FAIRVIEW, TEXAS! Homes on Land vs. Neighborhood Homes – Which Holds Value Better?

I want you to know about Fair View, Texas. Fair View is absolutely one of my favorite parts of all of North Texas, all of DFW. And a lot of people are kind of unfamiliar or like loosely familiar with the boundaries of Fairview. It's it's very much in that northeast Allen pocket south of McKini, Princetonish, west of Princeton, Leavon, um in between Allen and McKini generally without it's it's a jaggedy boundary, right? So, I'm not going to give you necessarily a bunch of bunch of highways and things, but east of Central, north of Allen, south of McKenna and Princeton. A really cool, not terribly large, really cool pocket there. And it's got gosh, it's got to be one of my top two favorite neighborhoods in all of DFW. Um, it's got some old, mature, cool, welcoming feel to parts of Fair View and then there are some very new retail awesome new construction parts of Fairview as well. And so I love this because I think there's a lot worth learning about in North Texas. I mean all over North Texas, but especially in Fairview. So Fairview is highly highly regarded for nice homes, a lot of larger lots, a very clean, fresh, inviting community. It's well-run. Lovejoy School District is pretty much the Fairview, one of the big Fairview draws. And so there's a lot of people moving into kind of newer homes up there. Uh really enjoying great schools, great restaurants, great shopping like Ian was talking about. Some big box stuff, massive newer shopping centers, but again also some kind of cool older sleepier is probably not the right word, but charming is the word I'm looking for there. Uh retail as well as like just the essentials. My favorite spot for those that want to know my favorite neighborhood in Fair View is Timberwood is what I call it. It's such a kind of quiet small pocket that most people don't refer to it kind of by neighborhood name, but you're talking about kind of Angel Parkway dead ends into it. Angel Parkway and Stacy. It's It's like drops in elevation. There's some movement, some up and down in there. There's no two lots that are the same. There's no two houses that are the same. Everything's got size as far as like a half acre or more that it tend to be larger homes, but they're not all these big battleship showplaces. There's real charm and class and uniqueness. There's some kind of quirky ones in there. Uh the lowerlying ones have big big mature trees. The higherly ones have some cool views and things. That's one of my favorite places. Uh literally in my top three neighborhoods in DFW for sure. Maybe top two. There's also some really cool there's a there's a great golf course there. There's a 55 plus community right near that golf course that like people kind of need to know about. Uh we're talking about Heritage Ranch. Um by need to know, you should check it out, especially if you have you're considering a 55 plus community or anybody you know. Let's get into some specifics about Fair View. I I've got a statistic here, Ian, that I would have seen coming, but it's it's it's fascinating how accurate it is. So, you look at home values. Y um why don't you comment a little bit about neighborhoods and I've got I've got an observation on the homes on land that I would love to share. Yeah. We look at kind of the last six years of neighborhood homes and we're going to say under an acre. And the reason 6 years is an interesting timetable is because it's basically CO and beyond kind of precoid. Yeah. Just right barely before precoid because that first year of CO we didn't see what we saw in the next couple years. So you got pre-COVID, through COVID, postcoid. In 2020, uh your average home price, you know, you've got a similar number of homes for sale. It's kind of in that 80 to 100. In 2020, it's 360K. 21 443. Yep. Big jump. 22 520. Big jump. 23 510. Totally predictable. We're seeing it all the way across the market. Basically flat. Little bitty drop. 24 520. Little bitty bump. 25. So this year currently 439, right? And now current statistics, anytime we give you 2025 numbers, we always caution you. Yeah. That's unreliable because you're only seeing probably the first month through May, maybe not even June. And so you're missing a lot of the heat of the market. So that number will probably average up by the end of the year. So you're seeing that 360 to 443, 443 to 520, big, big, big jumps. And then you're seeing mortgage rates change, the world change, economics change kind of flat for 22, 23, 24, and then year to date 25 down. But my prediction by the end of 2025 that will feel either slightly down or flat. Now, let me tell you how different the homes on land, market, let me let me show you homes on land. And Fairview is well well I shouldn't say well known because we're kind of talking about how often people don't really know a lot about Fairview but in the real estate community. I love Fairview for homes on land. There are some absolutely gorgeous properties in Fairview that are on a halfacre or more. Lots of the 1 2 3 4 acre properties and I mean like generational don't sell that house, leave it to your kids. This is an incredible property type place. 2020 the average price for a home on land in Fairview was 740,000. Obviously these are higher price homes typically. 2025 1.48. So you almost exactly see a double. I mean that is exactly double but that's the average right? So your average price has doubled even in the market where a lot of areas have kind of gone flat. So from 2020 to 2025 for small acreage property in Fairview, we went 740. Look at this jump Courtney to 12 in one year. 740 to 12. Then we went 129 123 little bitty dip 138 back up and 148 back up again. So we did almost all of that doubling in that postcoid market where people were like, I'm out of here. I want space. I'm working remote. I can afford it. I want to live in a beautiful place surrounded by beautiful places with great schools, with great shopping, with great retail, but I want to be kind of out on the edge. I want some trees. I want Fairview and they went and got it. And then since then, we've gone from 125 to 148. Yeah. They Well, and and Fairview is one of those markets where people are kind of going to get what they want. It's a really incredible market that is a goal for a lot of the people like to get a little further out, get a little more land, get a little more house, and just love where I live. And I'm telling you, pretty much everyone I know who lives in Fairview, and I know a lot of people that live there absolutely love it. I I mean, I just you just don't hear complaining about Fairview, Texas, folks. So, that's kind of the value stuff. We talked about some of the misunderstandings about Fairview. talked about the location, but there are more homes on land there than in a lot of DFW areas. It's it's a big chunk of that market. And as you know, we love homes on land. Um, days on market is still pretty darn low there compared to a lot of other surrounding markets, which just tells you it's it's still a competitive, desirable market. And there's about 3 months worth of houses on the market in Fairview right now, which is still kind of a sellers market. Not a crazy seller leverage, but but sellers have pretty good leverage there. And it's a good time to be getting in there because home values haven't gone crazy lately, but they're still on the rise. There's no reason to think they would go down. And I'm just telling you, if you haven't driven through Fairview, Texas, if you're local or you're visiting the area, holler at us. will gladly go and tell you and show you Fair View, Texas. Partially because we like driving through Fair View, Texas. Also because it is a heck of a place to live and work and play. Check out Fairview, Texas.