Home prices in North Texas are continuing to increase, with home values rising most dramatically in the suburbs and towns surrounding the city of Dallas.
The news outlet Stacker compiled a list of the 30 most expensive cities in the Dallas metro area using the Zillow Home Values Index.
“The No.1 thing that jumps out is that Dallas wasn’t on there. It’s important to note that Dallas hasn’t seen the appreciation that the surrounding communities have seen. You can see on this list that the suburbs are just killing it. All of these are peripherals around Dallas — that’s where a lot of this growth is,” Candace Evans, founder of the real estate blog Candy’s Dirt, told The Dallas Express.
“We are seeing a massive movement away from city living, people are just tired of it. It started with COVID, and people are tired of the restrictions [of cities]. Dallas suburbs have good schools, more space, more bang for your buck as far as your home price goes. A lot of people are working remotely and go to Dallas just a couple times a week,” Evans said.
Coming in at number 30 was Talty, Texas, where the average home value is $606,657 as of December 2022. The city saw a one-year price change of 13%, and home values have increased 62.8% over the past five years.
Celina made the list at number 27 and saw some of the highest home appreciation over five years of any city on the list.
“If you bought a home there five years ago, it would have gone up 71.8%. That’s amazing,” Evans said.
Frisco’s real estate market has been red hot, increasing 15.4% over the past year and 62.8% over a five-year period. The typical home value in Frisco now sits at $685,553.
“Frisco is just on fire. They have Universal moving there, the PGA; it’s just out of control in Frisco,” Evans said.
True to its name, Prosper has outpaced Frisco with a one-year increase of 16.9% and a five-year increase of 73.9%. The typical home value in Prosper is now at $819,067 and was the 12th most expensive city in Dallas for homeowners.
Lucas is the 8th most expensive city in the Metroplex for home values and the first with home values averaging over a million dollars. The typical home value in Lucas is $1,047,001, after gaining 13.2% over the past year. Lucas saw a 5-year price change of 63.9%.
“They have beautiful homes that are on par with Highland Park,” Evans said, describing Lucas.
The top 5, in order, were Highland Park, Westlake, University Park, Westover Hills, and Southlake.
As the most expensive town in the metroplex, Highland Park’s typical home value was $2,377,730, according to Zillow. The town saw a 13.6% one-year increase and a 40% increase in home values over the past five years.
The full list:
30. Talty
29. Coppell
28. Aurora
27. Celina
26. Hebron
25. Sunnyvale
24. Haslet
23. Keller
22. Lantana
21. Fairview
20. Trophy Club
19. Annetta South
18. Frisco
17. Mclendon-Chisholm
16. Annetta North
15. Pecan Acres
14. Argyle
13. Heath
12. Prosper
11. Double Oak
10. Copper Canyon
9. Colleyville
8. Lucas
7. Parker
6. Bartonville
5. Southlake
4. Westover Hills
3. University Park
2. Westlake
1. Highland Park
Trackbacks/Pingbacks