This traditional two-story, two-bedroom 2½-bath home, just inside the Dallas city limits, was built in 1985. It features a family room with 15-foot ceilings and a wood burning fireplace with mantle and brick hearth. The kitchen, with granite countertops, oak cabinets, smooth-top range and ceramic tile floors, opens to formal dining room with chair moldings. Both bedrooms are the same size, each with its own bath and vaulted ceilings with ceiling fans, and walk-in closets, says Eric Stout, Realtor associate for Coldwell Banker Residential Brokerage — Dallas/Fort Worth. The “master” bath also has granite countertops. The property also includes a one-car garage and a low-maintenance yard with cedar fence (called “garden lot” in local parlance).
The median price “would be a relatively modest amount for our suburban neighborhoods with stronger school districts,” says Stout. For $150,000 in the Dallas/Fort Worth area, buyers can get a good, solid first house, “a single-family home that would offer an attached garage, and one or two stories,” he says, and something built in the 1970s or 1980s “would not be uncommon.” In Dallas, as in many cities, homes are “more expensive in the city the closer you get to the center,” Stout says. “The farther out you go, the more you get.”
In the median price range, “our data has been fairly flat in the last 12 months,” he says. At the same time, “government stimulus money is certainly helping the first-time homebuyers market,” Stout says. And prices are up “a little bit,” this year, he says.
The median home price in the Dallas/Fort Worth area was $150,300 during the fall of 2008, increasing to $150,500 during the same period in 2009, according to the National Association of Realtors.