Dumas, TX

There are many factors influencing real estate trends in the Dumas, TX metropolitan statistical area (MSA). The most significant factor is population growth. According to the U.S. Census Bureau, the population of Dumas increased by 9.4% between 2010 and 2018. This population growth is likely due to the strong economy in Dumas, which is driven by the agriculture and oil industries.

As the population of Dumas grows, so does the demand for housing. The number of housing units in Dumas increased by 8.3% between 2010 and 2018. However, this growth has not been evenly distributed across all types of housing. For example, while the number of single-family homes increased by 11%, the number of apartments only increased by 2%. This trend is likely due to a combination of factors, including a preference for single-family homes among buyers and a lack of available land for new construction projects.

The limited supply of housing relative to population growth has caused prices to increase rapidly in recent years. The median sales price of a home in Dumas increased from $85,000 in 2010 to $145,000 in 2018 – an increase of 70%. This trend is expected to continue as more people move to Dumas and competition for available homes increases.

Investors are also taking notice of the strong real estate market in Dumas. In 2018, there was nearly $100 million worth of commercial real estate sales in Dumas – an increase of 50% from 2017 levels. These investors are betting on continued population growth and rising prices as demand for housing continues to outpace supply