DALLAS (WBAP/KLIF News) – According to real estate experts, housing prices in Dallas / Fort Worth have risen by 7 percent annually over the past five years.
The situation has potential homeowners asking if the Metroplex is approaching a bubble.
Alex Doubey, CEO of Door Homes, said residents need to be prepared for what has become the new normal.
“Are we becoming a city more akin to those on the coast? Dallas is not going to be an inexpensive city anymore. We’re going to be an expensive city,” he said.
Doubey said compared to the rest of the country the Metroplex is still affordable and should remain that way.
According to Zillow.com, the average value of a home in Dallas is about $175,000.
The website also lists the median price of a house in Dallas as $380,000 while the median price of homes that sold was around $294,119 for 2017.
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