Labor Day Weekend & the Housing Market- August Newsletter
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
Denton County
$322,950 | +1.0%
Months of Supply
Denton County
3.3 | +3.1%
Days on the Market
Denton County
25 | +31.6%
Volume
Denton County
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.
Grayson County
$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.
About The Author
Shannon Slater
Shannon is a Certified Residential Real Estate Appraiser and serves as the Vice President of the DW Slater Company. She joined David at the DW Slater Company in 2006. Shannon graduated Cum Laude from the University of North Texas with a BA degree. Prior to joining the DW Slater Company, she was an Elementary School Teacher for the Pilot Point Independent School District. Shannon is an FHA Certified Appraiser. Shannon is a designated member of the National Association of Appraisers and a member of the Association of Texas Appraisers. In her free time, Shannon enjoys spending time with her family, singing in a local church choir, and tandem cycling with her husband.
Thanks for the market update. I always enjoy seeing what your market is up to. Seems like prices are flattening out, no?
Yes definitely a flattening is occurring. We’ve been slowing and are now seeing a flattening. Thanks for your input!