From the beginning of the "COVID impact" on our local real estate market, we have been tracking the health of our home values by monitoring "under contract" data to get real-time indicators. Since SOLD data is already 30+ days OLD by the time it's published, we use this info to determine what's happening with our market NOW.
BLUE is the 1st 10 day timeframe.
ORANGE is the midway 10 day timeframe.
GRAY is the latest 10 day timeframe.
Collin County - April 2020 to NOW
It's almost like any other summer buying season in Collin county... Healthy numbers from 200k to 500k. We are on an upward trajectory for homes being put under contract, with the higher-end ranges making a strong comeback from where we started. There are plenty of buyers hunting for a great home, so put your house on the market with confidence. More info available upon request.
Denton County - April 2020 to NOW
BELOW 300k, Denton home values are EVEN BETTER than Collin's! Buyers get way more bang for their buck here, so it's no surprise to see this kind of comeback. Their numbers never dipped as much as Collin or Dallas, which says a lot about how hungry the buyers are in Denton. This is also a great indicator of future value growth. Combine that with stellar rental return stats, it's a perfect storm for investors to act quickly before values inflate too much.
Dallas County - April 2020 to NOW
The water is pretty murky here, very unclear signs of a healthy market outside the 150k to 250k range. The demand for homes under 250k in Dallas county makes a strong case for sellers to act now to get top dollar. This overwhelming buyer demand is due to the number of entry-level buyers that NEED a home. Couple that with the sub 3% interest rates and it's like pouring gasoline on a fire! If you want to know more, please reach out and I will be happy to share more info.
We have come a LONG way on this deal! Our market is super strong, even without ridiculously low interest rates. The problem we WERE facing with the dwindling supply of homes (see last post) has gotten better as sellers gained more confidence in our local market. Even with more homes, there is always a shortage of MOVE-IN READY ones. So if you are planning to sell, you can ask for a boatload more with updates. If you are a buyer, embrace renovations and make changes to the lackluster homes that are still sitting on the market. Our blend of real estate and construction gives our buyers the power to transform the homes before they move-in. Read how custom homes can boost your lifestyle by matching how you do life.
Your Realtor for Life,
Broker & Texas Realtor
Lic # 0572885