Labels

Denton and Collin County Markets Year in Review

Low Supply, High Demand, Price Appreciation, and increase in New Construction. As we begin a new year, it is a great time to take and look back at what our markets did in 2016.  We publish monthly newsletters with monthly updates for Denton, Collin, Cooke and Grayson counties. Please click here to go to our website, scroll to the bottom and select "subscribe to our newsletter". You will be able to get a monthly update, links to our blogs and other relevant real estate information. Let's take a look at Denton and Collin counties.  





                 
Market Trends






New Construction


With supply being low, new construction is important to help increase the supply of available homes. When looking at the number of building permits from the Census data, you can see a dramatic decline in new construction in Collin County from 2005.  The numbers are still not at the levels they were in 2005.  There has been a significant increase in SFR building permits in Denton County and they are now at the highest level.  






REO Sales


Here is a look at REO (foreclosure) sales.  There is a been a significant decline in the number of foreclosure sales in the past three years and this declining trend continues.


We do not make market predictions as there are too many variables that could impact our real estate markets.  We do follow historical and current market trends.  If the supply of homes increases with new construction this may impact the current trends. If you would like to receive monthly market updates for Denton, Collin, Cooke and Grayson counties, subscribe to our monthly newsletter at www.dwslaterco.com.   Also, contact us if you have any questions about real estate appraisals or need appraisal services and we would be glad to assist you. 
Disclaimer:  Information is from the NTREIS MLS data and the US Census data. All information deemed reliable but not guaranteed. The information is meant entirely for educational purposes and casual reading only and is NOT intended for any other use.  This information is NOT intended to support an opinion of value for your appraisal needs or any sort of value conclusion for a loan, litigation, tax appeal or other potential real estate or non real estate purpose.  If you’d like to obtain additional information or order an appraisal for your specific needs, please contact us at www.dwslaterco.com.
         
Labels:

Comments

  1. Gabe SandersJanuary 28, 2017 at 12:49 PM

    With an appreciating market like this, do you calculate an increase in value for comps that are past 60 or 90 days out?

    ReplyDelete
    Replies
    1. Shannon SlaterJanuary 28, 2017 at 2:00 PM

      Great question, Gabe. This is a look at all sales within each county so of course there will be smaller submarkets that show different levels of appreciation. If there are not comparable sales within 90 days and that particular submarket for similar homes shows appreciation, then appraisers can make a time adjustment for those sales. Appraiser's will also look at any similar active or pending listings to get an understanding of the current/future market for similar properties.

      Delete

Post a Comment

Popular Posts