Welcome to my Blog! I am glad you are here! The purpose of this blog is to provide information about real estate appraisals, appraising, and market trends. I have been with the DW Slater Company for 10 years and enjoy appraising real estate. I have found that there are many misconceptions, misperceptions and misunderstandings about what appraisals are and what appraisers do. Please contact me if you have questions about your appraisal or appraising!
We are in the middle of summer and summertime heat in North Texas! We hope that you are able take a little time this summer to enjoy some time in the sun or escape the heat perhaps by traveling north or to the mountains. We recently made a trip out to West Texas and escaped the heat in the Davis Mountains. We loved the views and the cooler temperatures and the fact that we never left the great state of Texas to see mountains!
The median sales price for all 4 counties have been experiencing consistent appreciation.
Denton County $305,000 | +7.8%
Collin County $339,995 | +7.9%
Dallas County $242,500 | +7.3%
Tarrant County $225,000 | +10.8%
When looking at the inventory, we are starting to see an increase in supply for Collin County, but all four counties have inventories of less than 3 months, with Tarrant County the lowest supply.
Here is a look at the Median Price Per Square Foot for the 4 counties. You can see that Dallas Price Per Square Foot has fluctuated more in the past five years.
Denton County $132 | +8.2%
Collin County $135 | +8.0%
Dallas County $133 | +14.7%
Tarrant County $111 | +9.9%
Here is a specific look at Collin & Denton Counties median sales price and the number of sales since 2007. You can see that in terms of volume June and July are typically the highest selling months in terms of the number of sales. The median sales price and volume are at record levels.
New Construction Data- Collin County
Per Texas Real Estate Center the current number of building permits for Collin County is 8,197 units for 2016. Collin County is far from the number of new builds as in 2005
New Construction Data- Denton County
There were a few less new construction sales in 2016 at 6,212 compared to those in 2015 which is the highest number at 6,594. The data is from the Texas A&M Real Estate Center.