this land and delivered as a single cohesive environment,” Roby says in the release.

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