Summer is here! The summer equinox has occurred. June 21st was the longest day of the year, well it was still 24 hours, but it is the day with the most sunlight. This day was also special to us personally as we had a son marry his bride on this special day! The wedding was beautiful and they were able to capture some beautiful sunset pics. We appreciate our clients who were accommodating, understanding and sent us well wishes while we were out of the office a few days for the wedding.
So what is going on in our markets? Buyers are gaining a little more leverage in North Texas. Home prices are still rising but at a slower pace. We have been reporting this for the past few months. What is becoming apparent is that homes are staying on the market longer and the supply is increasing. Mortgage rates continue to decline. Check out the stats and interactive charts we have in the monthly market updates below.
We also wanted to share some exciting things going on in our area.
- Futuristic Flying in DFW– Did you know that Uber is going to having its first flying taxi service in DFW? The skyports are set to start flying in 2023. Are we going to be the first Jetsons?
- Blue Lagoon Time-The first crystal lagoon in Texas is now open in Denton County in the Windsong Ranch development. We will watch to see how this 5-acre pool/beach/lagoon impacts the prices in this development.
- Frank Lloyd Wright– Do you love Frank Lloyd Wright architecture? There are plans to renovate the historic Kalita Humphreys Theater in Dallas.
- Crazy Water- Speaking of renovations, the Baker Hotel in Mineral Wells has plans for renovations will substantial backing. Many have dreamed of this for years but this time it looks like it may actually happen. This famous historic hotel in Mineral Wells has the most stories of any hotel in the US located outside of a metropolitan area. Years ago famous people traveled and stayed there for the spa and a chance to get into the spring water from the natural wells referred to as “crazy water”.
Monthly Market Updates
Median Sales Prices
$313,050 | +3.3%
Median Price Per Square Foot
$138 | +3.0%
Months Supply of Inventory
3.1 | +29.2%
Median Days on Market
26 | +44.4%
1,616 | +2.6%
Great Cycle Challenge
Last month we shared that we are participating in the Great Cycle Challenge. We are finishing up this month but there is still time to be a part. We were honored to be featured on the Great Cycle Challenge page. The Great Cycle Challenge has 80,270 riders this year and so far we have raised $7,741,337 to go to cancer research. If you would like to help this worthy cause see below:
We wish you a great start of your summer and look forwarding to reporting back to you in July. If you are in need of a residential or commercial appraisal service please contact us at www.dwslaterco.com