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September Newsletter- It’s Fall Ya’ll

Few Signs of Cooling

Fall is always an interesting time here in North Texas.  Although we do not experience some of the beautiful fall colors or temperatures as other states, the weather does begin to change, leaves do begin to change their color and fall.  There is typically only about 1-2 weeks of pretty fall color so I always try to notice it before a big gust of wind comes through and blows all of the leaves to the ground. 

Just as we are experiencing a few signs now of the cooling of Fall, we are also seeing some, ever be it so slight, signs of cooling in the real estate markets.  We have been experiencing rapid appreciation in our markets due to very high demand for housing and very low supply.  The month of July showed a slight decline in the median sales prices in our 4 counties with the exception of Denton County.  Marketing times remain very low around 6 days and supply is relatively flat at around 1 month of supply.  Are the bidding wars cooling? When you look at the charts, you will see that this has cooled some from last month, however, homes are still selling over list price in all of these counties.  

Mortgage rates continue to remain flat and historically low. The 30 year fixed rate has been flat since August 12th. Low-interest rates continue to drive the demand for housing.

Median Sales Price

AUGUST 2021
 Denton County
$410,000 | +22.4% 
 Collin County
$440,000 | +18.9% 
Dallas County
$317,000 | +13.7% 
 Tarrant County
$310,230 | +19.3%

Days on Market

AUGUST 2021
 Denton County
6 | -60.0% 
 Collin County
6 | -66.7% 
Dallas County
8 | -50.0% 
Tarrant County
6 | -45.5%

Percent of Original Price

AUGUST 2021
 Denton County
103.0% | +4.3% 
 Collin County
103.4% | +5.1% 
 Dallas County
100.0% | +1.9% 
 Tarrant County
102.2% | +2.9%

Volume

AUGUST 2021
 Denton County
1,558 | -14.7% 
Collin County
1,744 | -8.3% 
Dallas County
2,461 | -1.4% 
 Tarrant County
2,792 | -3.2%

Supply

AUGUST 2021
 Denton County
1.0 | -41.2% 
 Collin County
1.0 | -44.4% 
 Dallas County
1.4 | -44.0% 
Tarrant County
1.1 | -31.3%


Appraiser Corner

We wanted to have a section in our newsletter specific to other appraisers, we can share information relevant to real estate appraisers

Free Webinar – Appraisers, we recommend the free webinars that George Dell has been offering.  Here is the next one he is offering with Peter Christensen of ValuationLegal.com 

Another Free Webinar –  Bradford Technologies is offering a free webinar on October 7th covering “Appraising in a Rapidly Changing Market”

What Should Appraisers Wear?

Finding Comps in Non Disclosure States

What is Critical Appraisal Theory?

7 Tips to Avoid Appraisal Problems in Today’s Crazy Real Estate Market

Infestations That Nibble Away Home Value

I Appraised Housing Down By The River


This September, we have been riding our tandem bike in the Great Cycle Challenge to help fight cancer, 200 miles. This will be our 6th year to participate in the Great Cycle Challenge. This year we are riding for a very special girl in our son’s youth group, Addison Graham. Every hill we climb and every mile we pedal will be to honor those lives we’ve lost and stand with those brave kids still fighting to survive.

If you’d like to help or just want to see our journey, you can click this link: Great Cycle Challenge


Want to Be on

TV?

We have a friend that is casting a renovation TV show in the Dallas Area. Would you or someone you know be interested?  Please feel free to share this link and information with others.


Thank you for reading our newsletter. Let us know if you have any questions or suggestions. We will continue to watch the markets to keep you informed of any changes we see.

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