Commercial Real Estate Report - Dallas, TX [Apartment]

Property Type

The Dallas apartment market has returned to boom form, the pains of the recession all but forgotten. By the end of the latest quarter the vacancy rate had fallen by 30 basis points, down 80 points for the year and the lowest rate on Reis's records for this market since 2000. The performance of rents reflects the general strength of the market. Asking and effective averages for the fourth quarter of 2012 were up 0.4% and 0.5% from the quarter before and were up fully 3.2% and 3.9% for the year. (3/8/13)

Boundaries

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Recent Sales New Construction Highlight Submarkets

Latest Quarterly Reports (Q1 2013)

Dallas, TX - Entire Metro
Submarkets
South County -110 bps
Southeast Dallas -110 bps
Plano/Allen/McKinn -70 bps
Oaklawn -60 bps
North -60 bps
Crrlltn/Addsn/Copp -50 bps
Garland -40 bps
Southwest Dallas -40 bps
N White Rock -40 bps
Mesquite/Seagovlle -40 bps
Richardson -30 bps
Far North -20 bps
North Irving -20 bps
Lewisville -20 bps
South -20 bps
Far Northeast -10 bps
Grand Prairie -10 bps
Far Northwest -10 bps
S White Rock/I-30 -10 bps
South Irving -10 bps
Central Dallas 50 bps
NW Denton County 50 bps
East Dallas 100 bps
Northwest 130 bps

Recent Sales

Cap Rate Trend

Sales Trend

Q1
2013
Q4
2012
Q3
2012
Q2
2012
Mean 5.8% 6.1% 8.8% 3.9%
Median 5.8% 6.1% 8.8% 3.9%
12 Month Rolling 6.1% 7.0% 7.4% 6.5%

Commercial Real Estate News

Headline Date
 

Recent Rent Observations

Location ID Class Rent
S White Rock/I-30 26314 BC $529
Richardson 77410 BC $731
N White Rock 26129 BC $620
Far North 25821 BC $518
North 13608 BC $704
Far North 13074 BC $621
Plano/Allen/McKinn 50053 A $1,022
Plano/Allen/McKinn 59330 A $1,163
Northwest 94149 A $1,522
Crrlltn/Addsn/Copp 58351 A $952

Change From Previous Quarter

Market Rent Vac Inv
Dallas 0.4% -10 bps 0.1%
Southwest Region 0.6% -40 bps 0.2%
United States 0.2% -10 bps 0.0%

Metro vs. Region -0.2% 30 bps 0.0%
Metro vs. US 0.2% 0 bps 0.0%

Latest New Construction Updates

National Apartment Real Estate Trends

Vacancy Trends
Supply and Demand
Inventory Change
Inventory Change

Metropolitan Apartment Rankings (Q1 2013)

Based on 275 U.S. Markets
Value:
167. Kokomo, IN 5.1%
168. Las Cruces, NM 5.1%
169. Richmond, VA 5.1%
170. Wichita, KS 5.1%
171. Atlantic-Cape May, NJ 5.2%
172. Dallas, TX 5.2%
173. Sherman-Denison, TX 5.2%
174. Tampa-St. Petersburg, FL 5.2%
175. Vineland, NJ 5.2%
176. Champaign, IL 5.3%
177. Fort Wayne, IN 5.3%

Avg Annual Growth Rate (2013 - 2017)

Market Rent Vac Inv
Dallas 0.9% 631 bps 1.0%
Southwest Region 0.8% 664 bps 1.9%
United States 0.9% 485 bps 1.0%

Metro vs. Region 0.1% -33 bps -0.8%
Metro vs. US -0.0% 146 bps 0.0%