The Dallas-Fort Worth and North Texas residential real estate market continued 2013’s record-setting pace in 2014 with 83,000-plus home sales at a total market value of $20 billion changing ownership.
During the past two years, D-FW-area average home values have increased more than 20 percent. In the same period, the average time it takes to sell a home has decreased to less than 60 days.
The D-FW area continued to lead the nation in job growth in 2014, and the unemployment rate fell to 4.8 percent, remaining well below the national average. At the same time, salaries in the area increased in almost every income sector, according to the U.S. Bureau of Labor Statistics. That’s good news for both the local economy and area residential real estate sales.
It appears 2015 may be another stellar year for the Dallas-Fort Worth and North Texas residential real estate market and for the Ebby Halliday Companies. The recent acquisition of Williams Trew Real Estate by the Ebby Halliday Companies enhances the firm’s presence in Fort Worth and will add significantly to its ability to provide the highest quality of professional real estate services throughout the entire D-FW and North Texas area.
Through November, the Ebby Halliday Companies had participated in 1-of-every-5 D-FW area homes sold through MLS during 2014.
To view properties listed for sale throughout North Texas, visit the award-winning ebby.com.
Real estate reporter Steve Brown provides a nice recap of the 2014 D-FW real estate market in today’s Dallas Morning News.
According to Brown, North Texas real estate agents sold a record number of houses in 2014 and a jump in fourth-quarter home starts made last year the best year for home construction in the Dallas-Fort Worth area since the recession.
A year-end surge in home purchases and construction was prompted by lower mortgage rates and economic expansion in Dallas-Fort Worth, housing analysts say.
More than 90,000 pre-owned single-family homes changed hands last year in North Texas — a 1 percent increase in over 2013. North Texas home sales in 2014 were about 5 percent higher than in 2006, before the recession. And sales have grown more than 40 percent since 2010.
Home purchases in December through the Multiple Listing Service were particularly robust — 12 percent higher than a year earlier. Sales prices were 11 percent ahead of December 2013, with a median of $193,940.
At the end of the year, median home sales prices in North Texas were almost 40 percent above where they were in early 2010, when the recession reduced residential values.
Housing analysts and real estate agents say that recent declines in home finance costs helped boost sales in the final months of 2014.
Longtime Ebby agent Barry Hoffer says falling mortgage costs have definitely caught buyers’ attention.
“With the recent announcement from the Federal Reserve that rates may be going back up, buyers who had been considering a home have been taking action,” said Hoffer in the DMN article. “They hate to pay more interest if they don’t have to.”
Hoffer pointed out that sales would be even higher if there were more houses on the market. December’s inventory of homes for sale was the smallest number in more than a decade — 14 percent fewer than in December 2013.
Of course, all real estate is local. To learn more about your neighborhood of interest or the current value of your D-FW home, contact an Ebby Associate today. To get started, visit the award-winning ebby.com.
The Dallas Business Journal just released its annual Book of Lists, its year-end “scorecard” of the people, companies and industries that make up the North Texas economy. We’re proud – and humbled – that Ebby Halliday Real Estate Inc. once again topped the journal’s list of residential real estate brokerages.
With more than 19,500 transactions closed last year, Ebby was again ranked No. 1 on the Dallas Business Journal’s list of the Largest North Texas Residential Real Estate Brokerages. Ebby also ranked No. 1 based on sales volume with a total of $6.44 billion in 2014 sales.
Thank you to all of our Associates and clients for your support and trust. Our status as the North Texas market leader is truly because of you.
As we head into a new year that marks Ebby Halliday‘s 70th anniversary of serving North Texas and one that holds so much promise for our growing region, we continue to be dedicated to our founding principles of service: service to our clients, service to our industry and service to our communities.
We are very excited to announce that Williams Trew Real Estate is now part of the Ebby Halliday Family of Companies. Williams Trew, Fort Worth’s leading residential real estate brokerage, was previously a Sotheby’s company. Below is the text of today’s full press release:
Dallas-based residential real estate brokerage Ebby Halliday Real Estate, Inc. announced today it has purchased Fort Worth-based luxury real estate boutique Williams Trew Real Estate. Financial terms of the transaction were not disclosed.
Williams Trew, which was founded in 2000 by Martha Williams, Joan Trew and Marshall Boyd, will continue to be branded and conduct business under the name Williams Trew, an Ebby Halliday Real Estate Company and will continue to operate out of its current locations in Fort Worth. Ms. Williams and Ms. Trew will continue leadership roles with the company. Mr. Boyd will guide the transition and then pursue other existing business opportunities outside the company.
“Timing is everything, and the timing of this move meets current market needs and positions our company to better serve current and future residents of Fort Worth,” says President & CEO of the Ebby Halliday Companies Mary Frances Burleson. “This acquisition brings together two like-minded companies with many years of residential real estate experience.”
Ron Burgert, chief financial officer of the Ebby Halliday Companies, adds, “We have built our company on several strategic moves in our almost 70 years in business and we believe this acquisition will help ensure our market position for many years to come. From a business standpoint, we are able to combine budgets, marketing and advertising in a more strategic and cost-effective manner.”
“We are pleased to join Ebby Halliday and believe this move significantly strengthens our leading position in the Fort Worth marketplace,” says Martha Williams of Williams Trew Real Estate. “As part of Ebby Halliday, our agents and sellers will have more resources without losing our company culture. Both our companies are privately held and customer-focused.”
Adds Joan Trew, “Their team has a proven record of integrity, service and client satisfaction. They also have a record of integrating acquisitions smoothly and without employee or market interruption. We like and respect their approach to the business of people.”
The acquisition is effective immediately. “We are already working on the transition,” says Williams Trew co-founder Marshall Boyd. “It will be seamless to our clients and our agents and sellers will not be impacted. We will increase our marketing and advertising strength and realize targeted cost efficiencies.”
With this transaction, Williams Trew becomes an Ebby Halliday Company and will no longer be affiliated with Sotheby’s International Realty.
As an Ebby Halliday Company, Williams Trew and its Associates will benefit from the firm’s longtime affiliation with Leading Real Estate Companies of the World, a global network of more than 500 premier real estate brokers, and its luxury division, Luxury Portfolio International. LeadingRE affiliates produce more annual home sales than any other real estate network, according to Ebby Halliday Companies Corporate Real Estate Services Director Karen Greene.
“Membership in Leading Real Estate Companies of the World is by invitation only and is limited to the very best residential real estate companies worldwide,” says Greene, “We take pride in offering our clients knowledgeable Associates who provide exceptional service. Simply put, Williams Trew and its Associates are a perfect fit for the Ebby Halliday Companies.”
The Ebby Halliday Companies includes Dave Perry-Miller Real Estate, affiliated mortgage, insurance and title companies, and approximately 1,600 associates covering over 12,000 square miles of North Texas. It participated in more than 19,500 real estate transactions in 2013 with a sales volume of more than $6.4 billion. The Ebby Halliday Companies’ 13.5 percent share of the North Texas real estate market led all competitors, the nearest of which garnered 4.03 percent.
Independently owned and operated Ebby Halliday Realtors will celebrate its 70th anniversary in 2015. Having grown from a one-woman office to the largest independent real estate company in Texas, the company has consistently maintained a focus on service to the community. In addition to its support of many North Texas charitable organizations, the Ebby Halliday Companies belong to 27 local chambers of commerce.
“At Ebby Halliday, we’re proud of our undisputed role as the dominant real estate firm in North Texas,” Burleson says. “While 2014 has certainly been an exceptional year for our company, what remains most important to us is service to our clients, service to our industry and service to our community. We welcome – and appreciate – the opportunity to partner with Fort Worth’s most respected real estate brokerage.”
Williams Trew Real Estate is Fort Worth’s leading residential real estate brokerage firm. With over 80 experienced agents the company provides home buyers and sellers with unparalleled experience in residential, farm & ranch, lake or urban properties in the greater Fort Worth area.
Dallas-area home prices were up 7.4 percent in the just-released Standard & Poor’s/Case-Shiller Home Price Index.
The gain from a year ago was the fourth highest in the country and significantly ahead of the 4.9 percent nationwide gain.
The biggest increases were in Miami, up 10.3 percent, and Las Vegas, up 9.1 percent. Charlotte and Dallas were the only two cities to see their annual price gains increase from the previous month. Dallas home prices were up 7.3 percent in August.
Dallas-area home prices are now more than 12 percent higher than they were before the recession and at a record level in the Case-Shiller index.
Existing-home sales rose in October for the second straight month and are now above year-over-year levels for the first time in a year, according to a just-released report from the National Association of Realtors.
Nationwide, existing-home sales rose 1.5 percent in October from September. Sales are at their highest annual pace since September 2013 and are now above year-over-year levels (2.5 percent) for the first time since last October. In Dallas-Forth Worth, home sales were up sharply at 5.7 percent year-over-year.
The median existing-home price nationwide was $208,300, which is 5.5 percent above October 2013. In D-FW, the median home price was $182,000, also up 5.5 percent. October marked the 32nd consecutive month of year-over-year price gains.
At its annual Power Broker Dinner held in conjunction with the National Association of Realtors Conference & Expo, RISMedia honored Ebby Halliday Companies President & CEO Mary Frances Burleson with its National Homeownership Award. The award was presented by Tim Owens, retail sales executive for Bank of America Home Loans, the award’s sponsor, on November 7 in New Orleans.
The National Homeownership Award is given to a member of the real estate community who continuously demonstrates extraordinary contributions toward increasing homeownership and building better communities. Mary Frances Burleson embodies those qualities and more, Owens noted.
“Mary Frances is a true industry icon who has devoted decades of service to this industry,” Owens said while presenting her the award.
“I am honored to be recognized with RISMedia’s National Homeownership Award,” says Burleson. “I have been fortunate to serve a company founded by the legendary Ebby Halliday, whose impact on the residential real estate industry is unmatched. Our Associates, who seek every day to follow Ebby’s example of service, are the basis of our company’s success.”
Congratulations Mary Frances on a well-deserved honor. Your service to our industry makes all of us at the Ebby Halliday Companies very proud.
After a modest decline nationwide in August, existing-home sales bounced back in September to their highest annual pace of the year, according to a just-released report from the National Association of Realtors. All major regions of the country except the Midwest experienced gains.
Single-family home sales rose 2 percent in September over August, but are 1.9 percent below the pace a year ago. Nationwide, the median single-family home price was $210,300, up 5.9 percent from September 2013. In Dallas-Fort Worth, that number was $185,000, up 9.3 percent.
Discover what’s for sale in Dallas-Fort Worth in your price range at the award-winning ebby.com.
The fall/winter 2014 issue of Grand Vie: Luxury in Living magazine is out and is now being direct-mailed to approximately 30,000 luxury homes across Dallas-Fort Worth. The new issue is filled with some of the most luxurious homes on the market, from the spectacular Hill Country-style cover home in Dallas’ prestigious Preston Hollow, to an iconic Highland Park estate on beautiful Lakeside Drive.
In addition to highlighting the Ebby Halliday Companies luxury listings, this 15th edition of Grand Vie offers interesting editorial content, including a feature story on the latest trends in high-end kitchens; an enlightening story about second homes in the Texas Hill Country by Dallas’ ultimate real estate insider Candy Evans; an interview with luxury linen-maker Federico Pratesi; a look at the season’s hottest color; and a spotlight on the D-FW luxury market.
We’re confident you’ll enjoy the newest issue of Grand Vie: Luxury in Living. To view the digital version of North Texas’ leading luxury home publication, visit grandviemagazine.com.