February 2024 showed positive trends in terms of increased new listings, active listings, and a decrease in days on market across North Texas. However, closed sales varied, with some counties experiencing notable declines. Additionally, while the average sales price increased in most counties, Collin County stood out with a slight decline. These variations indicate a dynamic real estate market with differing trends across different counties in North Texas.
New Listings: – Overall Trend: All counties experienced significant increases in new listings compared to February 2023, indicating a surge in properties entering the market. – Notable Difference: Collin County saw the highest increase at 46.6%, while Denton County followed closely with a 38.6% increase.
Active Listings: – Overall Trend: Active listings rose across all counties, suggesting growth in available inventory compared to February 2023. – Notable Difference: Dallas County had the highest increase at 30.9%, while Denton County had a notable rise of 20.6%.
Days on Market: – Overall Trend: Days on market decreased in most counties, indicating properties sold faster compared to February 2023. – Notable Difference: Denton County experienced the most significant decrease at 12.7%, while Tarrant County saw a more modest decline of 1.9%. Rockwall County was an outlier with a 13% increase in days on market over February 2023.
Closed Sales: – Overall Trend: Closed sales varied across counties, with some experiencing slight declines while others saw more significant decreases compared to February 2023. – Notable Difference: Denton County had the highest decline at 11.8%, whereas Collin County saw a slight decrease of 2.9%. Rockwall County was an outlier with a 3.9% increase in closed sales over February 2023.
Average Sales Price: – Overall Trend: The average sales price increased in most counties, indicating a positive trend in pricing compared to February 2023. – Notable Difference: Collin County experienced a slight decline of 1.3% in average sales price, contrasting with the overall upward trend observed in other counties.
Our stats infographics include a year over year comparison and area highlights for single family homes broken down by county. We encourage you to share these infographics and video with your sphere.
Spring is a wonderful time to explore the Dallas-Fort Worth area and experience some of the exciting festivals and events that take place during this season! From cultural celebrations to food festivals, there’s something for everyone to enjoy. Check out some of our favorite Spring Festivals below or download our list of Spring Festivals and Events in the DFW Area Resources section on our website here: https://www.republictitle.com/dfw-area-resources/
Happy first day of Spring! It’s time to get your home ready for the warmer weather! Get ahead of the game with our helpful tips for spring cleaning and maintenance. From deep cleaning your kitchen to exterior inspections, we have all the tips you need to make your home sparkle and shine.
INTERIOR
• Inspect and change out HVAC filters. • Clean kitchen sink disposal. • Clean range hood filters. • Inspect your fire extinguisher(s). • Get your air conditioning system ready for summer; empty drain pans, check hose connections for leaks. • Consider getting an HVAC technician to service your system biannually. This will help it run optimally year-round. • Inspect your attic crawl spaces. Look for signs of vermin infestation. Contact a pest control professional if any concerns arise. • Run water and flush toilets in unused spaces. • Check water softener and add salt if needed. • Test your water heater’s pressure relief valve. • Test smoke/carbon monoxide detectors and replace batteries if necessary. • Spring cleaning! Now is the time to give your house a deep clean.
EXTERIOR
• Get your lawn ready for the warm temperatures. Clear your yard of any debris and aerate your lawn if needed (you might need a professional to do this.) • Early spring is the best time to lay pre-emergent herbicide. This will prevent weeds from growing. • Check exterior drainage & clean out gutters. • Inspect the exterior of your home for soil erosion and add fill dirt/sod if needed. • Inspect roof for damage, leaks and missing shingles. • Inspect exterior walls including eaves for any cracks or holes where insects or critters could enter. • Check seals around windows, caulk if necessary. • Check for loose, warped or splintered boards on your deck/patio. Now is a good time to seal/stain if needed. • If you stored your lawn furniture for the winter, bring it outdoors and give it a rinse or wash with a mild detergent. • Go ahead and have a little fun! Plant seasonal flowers to add color to your landscape. Flowers that thrive in spring in North Texas are cosmos, marigolds, zinnias and pentas.
Whether you’re a lifelong resident or new to the area, there’s always something new to discover about your neighborhood. With that in mind, we created a Fast Facts sheet for cities and neighborhoods all over the DFW area. Our DFW Area fast facts have detailed real estate insights, things to do, places to shop and some of our favorite restaurants in each area.
Mesquite, Texas, is a bustling suburban city located east of Dallas. With a rich history rooted in its Western heritage, Mesquite offers a blend of modern amenities and small-town charm. The city boasts numerous parks, recreational facilities, and cultural attractions, making it a vibrant community with a strong sense of identity and community pride.
Head to our website now to get all the details you need to stay up-to-date and in-the-know about your local neighborhood. Your community is waiting for you! republictitle.com/dfw-area-city-fast-facts
POPULATION
148K
AVERAGE HOUSEHOLD INCOME
$58K
MEDIAN AGE
38
HOUSING
62% OWN 38% RENT
AVERAGE SALES PRICE
$301K
AREA ACTIVITIES & FEATURES
• SPRAY ZONE AT CLAY MATHIS PARK • WESTLAKE SPORTS CENTER • MESQUITE GOLF CLUB • TOWN EAST PARK • PASCHALL PARK DISC GOLF • PORTER PARK • MESQUITE ARTS CENTER • CORNER THEATRE • CELEBRATION STATION • SAMUELL FARM • FLORENCE RANCH HOMESTEAD | HISTORY EXHIBIT
FAVORITE LOCAL DINING & DRINK SPOTS
• ATHENEOS GREEK VILLAGE CAFÉ • YIA YIA’S HOUSE OF GYROS • POSADOS CAFÉ • CAFÉ DEL RIO • BUBBA’S 33 • • DIA DE LOS TACOS • MESQUITE BBQ SINCE 1959 • • ALEJANDRO’S AT FRONT STREET STATION • BEAR CAVE COFFEE • BIG BOI’S CHICKEN AND WAFFLES • JOE’S PIZZA & PASTA • DOS PANCHAS • THE BULL’S PEN CAFÉ • • TINO’S RESTAURANT • MESQUITE DINER • PEPPER’S CAFE • • COUNTRY DINER CAFE • CATFISH COVE • JUICY SEAFOOD AND BAR • JAMAICA COOK SHOP • BLACK BEAR DINER • KAZE SUSHI & HIBACHI • MR TERIYAKI •
FAVORITE LOCAL SHOPPING
• MY STYLE BOUTIQUE • BELLA’S WESTERN WEAR • TOWN EAST MALL • BIRDS OF A FEATHER SHOPPE TOGETHER • • ANTIQUE GALLERY •
AVERAGE DRIVE TIMES
• DOWNTOWN DALLAS | 25 MINUTES • DALLAS LOVE FIELD AIRPORT | 35 MINUTES • DFW INTERNATIONAL AIRPORT | 35 MINUTES • AT&T STADIUM & GLOBE LIFE FIELD | 45 MINUTES • DOWNTOWN FORT WORTH | 60 MINUTES
When it comes to purchasing a home, the excitement of finding the perfect property can often overshadow the importance of ensuring the title is clear and free of any disputes. Yet, overlooking this crucial step can lead to significant financial and legal ramifications. This is where title insurance steps in as a guardian of your investment, providing assurance and protection against unforeseen risks. In this Republic Title Tip, we delve into the significance of title insurance for homebuyers, shedding light on why it’s an indispensable aspect of the real estate transaction process.
What Is Title Insurance?
First and foremost, let’s unravel the concept of title insurance. In essence, title insurance is a specialized type of insurance that indemnifies homeowners against loss arising from defects in the title or ownership of a property.
Unlike other forms of insurance that protect against future events, title insurance is a one-time premium and focuses on mitigating risks associated with past events that may affect the property’s legal ownership.
Why Is Title Insurance Necessary?
Consider this: When purchasing a home, you’re not just acquiring the physical structure and land. You’re also buying the legal history.
By conducting a comprehensive title search, title insurance companies unearth any potential clouds on the title, such as unpaid taxes, liens, undisclosed heirs, or unresolved legal disputes. If an issue arises after purchase, title insurance provides coverage for loss, costs, attorney’s fees, and expenses, thereby shielding homeowners from financial liabilities that could otherwise jeopardize their investment.
Title Insurance for Ownership Disputes
One of the primary risks title insurance protects against is the threat of ownership disputes. Imagine purchasing your dream home, only to discover months or even years later that another party has a legal claim to the property.
Such scenarios can arise for various reasons, including errors in public records, forged documents, or undisclosed heirs asserting their rights to the property. Without title insurance, resolving these disputes can entail lengthy and costly legal battles, potentially resulting in the loss of your home and investment.
Title Fraud, Errors, and Property Easements
Moreover, title insurance also guards against title defects that may arise post-purchase. These defects can range from errors or omissions in the title documentation, fraud, or forgery, to someone else having an easement on your property, or no access to your property. Without adequate protection, homeowners could find themselves facing substantial financial burdens to rectify these issues or even risk losing their property altogether.
Republic Title understands the significance of title insurance in safeguarding their clients’ investments. As a trusted resource and industry expert, they go above and beyond to ensure your real estate transactions are conducted with the utmost diligence and integrity. Their team of experienced professionals conducts thorough title searches, leveraging technology and industry expertise to identify and mitigate any potential risks to your investment.
Republic Title offers a range of title insurance policies tailored to meet the unique needs of homeowners and lenders alike. Whether you’re purchasing a new home, refinancing an existing mortgage, or conducting a commercial real estate transaction, Republic Title can provide comprehensive coverage and exceptional service at every step.
Title insurance is not just another box to check off during the home-buying process — it’s a critical safeguard covering title risks. By partnering with Republic Title, you can trust your real estate transactions are in expert hands, backed by decades of industry experience and a commitment to excellence.
Republic Title is pleased to offer a variety of continuing education classes for our customers. Join us in March for classes including:
Cybersecurity Basics for Brokers & Agents This class will help licensees understand the importance of being ‘cyber- vigilant’ in addition to learning steps to take in order to protect themselves and their clients from cyber-attacks. March 5th 10:00 am – 11:00 am Zoom
Step Up Your Instagram Game In today’s real estate market, Instagram marketing is essential to showcasing who you are and connecting with your sphere. Are you ready to take your Instagram to the next level? Join us in this class for a complete guide to Instagram including ways to enhance your bio, tools for creating great content, how to target and attract buyers and sellers, and much more! March 5th 10:00 am – 11:00 am Republic Title Preston Legacy Office
Survey Issues Join us for this class intended to help licensees understand surveys and the applicable paragraphs in the TREC 1-4 Family Residential Contract and prepare them for any potential survey issues that may arise. March 6th 12:00 pm – 1:00 pm Republic Title Frisco Office
Definitions & Rules of the Forward 1031 Exchange In this class, you will learn how the general workings of a 1031 Exchange can be very beneficial to agents who work with investors. This class will help you recognize potential situations that may warrant or justify a 1031 Exchange for your client. March 7th 10:00 am – 11:00 am Republic Title Preston Legacy Office
Incredible Canva Tips and Tricks Boost your listings and properties easily and efficiently using Canva’s beautiful real estate templates. Join us to learn new tips and tricks to make designing even easier and make marketing one of your new favorite tasks! March 12th 10:00 am – 11:00 am Zoom
New Forms Editor – zipForm® The new forms editor in zipForm® introduces several intelligent and intuitive features, giving agents and brokers everything they need to prepare and send forms faster than ever. With a new and improved workspace, you can autofill forms, fill out multiple forms at once, mark up documents, add personalized clauses and quickly add signers and property information. March 14th 10:00 am – 11:00 am Republic Title North Dallas Office
TREC Legal Update I Material mandated by TREC: Legal Update I covers various topics related to changes in regulations, forms, and standards of practice in the real estate industry including: TREC statute and rule updates, an overview of changes to and best practices for promulgated contract and addenda forms, and updated information on fair housing and property management laws and regulations. March 19th 10:00 am – 2:00 pm Republic Title Uptown Office
It’s All Foreign to Me This class will cover many areas of a transaction involving a non-US citizen including Foreign Investors Real Property Tax Act (FIRPTA), Foreign Wills, Mexican Matricula Consular and Foreign Acknowledgments. March 19th 10:00 am – 11:00 am Republic Title Preston Legacy Office
Mortgage Tools for Buyers and Buyers Agents
Tools Discussed: (1) Real Estate Report Card: Shows potential clients the health of their local market using metrics like home inventory, affordability index and appreciation (2) Buy vs Rent Comparison: Allow you to compare your estimated monthly payment for renting, or buying but also includes additional analytics. Estimate of the homes future value ass well as the possible tax savings you could realize when buying a home (3) Investment Property Analyzer: Cash flow estimate year 1 through 10, cash on cash return, overall Expected ROI (4) Cost of waiting analysis: Estimate the cost of waiting to purchase
Guest Instructor: Kyle Wilcox | Business Development Manager, ITrustLendingTeam *No CE provided – for informational purposes only* March 19th 2:00 pm – 3:00 pm Republic Title Frisco Office
New Forms Editor-zipForm The new forms editor in zipForm® introduces several intelligent and intuitive features, giving agents and brokers everything they need to prepare and send forms faster than ever. With a new and improved workspace, you can autofill forms, fill out multiple forms at once, mark up documents, add personalized clauses and quickly add signers and property information. March 20th 10:00 am – 11:00 am Lakewood Country Club
Top Ten Contract Addenda Join us to review 10 of the most commonly utilized TREC contract addenda including Third Party Financing Addendum, Addendum for Backup Contract and more. APPROVED TREC CONTRACT COURSE. March 20th 10:00 am – 11:00 am Zoom
DocuSign Dynamics Unleash the full potential of a paperless workflow with DocuSign®. Our engaging, hands-on class dives right into the heart of DocuSign®, empowering you to sign and send documents effortlessly from any corner of the globe. March 21st 10:00 am – 11:00 am Zoom
The State of Insurance in Texas
Insurance market conditions are drastically changing in Texas. This course will explore contributing factors, the effect on the real estate process and solutions to best help your clients.
Guest Instructor: Todd Campbell with Farmers Insurance *No CE provided – for informational purposes only* March 21st 10:00 am – 11:00 am Republic Title North Dallas
TREC Legal Update I Material mandated by TREC: Legal Update I covers various topics related to changes in regulations, forms, and standards of practice in the real estate industry including: TREC statute and rule updates, an overview of changes to and best practices for promulgated contract and addenda forms, and updated information on fair housing and property management laws and regulations. March 27th 10:00 am – 2:00 pm The Lakes at Castle Hills
Despite mortgage rates continuing to fall from their elevated level, housing sales haven’t rebounded. The average price has fallen alongside home sales, with homes costing $2,000 less than in November. Single-family starts increased while permits moved downward. Homes sat on the market for longer in December as average days on market reported its first increase since the beginning of the year.
Home Sales Fall Alongside Listings
Mortgage rates continued to fall, but their elevated level remains problematic for homebuyers as Texas’ total home sales fell 1.9 percent month over month (MOM) to 25,430 (Table 1). Among the Big Four, San Antonio reported the only gain in home sales, jumping 7.1 percent to 2,684. Houston’s home sales decreased by 16.6 percent, losing over 1,000 sales in December. Austin and Dallas also experienced losses, falling by 9.2 percent and 3.5 percent, respectively. The gap between Houston and Dallas widened as Houston reported poor monthly sales. Despite rates falling, they remain elevated, resulting in an affordability problem for homebuyers.
The state’s average days on market (DOM) climbed to 57, marking the first increase since April. This increase suggests longer listing times could be approaching. All four of the major metros experienced increases in DOM with Houston (50 days) and Dallas (49 days) rising by seven and four days, respectively. Austin (77 days) and San Antonio (68 days) had minor fluctuations from the previous month.
Housing supplies remained elevated, but active listings fell for the first time since May, falling to 103,395 listings. San Antonio (12,254) was the only one of the Big Four to post a monthly increase at 1 percent. Austin had the largest drop in active listings with a 13.3 percent loss to 8,307 listings. Dallas (22,056) and Houston (24,770) had moderate reductions. Despite the fall in active listings in December, levels are still on pace with 2019.
The state’s new listings fell 1.89percent to 42,658 in December. All four of the major metros posted monthly decreases of between 2 and 4 percent. Austin had a 2 percent decrease to 3,766 listings while San Antonio had the largest decrease at 4 percent. Amid the fall in active listings, the months of inventory (MOI) experienced a small decrease to 3.6 with Austin contributing heavily to the fall, dropping over 10 percent.
Mortgage Rates Continue to Plunge
Treasury and mortgage rates continued to fall amidst rumors of interest rate hikes being finished. The ten-year U.S. Treasury Bondyield fell 48 basis points to 4.02 percent. Likewise, the Federal Home Loan Mortgage Corporation’s 30-year fixed-rate fell 62 basis points to 6.82 percent. If rates continue to fall into the start of 2024, housing affordability should improve.
Permits Unchanged, Starts on the Rise
Texas’ single-family construction permits moderated just shy of a quarter of a percent decrease from November, falling to 12,392 issuances. Dallas and San Antonio had monthly dips falling 5.3 percent and 12.9 percent, respectively. Houston and Austin both experienced minor fluctuations of less than ten issuances.
Construction starts grew while construction permits remained effectively unchanged, according to data from Dodge Construction Network. Single-family starts increased 2.5 percent MOM to 12,222 units. Despite the Texas increase, San Antonio (8,08 starts) reported the only monthly increase among the Big Four, rising 20.6 percent. Austin (1,392 starts) fell 13.6 percent, making the ratio of Austin to San Antonio starts fall under the typical 2:1 ratio. Dallas (3,250 starts) and Houston (3,448 starts) continued to outperform the rest of the state, combining for 55 percent of total starts.
The state’s year-to-date total single-family starts value climbed to$29.8 billion, up from $27.7 billion in November. Starts values continued to mirror 2019 values since May, however, value fell just outside the $1 billion dollar threshold in December. Houston and Dallas accounted for over 60 percent of the state’s construction value.
Median Home Prices Fall Despite Big Four Rising
Texas’ median home price fell 0.7 percent to $332,300 (Table 2). Among the Big Four metro areas, Dallas posted the only decrease, falling by 1 percent. Austin saw the greatest price boost with a 4.2 percent gain, raising the price to its highest level since January. Home prices across the Big Four remain above pre-COVID prices.
Home prices continued to hover around $200,000-$300,000 and $300,000-$400,000, accounting for 26 and 24 percent of total home sales, respectively.
The Texas Repeat Sales Home Price Index (Dec 2004=100) fell 0.9 percent MOM but remains 2 percent up from the previous year. Houston had the highest annual appreciation at 2.6 percent YOY increase while Austin showed the lowest annual appreciation at negative 3 percent.
Source – Joshua Roberson and Koby McMeans (February 20, 2024)
When navigating complex property transactions in Texas, having a trusted partner like Republic Title can make all the difference. Republic Title has long been recognized as a reliable resource for homeowners and real estate professionals, offering invaluable insights and solutions for various issues, including the critical aspect of survey deletion coverage. In this article, we will provide a comprehensive understanding of this essential component of title insurance.
What is Survey Deletion Coverage?
Survey deletion coverage, also known as survey coverage or survey amendment, covers any errors and omissions by a surveyor. This coverage provides assurance the survey of the property is accurate, that all improvements are accurately depicted, and that the property lines are properly defined.
Equally important — what survey coverage does not insure. Survey coverage does not insure against matters, conflicts, discrepancies, or encroachments that are shown on the survey.
In a standard title policy there is an exception for “any discrepancies, conflicts, shortages in area or boundary lines, or any encroachments or protrusions, or any overlapping of improvements.” When survey coverage is purchased, the exception is revised to read only “shortages in area” which provides the insured with significant additional coverage, as explained below.
What is Required to Obtain Survey Coverage?
To obtain survey deletion coverage in Texas, you typically need the following:
a. A current survey that accurately reflects the property lines, improvements, any easements, setback lines, or other items that are located on the property. If the Seller in a transaction has an existing survey it may be possible to use the survey as long as there have not been any changes to the property since the survey was prepared. If the Seller has an existing survey be sure to check the appropriate boxes in Paragraph 6 of the TREC 1-4 Family Contract (the “TREC contract”) and deliver the survey and the T-47 to the Buyer and Title Company within the number of days stated in the contract. The survey will be reviewed by the Title Company and must meet certain criteria and standards to be accepted. If an existing survey is not acceptable to the title company a new survey will be required, and the party responsible for that is negotiable and is set out in paragraph 6C(1) of the TREC Contract.
b. A new survey may be required in certain circumstances. If the Seller does not have a survey, if they have made changes to the property since the last survey was done, or if an existing survey is not acceptable to the Title Company, a new survey would have to be ordered. The party responsible for paying for the new survey is negotiable, and is set out in Paragraph 6C of the TREC Contract. It is important to note that a new survey cannot be prepared until the title work has been completed, so keep that in mind when calculating the number of days the parties have in Paragraph 6 to provide the new survey.
c. Request Survey Deletion Coverage: This is typically requested by checking the appropriate box in Paragraph 6A(8)of the TREC. The party who will be responsible for paying the premium for survey coverage is negotiable and can be set out in Paragraph 6A(8)(ii). The cost for survey coverage on a residential transaction is 5 percent of the basic premium. See the chart below for some examples of the cost:
Even with survey coverage, it is important to note that a Title Company will add any necessary exceptions for items disclosed on the survey thereby removing those items from coverage in the title policy even when survey coverage is provided. For example, if the survey shows that a fence encroaches on to the neighbor’s property, the Title Company will revise the title commitment to add an exception. The Buyer would have an opportunity under the TREC Contract to object to the new exception under Paragraph 6D of the TREC Contract. If no objection is made, and the Buyer purchases the property, and a dispute arises regarding the fence, it would not be covered under the Title Policy.
Why is the Phrase “Shortages in Area” Not Deleted from the General Exception?
One notable aspect of survey deletion coverage in Texas is that the phrase “Shortages in Area” is not deleted from the general exception. This phrase is included in standard title insurance policies, and it signifies that the Texas Department of Insurance prohibits title companies from insuring exact acreage. In other words, the title insurance policy does not provide coverage for discrepancies in the property’s area or size.
The reason for not deleting this phrase is to take into account the fact that Surveyors and Appraisers may use slightly different methods and technologies to measure property area, and discrepancies can arise. By retaining the “Shortages in Area” phrase, it clarifies that the title insurance policy does not guarantee the property’s exact size, only the boundaries and encroachments.
What is the Benefit of Purchasing Survey Coverage?
The primary benefit of purchasing survey coverage is protection against unexpected boundary issues and encroachments. Here are some key advantages:
a. Legal Protection: Survey coverage offers legal and financial protection in case a dispute arises regarding the property’s boundaries or improvements. For example, if someone claims ownership of a portion of your land or that they have a right to use a portion of your land, the title insurance company will step in to defend your rights and potentially cover any financial losses.
b. Potential Cost Savings: In the event of a boundary dispute involving a matter covered in your title policy, the title insurance company may be required to cover legal expenses and potential settlements, saving you from bearing these costs yourself.
Why Should You Not Use Old Surveys When Buying a New Home?
Using old surveys when buying a new home can be risky for several reasons:
a. Changes Over Time: Property boundaries and improvements can change over time due to various factors, including renovations, construction of new structures, installation of new fences along a boundary line, or land erosion. An old survey may not accurately reflect these changes.
b. Encroachments: An old survey may not identify encroachments from neighboring properties or other issues that have developed since the survey was conducted. This could lead to boundary disputes and costly legal proceedings.
c. Title Insurance Requirements: Most title insurance companies require a current survey to provide survey deletion coverage. Using an old survey may result in the denial of coverage or additional costs to update the survey.
d. Lender Requirements: If you are obtaining a mortgage loan to purchase the property, your lender may also require a current survey to ensure the property’s boundaries, easements, and setback lines are accurately defined.
In Texas, survey deletion coverage is a crucial aspect of title insurance that can protect homeowners in certain property disputes and from financial losses related to property boundaries and improvements. Republic Title’s commitment to serving as a trusted resource for homeowners and real estate professionals is evident in its expertise and dedication to secure property transactions in Texas.
Whether you’re a lifelong resident or new to the area, there’s always something new to discover about your neighborhood. With that in mind, we created a Fast Facts sheet for cities and neighborhoods all over the DFW area. Our DFW Area fast facts have detailed real estate insights, things to do, places to shop and some of our favorite restaurants in each area.
McKinney is a historic city with a charming downtown area that exudes small-town charm. Known for its preserved 19th-century buildings and unique shops, McKinney offers a glimpse into the past while embracing modern development. The city is also home to a thriving arts and culture scene, excellent schools, and a strong sense of community, making it an attractive place to live for those seeking a blend of history, cultural experiences, and a welcoming atmosphere.
Head to our website now to get all the details you need to stay up-to-date and in-the-know about your local neighborhood. Your community is waiting for you! republictitle.com/dfw-area-city-fast-facts
POPULATION
203K
AVERAGE HOUSEHOLD INCOME
$122K
MEDIAN AGE
37
HOUSING
66% OWN 34% RENT
AVERAGE SALES PRICE
$600K
AREA ACTIVITIES & FEATURES
• ADRIATICA VILLAGE | DINING, SHOPPING & ENTERTAINMENT COMPLEX • HUB 121 | DINING, LIVE MUSIC & ENTERTAINMENT • DOWNTOWN MCKINNEY | SHOPPING, ENTERTAINMENT & DINING • HERD NATURAL SCIENCE MUSEUM | EXHIBITS & WILDLIFE SANCTUARY • LANDON WINERY | TEXAS WINERY & TASTING ROOM • PLAY STREET MUSEUM
• ANTIQUE COMPANY MALL • THE GROOVY COOP • WHITE ROCK SOAP GALLERY • MCKINNEY HAT COMPANY • HOME-OL-O-GY • GOODIES TEXAS • MAIMEE LOU • THE LITTLE RED HEN • LAUNDRY KATE • ROSAS + LAVANDA • PETALS & VINE • DIGGIN’ IT • LED ZEPPLIN RECORDS
AVERAGE DRIVE TIMES
• DOWNTOWN DALLAS | 35 MINUTES • DALLAS LOVE FIELD AIRPORT | 40 MINUTES • DFW INTERNATIONAL AIRPORT | 30 MINUTES • AT&T STADIUM & GLOBE LIFE FIELD | 45 MINUTES • DOWNTOWN FORT WORTH | 52 MINUTES
January 2024 brought a surge in North Texas real estate listings, with Collin County leading at a 25% increase in new listings compared to the same period last year. Dallas County follows suit with a commendable 14% uptick, while Denton and Rockwall counties record rises of 12% and 32%, respectively. Tarrant County, while still showing growth, experiences a more modest increase of 6% in new listings. While days on market varied—Collin improved by 1.8%, Dallas increased by 9%, Denton dropped by 13%, and Rockwall rose by 6%—closed sales were up in all counties except Tarrant, which saw a 4% decrease.
In summary, the January 2024 real estate statistics paint a picture of a vibrant and dynamic market in North Texas. The surge in new listings signifies growing confidence among sellers, while variations in days on the market underscore the nuanced nature of local market conditions. Despite minor fluctuations, the overall trajectory remains positive, reaffirming North Texas as a robust hub for real estate activity.
Our stats infographics include a year over year comparison and area highlights for single family homes broken down by county. We encourage you to share these infographics and video with your sphere.
