December Newsletter

December 28, 2018

December Newsletter

Enjoy our monthly newsletter with our local market updates.

December Newsletter

Winter is coming. No this is not a weather forecast nor a promo for the next Game of Throne series but as we look at the markets we are definitely seeing a cooldown in our markets. The winter season is typically a slower season for real estate which is why we look at our markets year over year. When we compare the markets from the same time last year, there is definitely a slowdown. Denton county shows a decrease in the median sale price for the first time in 6 years and the rest of the markets show price appreciation at marginal levels and at a much lower pace than before. Typically the prices are the last thing to decrease, thus we also look at other metrics such as volume ( down in all 4 counties), the number of days properties are on the market (up in all 4 counties), and supply (up in all 4 counties). Our markets have been appreciating at such a rapid pace as population growth has created a very high demand for housing. Dallas-Fort Worth leads the nation in relocations this year with 246 people a day! Mortgage rates have climbed throughout this year but ended the year down slightly.Affordability is also becoming an issue for home buyers. Most likely, we are just heading toward correction and more stabilization of this rapid pace we have been in for the past five years. Will 2019 be a down year? Although we cannot predict the future as they are many things that impact real estate, we do not think that we are in a bubble or headed for a big crash. We do think that a slowing of the markets is reasonable as the rapid price appreciation is unsustainable. Decembers numbers are not yet finalized, we will do our complete year in review in next month's newsletter.

NOVEMBER 2018

Denton County
$305,500 | -0.4%

Collin County
$323,764 | +1.2%

Dallas County
$235,000 | +2.2%

Tarrant County
$225,000 | +4.2%

NOVEMBER 2018

Denton County
$138 | +4.5%

Collin County
$136 | +3.0%

Dallas County
$132 | +4.8%

Tarrant County
$120 | +8.1%

NOVEMBER 2018

Denton County
1,003 | -11.4%

Collin County
1,122 | -14.5%

Dallas County
1,686 | -16.4%

Tarrant County
1,944 | -7.3%

NOVEMBER 2018

Denton County
34 | +47.8%

Collin County
39 | +39.3%

Dallas County
23 | +15.0%

Tarrant County
21 | +23.5%

NOVEMBER 2018

Denton County
3.0 | +30.4%

Collin County
3.4 | +25.9%

Dallas County
2.9 | +16.0%

Tarrant County
2.3 | +15.0%

Our 31st Anniversary

This month marks our 31st year of service to the DFW area. We are thankful to all of our clients that trust to provide quality appraisal services and look forward to continue servicing in 2019.