Best Performing Cities in Dallas, Texas, for 2023! Which Cities Prices Jumped the Most?
Looking back at the performance of the Dallas housing market throughout 2023, we aimed to delve into the individual cities comprising the Dallas Fort Worth Metroplex to identify the ones experiencing challenges and those witnessing substantial growth in terms of median sales price appreciation. Through this article, we aim to present the top 10 cities with notable price appreciation from December 2022 to December 2023. Among these cities, some are highly coveted, featuring prominently on the wish lists of many individuals, while others unexpectedly found their way onto the list. For residents of these cities, the news is certainly positive, as the value of their homes has increased compared to the previous year. However, for prospective home buyers, the landscape in these sought-after Dallas Texas cities has become more competitive and challenging.
10. Fairview Texas
Fairview Texas median sales price rose +7.5% to $647,450 in 2023. 2022 was also a great year for it as well. Fairview is a beautiful area of Dallas Texas with homes on over an acre, and great schools. So there is no surprise the demand there is for the area.
9. The Colony Texas
The Colony, Texas, median sales price rose +7.9% to $480,000 in 2023. It also had a strong 2022 as well and is a very desirable area in Dallas, Texas, due to its proximity to Frisco, as well as Lewisville Lake.
8. Irving Texas
Irving, Texas, median sales price rose +8.1% to $400,000 in 2023. This area is very close to Downtown Dallas Texas, and is the main draw to the city.
7. Mansfield Texas
Mansfield, Texas, median sales price rose +8.5% to $499,000 in 2023. This is an area south of the metroplex and is really beginning to grow; several new construction communities are now available.
6. Hickory Creek Texas
Hickory Creek, Texas, median sales price rose +9.5% to $569,456 in 2023. This is a small little city that is located right next to Lewisville Lake, which is one of the main things that draws people to the area.
5. Lucas Texas
Lucas, Texas, median sales price rose +11.6% to $1,050,000 in 2023. This city is very close to Fairview, which was mentioned above, and is very desirable for the same reason. Most homes are on over and acre, and the schools are fantastic.
4. Addison Texas
Addison, Texas, median sales price rose +12.4% to $535,000 in 2023. Addison, Texas, is a vibrant town known for its strategic location near Dallas, its rich culinary scene with over 180 restaurants, diverse entertainment options, and beautiful parks. It hosts popular events like Taste Addison, Addison Kaboom Town!, and Addison Oktoberfest. Living in Addison offers an urban feel with many amenities such as bars, coffee shops, and parks. It’s popular among young professionals and is home to many corporate headquarters. The town is known for its diverse population and offers perks like free membership at the Addison Athletic Club. Overall, Addison provides a blend of urban living with a strong sense of community.
3. University Texas
University Park, Texas, median sales price rose +12.6% to $2,140,000 in 2023. University Park, Texas, is a prestigious city known for Southern Methodist University and its affluent status. It’s part of the Park Cities enclave of Dallas and offers various community services. The city is set to celebrate its Centennial on April 12, 2024. It provides a suburban lifestyle with numerous amenities. One of the other main draws to the city is that it belongs to the Highland Park School District, one of the notable ones in the Dallas Metroplex.
2. Heath Texas
Heath, Texas, median sales price rose +14.2% to $716,500 in 2023. Heath, a city located in Rockwall County, Texas, is a suburb of Dallas. It is considered one of the best places to live in Texas. The city has a rural feel, with most residents owning their homes. The public schools in Heath are highly rated, making it an attractive place for families to reside. The city is known for its Southern hospitality and charm, combined with modern amenities. It provides a close-knit community environment, ideal for families, friends, and neighbors to come together and enjoy the area’s beauty. From golfing on picturesque courses to shopping at local boutiques and galleries, there’s something for everyone in this charming Texas community. With its excellent school system, convenient access to larger cities like Dallas and Houston, plus vibrant local culture events throughout the year, Heath is truly a wonderful place to call home.
1. Highland Park Texas
Finally, Highland Park, Texas, whose median sales price rose an astounding +38.4% to $2,650,000 in 2023. Highland Park, Texas, is a highly sought-after place to reside in due to its bustling suburban environment that provides easy access to a plethora of amenities such as bars, restaurants, coffee shops, and parks. Moreover, the town’s government offers exceptional services that make living in the area even more desirable. It offers a perfect blend of city life and close-knit community atmosphere. Additionally, the school district is one of the major reasons why people prefer buying property in this city.
