This Forest Hills Home Dropped $300K and it Feels Like We’re Seeing More Bargains Like it

Bargain real estate hunters, listen up. We got word that a gorgeous Forest Hills home has dropped price by $300,000 and I’ve been seeing some other price drops, too. What’s going on here with Dallas real estate?

Our home prices are rising a little slower than they have been the past couple years, according to the latest Case Shiller reports. D-FW home prices were up only 3.6 percent compared to March 2023 levels. At least we were not leading the pack as we have been the last couple of years.

In fact, of the 20 major metro areas that Case-Shiller tracks, Dallas had one of the puniest price increases in the group. Only Denver (2.1 percent), Portland, Ore. (2.2 percent), and Minneapolis (3.3 percent) had smaller price increases than Dallas. Austin is not in Case-Shiller, but the Austin market is experiencing a price softening, thanks to tech layoffs I’m hearing.

What cities had the highest? San Diego had the largest annual increase at 11.1 percent, New York (9.2 percent), Cleveland (8.8 percent), and Los Angeles (8.8 percent) followed. Some agents say they think the Californians may be done shopping here.

Fabulous find: 8125 San Fernando Way: $3.2 million, reduced from $3.5. 

With a La Cornue Kitchen, Glorious Gardens, and Wine Room, This Forest Hills Home is Nirvana For Serious Cooks

Allie Beth Allman and Associates’ Diana Nelson: “What we have is a motivated seller here who relocated. She is ready to sell. This is a great multi-generaltional home, but it’s not cookie-cutter. There is a to-die for pool just in time for summer fun, and a great shaded yard. A Lakewood client of mine wanted to ‘graduate’ to Forest Hills until out-of-state buyers made our prices so crazy. It’s understandable given our prime location near the lake and the rarity of wooded half-acre lots in Dallas. Now Forest Hills is undergoing a ‘new-home’ frenzy, meaning buyers want and will pay for a new home. It comes a little late after some other Dallas neighborhoods experienced this. I think that’s why homes with great bones and history are being overlooked.”

Newsflash! Dallas homes are negotiable!

And we are seeing more new listings = more competition.

Diana Nelson at Allie Beth Allman and Associates have listed 8125 San Fernando Way for $3.2 million.

Are you seeing a lot of price reductions around town? Tell us.