With business and pleasure travel and corporate relocations slowing, and airline cutbacks impacting business growth in general, Dallas/Fort Worth International Airport area bedroom communities are starting to see some slowdown in neighborhood sales.

Says Realtor Joanna Tipton, "D/FW is made up of some of the most vibrant and livable neighborhoods anywhere. Each has a style all its own, calling out to discriminating, sophisticated buyers from throughout the Metroplex.

"Market-wide, 2001 was a year of modest growth in D/FW real estate," she continues. "While the first half of the year enjoyed a robust market and interest rates have remained low, the gradually slowing economy coupled with the extraordinary events of September 11th caused a brief period of eroded consumer confidence resulting in decreased sales volume in the fourth quarter, particularly in the condo market. Nevertheless, the overall picture of 2001 is one of continued - albeit slower - growth over the previous year.

Among the most popular of the upscale mid-cities communities lying halfway between Dallas and Fort Worth is Las Colinas in Irving, Texas.

"Las Colinas has fabulous gated communities surrounding a few of Dallas' finest golf courses," says Realtor Sue Krider, "Attractive to homebuyers searching for homes convenient to downtown and both major airports. Las Colinas is a bustling golf course/resort community with the benefits of an urban location. Boasting the Four Seasons Resort & Club, Las Colinas Country Club, Hackberry Creek Country Club and the Las Colinas Urban Center, along with numerous worldwide corporate headquarters, you must see this area to truly appreciate it."

Valley Ranch, northeast of Irving, is also popular with airport commuters, but the area is in a economically impacted housing decline after several years of run-ups in prices. "Valley Ranch is a prime location convenient to D/FW Airport and the Las Colinas urban center," says Realtor Alysse Jeffers. "Existing home sales have declined by 11 percent versus this time last year. The average marketing time of a home in this area is 57 days - 21 percent higher than last year. Existing home purchases have not kept up with a 10 percent increase in inventory. As always, there is tremendous demand for newer homes or homes in pristine condition, priced below $250,000. The average price is $244,205. Homes in Valley Ranch that feed into Coppell schools are still in high demand. In other areas, however, I found the market fairly soft with declining prices."

"Interest rates are incredibly low, propelling a lot of first time homebuyers into the market," she observes. "I am also seeing a lot of sellers opting to upsize versus refinance. Inventory is fairly high - buyers have a nice selection of homes from which to choose. With all the bad news in the stock market these days, a lot of people have a renewed interest in real estate investment and putting their money into their own homes where it is safe."

Grapevine, which borders D/FW Airport, also has a popular lake called Lake Grapevine.

"Beautiful trees, historic downtown, excellent school district with Colleyville," says Realtor Patsy Whittington, "this area provides homes built from 1970 to fairly new. Not a lot of new construction. There are currently 193 homes on the market with the majority being $150,000 to $500,000. The prices below $300,000 are normally under $100/sf with those above $300,000 usually around $110/sf, depending on amenities and subdivisions. A great area for buyers who want a great school district but prefer to buy with medium-sized lots, fast access to the airport and a reasonable access to both Dallas and Fort Worth."

Click here to view current Market Conditions in your location.

Published: September 4, 2002

Use of this article without permission is a violation of federal copyright laws.