The month of May is full of special events, such as Mother's Day, Armed Forces Day, Memorial Day and Graduations. It is also a busy time for real estate. In many markets it is one of the busiest selling months. Mortgage interest rates are still low with current interest for a 30 year fixed rate at 3.66%. You can see current average mortgage rates on our website. We are still seeing high demands and low inventories in our markets. Here is a quick look at our four main counties of coverage:
As you can see from the chart, Collin and Denton Counties continue their increases in the median sale prices. Collin County is up 9.9% and Denton County is up 5.7% YOY. Grayson and Cooke Counties are both slightly down YOY with Grayson County down 2.6% and Cooke County is down 0.4%.
Here is a quick look at inventories for the four counties. Inventories for Collin and Denton Counties are up slightly from last year. We are seeing more new construction sales which may have helped with the increase. A balanced supply of inventory is around 6 months. Cooke County is the only market close to that at 5.5 months current supply. We will continue to track inventories in our markets and their impact.
DW SlaterCompany Blog
In case you missed it, our latest blog discusses Regression Analysis. What is it? How do appraisers use it? We define it and share examples of how we use it in our appraisals.
Bearcat Color Run Sponsors
The DW Slater Company was proud to be one of the sponsors for the local Bearcat Color Run. This was a fun event benefiting our local schools.