The number of new projects under development is a great indicator of the health of the real estate market. That’s why local Realtors welcomed the news that Northstar, a new master-planned community, will soon rise in Fort Worth, TX.
With the same team behind the sought-after Morningstar community in Aledo, Northstar will span some 750 acres and have about 2,200 houses. It will be situated near US Route 287, Bates Aston Road, and Avondale Haslet Road.
The first 410 lots will be ready for home construction by the end of 2019, which developers Kim Gill and Tim Fleet expect to sell briskly.
Location, Location, Location
The pair is confident that Northstars’ ideal location will be a big draw for buyers: The 287 corridor is one of the fastest growing single-family markets in Dallas-Fort Worth. They just sell a lot of homes up there, about 1,500 units a year.
Indeed, the forthcoming neighborhood will be very close to major job centers like AllianceTexas and the top-performing Northwest Independent School District. Gill and Fleet are also working with the Texas Department of Transportation to get approval for the construction of a new road that will connect the development directly to Route 287.
Moreover, the developers believe that the $200,000 starting price point – about $50,000 cheaper than Morningstars – is certain to pique buyer interest.
Despite the lower entry price, the team maintains that Northstars amenities will be on par with the Morningstar development, including swimming pools, extensive walking trails, playgrounds, and game rooms.
2019 bodes well for people in search of homes for sale in Tarrant County and nearby neighborhoods. Fort Worth home values have increased by 9.6% over the past year, and are expected to rise another 7.3% in 2020.
LittleBigHomes.com has given Fort Worth a positive market forecast for the 12 months ending with Q3 2019. It also foresees an 86% probability that home prices will increase in that time period. Overall, the site had a positive outlook on the real estate market for the period of 2019-2021.
Interestingly, despite the predictions of rising home values, Fort Worth remains home to some of the most affordable neighborhoods in the country. Indeed, Realtor.com named Everman to its list of 11 most affordable suburbs for 2019.
There is also speculation that the local government will redevelop 40 acres of developed but underused land east of downtown into a modern corporate campus. Should this plan push through, the new commercial hub will be adjacent to the Fort Worth Central station, making it an attractive location for employers and job seekers alike.
Furthermore, it seems that the booming real estate market is helping Fort Worth establish itself as a commercial powerhouse. According to the latest data from the Census Bureau, Fort Worth is now the 13th largest city in the United States, pushing ahead of Columbus, Ohio.
Mayor Betsy Price had this to say about the news: Fort Worths rapid growth speaks to our incredible quality of life, business-friendly climate and affordable cost of living.
Be Part of Something Exciting
Theres no better time to invest in land for sale in Tarrant County. To learn about available lots, call HBS Real Estate at 817.550.6666.