THE ALLMANAC

DFW Leads Country in Real Estate Investment

DFW: North Texas led the country in the first quarter in real estate investment, thanks to apartment and industrial building sales. Newmark Group says in a new report that more than $13 billion in transactions were reported in the first quarter, more than double compared to the same quarter in 2021. Across the country, more than $170 billion in sales were reported in the first three months of the year, a 55% gain from Q1 2021. New York and Los Angeles trailed DFW. Property investment in North Texas has been on the rise since 2021, with more than $29 billion in apartment sales from March 2021 to March 2022.

DFW: North Texas has hit the Top 5 in office construction. With more than 8 million square feet of construction underway, DFW ranked fourth in new office construction. Yardi Systems ranks DFW behind New York City, Boston and Austin. New construction has surged in the past year as the pandemic has waned, but continues to be impacted by higher costs for land, labor and materials. New York City ranked first in office construction at the end of April with 19.1 million square feet, followed by Boston with 13.5 million square feet and by Austin with 10.3 million square feet under construction. DFW and Austin also are among the country’s leaders in office employment gains. And DFW is an office investment leader this year with more than $1 billion in transactions through April.

DFW: Mortgage rates are higher, many portfolios are lower, but home prices across DFW remain strong. The MetroTex Association of Realtors says that Collin County saw a 32.7% home sales price increase from April 2021 to April 2022 to $550,000. Denton County was next, up nearly 22% with a median sales price of $480,000. Rockwall County saw a 31% increase and a $435,000 median sales price. Ellis County reported a 17.7% increase and a median sales price of $400,000, followed by Tarrant County with a 26.4% increase and a $366,500 median sales price. Dallas County recorded a 17.5% increase and a $370,000 median sales price, according to MetroTex.

DFW: The homebuilding industry has had to weather numerous challenges over the past two years, but one North Texas developer is expecting to add more homes in a north Collin County project. Johnson Development Corp. says 450 homes will be constructed this year in its Trinity Falls development north of McKinney off of U.S. Highway 75. Some 2,000 homes already have been sold in the 2,000-acre development since it opened eight years ago. When completed, about 5,000 homes will be included in the master-planned community that includes 14 product types. The community includes several ponds, about 350 acres of open space and several miles of trails. It also includes 80 acres for commercial space and for four McKinney Independent School District schools, one of which is set to open next year.

GOTHAM: Jenna Bush Hager is listing the condominium she and her husband Henry Chase Hager own in the Tribeca neighborhood of New York City. The NBC TV Today show host has listed the 2,545-square-foot condominium in a boutique building for $5.3 million. The couple paid $4.58 million for the full floor unit in 2015. The condo includes four bedrooms and three and a half bathrooms. It has nine-foot ceilings, hardwood flooring throughout, high-end kitchen appliances, an oversized living and dining room, built-in bookcases and motorized shades. The primary suite includes an en suite bath with marble walls, and marble floors with radiant heating, double sinks and a soaking tub. The couple also own a home on Long Island.

COPYRIGHT © 2022. Allie Beth Allman & Associates, a HomeServices of America, Inc. company. All Rights Reserved.

THE ALLMANAC