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Comprised of 13 counties, the Dallas-Fort Worth-Arlington metro area is the fourth most populated metro in the nation with 7.1 million people. Located in northern Texas – the DFW metroplex as it is known – has roughly 2.7 million housing units in 9,286 square miles.
According to the American Community Survey in 2018, of the housing units in the Dallas metroplex 66 percent were single family homes. In all, 92 percent of all housing units were occupied, but only 59 percent were owner occupied.
When it comes to flipped homes, the Dallas metro ranked sixth among the nation’s top 10 metros for flipping during the third quarter of 2019.
Q3 2019 Home Flipping Figures for the Dallas Market
|Total Number of Flips||1,125|
|Home Flipping Rate||5.0%|
|Flipping Gross Profit||$47,075|
|Gross Return on Investment||24.4%|
Other highlights from ATTOM’s third quarter of 2019 Home Flipping Report revealed the following details for the Dallas metro area:
- Quarterly change in flipping rate was down 13 percent
- Year Over Year change in flipping rate was down 1 percent
- Median purchase price = $193,000
- Median flipped price = $240,075
With a flipping gross profit of $47,075 for the third quarter of 2019, investors’ gross return on investment was 24.4 percent, up 15 percent from a year ago. Home flips in the Dallas metro area were down in the third quarter of 2019 from their peak that occurred in the second quarter of 2006 when they numbered 1,485.
Flipped homes that sold in the Dallas metro area in the third quarter took an average of 175 days to complete the flip.