Each Friday, Robbie Briggs, president and CEO of Briggs Freeman Sotheby’s International Realty, writes about luxury, trends, business and more in the advertising pages of the Mansion section of The Wall Street Journal. Below is his letter of April 9, 2021.
FROM MY PERSPECTIVE
“Should I sell my house now?”
That is the question of the day in our business. The short answer? Yes. Buoyed by a record-breaking third quarter of 2020 — in which home sales increased 18.4 percent in Texas — the Lone Star State looks set to remain a seller’s market for quite some time.
With the worst of the pandemic disruption hopefully over — knock wood — any Texas homeowner may rightly be wondering if they should sell while the selling is good. I’ll say this: The conditions are perfect for a fast and profitable home sale here. Interest rates remain historically low, dropping to 2.8 percent in 2020. Add to that a persistently limited inventory in Texas, and there’s only one direction for prices to go.
Another factor driving demand? The influx of people moving here, especially from California and New York. Now that work-from-anywhere is a way of life for a lot of people, North Texas looks especially good, with our bigger homes, bigger living and famous lack of personal state income tax. As long as the Texas economy remains buoyant, demand for real estate will outstrip supply. The stories of multiple offers being made on almost every home in the Dallas-Fort Worth area could continue for some time.
It all adds up to one hot market. So, the answer to the big question is yes: It is an opportune time to sell. You will likely do very well. You should talk to one of our agents sooner than later.
And, that leads to the second big question we’re getting: “But, where will I go?” That’s where our expert agents also come in. With their knowledge, connections and intuition, you’re going to have options. As I write this, we’ve got more than 300 exclusive listings on briggsfreeman.com — everything from contemporary high-rise residences to some of the most beautiful traditional homes we’ve ever had. We’ve got open houses to see, too, virtually or in person, at briggsfreeman.com/open.
It’s a hot market, all right. But, while selling is getting all the attention, buying can be even more fun. I hope you get the chance to find out.
President and CEO