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October Newsletter- Happy Halloween!

Fall Pumpkins on Display – Photo by Monstera from Pexels

I would rather sit on a pumpkin and have it all to myself, than be crowded on a velvet cushion.

Henry David Thoreau

Fall is absolutely my most favorite season! I love it when the weather cools down and you start to see the changes in the colors of the leaves. The fact that nothing ever stays the same and that seasons come and go, helps us to appreciate them all.

We also see seasonality in the housing markets. Now, the impact of the pandemic has certainly changed much of what we deem as”normal” causing great demand and diminished supply. The North Texas markets have been experiencing much appreciation within the past 10 years as many companies have relocated here. Then the pandemic caused an even greater imbalance in supply and demand. You can see in this 10-year chart the seasonality as well as the pandemic impact.

The markets are showing some very slight signs of cooling. This can best be seen in the percent over list price in sales and a slight increase in the number of days on the market. Overal prices are still up from the same time last year.

Median Sales Price

SEPTEMBER 2021
Denton County
$399,000 | +20.2%
Collin County
$434,950 | +19.5%
Dallas County
$320,000 | +12.7%
Tarrant County
$312,125 | +18.7%

Median Price Per Square Foot

SEPTEMBER 2021
Denton County
189 | +22.7%
Collin County
$189 | +26.0%
Dallas County
$202 | +15.4%
Tarrant County
$173 | +24.5%

Months Supply

SEPTEMBER 2021
Denton County
1.0 | -33.3%
Collin County
0.9 | -43.8%
Dallas County
1.3 | -45.8%
Tarrant County
1.1 | -26.7%

Volume

SEPTEMBER 2021
Denton County
1,495 | -9.9%
Collin County
1,619 | -8.9%
Dallas County
2,412 | -3.3%
Tarrant County
2,702 | -4.2%

Percent of Original Price

SEPTEMBER 2021
Denton County
101.6% | +2.7%
Collin County
101.6% | +3.0%
Dallas County
100.0% | +1.7%
Tarrant County
101.0% | +1.4%

Days on Market

SEPTEMBER 2021
Denton County
7 | -53.3%
Collin County
7 | -56.3%
Dallas County
10 | -33.3%
Tarrant County
8 | -33.3%

Appraiser’s Corner

Check out this month’s information just for real estate appraisers. If you have information that you think would be good here, please let us know.

Free Webinar from George Dell

George Dell has been providing very valuable free monthly webinars. This month’s webinar is with Bruce Hahn and they will be discussing ways to avoid reconsideration of value. You can sign up for the free webinar here or click on the picture below.

Desktop Appraisals: Pros and Cons

Does a Variable Vary?

Will appraisers use Zillow purchases as comps?

The Housing Market Story Takes Different Shapes

What’s the Leaven Causing Home Prices to Rise Today?

Happy Halloween! Here’s a few fun articles in the Halloween Spirit

We hope you enjoy these articles and wish you a safe and Happy Halloween. Stay tuned for what the markets are doing next month!

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