We hope that you have some great plans for labor day weekend. We have had a very busy month of August. We know that you work hard to provide good services or products in your businesses and we hope that you do get to enjoy a little time off from your labor. Whether you are making a last-minute trip or staying home for some downtime, make it a great weekend!
Our thoughts are with you that are in the path of Hurricane Dorian our prayers for safety from this unpredictable storm.
The summer months have ended up strong but flat. Sale volume is up. Sale price appreciation year to year is flat. Days are on the market are still increasing and supplies are up in Dallas and flat in the other markets.
Here’s a current look at the market trends- don’t forget to hover over the charts for more information.
Median Sales Price
$322,950 | +1.0%
Months of Supply
3.3 | +3.1%
Days on the Market
25 | +31.6%
1,660 | +13.6%
Grayson & Cooke Counties
We wanted to also share an update on some of our more rural markets. We appraise in Cooke and Grayson counties. We have been seeing sale prices rising in these more rural, less dense markets. Some of this is due to affordability. As the prices in the North Texas market have been increasing, many are searching further north to find more affordable homes.
$206,500 | +11.9%
What’s up with Mortgage Rates?
Mortgage rates are still at historically record lows. Per Freddie Mac, the current 30 year fixed rate is 3.58%. Although rates are low and the economy strong, we are not having the housing boom you might think. We are seeing boom in refinances but supply, affordability and the cost of construction are keeping a damper on housing.
Again, we wish you a wonderful Labor Day weekend and if you have any questions about real estate appraisals or services don’t hesitate to contact us at www.dwslaterco.com.