Homebuyers in Lewisville, Flower Mound and Highland Village lean more toward newer houses.
For many, it is about avoiding renovations or problems with plumbing and electrical, according to a survey from the latest Texas Homebuyers and Sellers Report from Texas Realtors.
“The newer the better,” said Becky Garrison, sales leader and associated broker for Ebby Halliday in Flower Mound/Lewisville.
The challenge is that a lot of homes on the market, especially in Flower Mound and Highland Village, are priced out of buyers’ reach.
As of late June, for example, only six homes in Flower Mound were listed between $250,000 and $350,000, Garrison said. In Lewisville, meanwhile, more than 70% of the more than 200 active listings were under $300,000.
Audra Smolinski, a broker and Realtor with Loves Residential Realty, agreed that affordability is a primary factor for today’s buyers. The challenge is balancing the price with everything else they want, she said.
“They want it all, and they can’t afford it,” she said. “It’s difficult to find anything move-in ready under $200,000.”
Garrison said the Chip and Joanna Gaines factor is also at play when people put their homes on the market. The Waco couple is behind the popular HGTV series “Fixer Upper,” which features homes that are more neutral, that have accent pieces and that include finishes that can be accessorized, she said.
“Make it a memorable house but not specific to taste,” Garrison said.
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1. Active home listing changes
Active home listings are up in Lewisville and Flower Mound in May 2019 compared with the same month a year ago while Highland Village listings are down slightly.
2. Closings continue to go up
The number of home sales closed in May 2019 is up in Lewisville, Flower Mound and Highland Village compared with the same period a year ago.
3. Single-family homes on the rise
The number of single-family homes continues to increase in all three cities, according to data from the Denton Central Appraisal District.
4. Home prices are increasing
The cities of Lewisville, Flower Mound and Highland Village are all seeing higher-priced homes for sale this year compared with the previous year. Here is the price distribution of home listings for May 2019 compared with May 2018. The numbers are greater than 100% due to rounding
5. Buyers market versus sellers market
The real estate market right now still favors sellers, especially at the lower price range, said Audra Smolinski, broker and Realtor for Loves Residential Realty in Lewisville. Many are still seeing multiple offers on their homes for sale, she said.
6. Mixed-use projects still popular
Projects that combine restaurants, retail and office space with residential are still popular. Lakeside DFW and Rive Walk at Central Park in Flower Mound create destinations with a more urban feel, said Becky Garrison, sales leader and associated broker for Ebby Halliday in Flower Mound/Lewisville.