The Dallas Townhouse Market

Townhouses do not really fit into either of the main categories of homes for sale in Dallas. They are not as spread-out as your typical single family home, yet they provide more space than a condominium. The market is not quite sure how to view them either, and right now townhouses are having mixed success in the marketplace.

Unfinished Business

Some builders, plagued by an excessive amount of inventory already on the market, are pulling the plug and walking away from partially finished developments. For example, on Bryan Street there is a large, unfinished townhouse development that has been abandoned, leaving the weeds to reclaim the property.

Starts are Down

Starts in Dallas townhouses are also down, dropping 75% since their early 2007 peak. Right now the number of finished, vacant townhouses available to buy was 335 at the end of 2007, up from 200 in late 2006. This is an estimated nine-month supply of Dallas townhouses, significantly more than the traditionally acceptable two and a half month supply found in stronger markets.

Some developers continue to forge on, though. Those in good locations or who have something unique to offer are pressing on with new Dallas townhouse projects, such as the Ross Avenue Brownstones. They will be finished and ready to buy in March 2008.

The good news for buyers is that developers are looking to sell, and will likely offer incentives to prospective buyers to entice them into completing a sale. This makes the townhouse market particularly attractive. Those with down payments and good credit should consider taking advantages of the bargains available in the Dallas townhouse market.

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