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November 2023 DFW Real Estate Stats

November stats are in! New listings increased over November 2022 in all counties except for Denton County. Rockwall County saw the biggest increase in new listings with 219 (up 16.5% over November 2022). Days on market increased in Denton County (7.7% YoY), Dallas County (6.1% YoY), and Tarrant County (7.9% YoY) while Collin County slightly decreased by 2.3% from 2022. The National Association of Realtors is forecasting that Dallas-Fort Worth area will be one of the country’s top housing marketing in 2024, second to Austin. These stats provide valuable insights for both buyers and sellers as we round out 2023 and prepare for the new year.

In this ever-evolving real estate landscape, understanding local market trends is essential. Whether you’re buying, selling, or investing, our team is here to provide expert guidance tailored to your needs.

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.

For more stats information, pdfs and graphics of our stats including detailed information by county, visit the Resources section on our website at DFW Area Real Estate Statistics | Republic Title of Texas.

For the full report from the Texas A&M Real Estate Research Center, click here. For NTREIS County reports click here.

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Winter Weather Emergency Preparedness

It’s no secret the weather in North Texas can be unpredictable and brutal at its extremes.  That’s why it’s important to be prepared for whatever mother nature throws our way.  Our Winter Weather Emergency Preparedness list will help you know how to prep beforehand, and give you tips to keep you and your family safe in even the harshest of winter storms.

TO DO BEFORE THE STORM
Create a winter storm emergency kit from the above list. Locate the main water line to your house.
Fill up your car with gas.
Winterize your home. (See the back for list)
Know your medical needs.
Replace wiper fluid with a wintertime mixture.
Make sure your tires have air in them.
Charge all your devices and power strips.
Lower the heat in your house a few degrees if you can to help avoid grid failure.

IF YOU LOSE POWER
Immediately turn off the water to your house. Then turn on all the faucets to your house and let the water flow until it stops. This ensures there is no water in your pipes that can burst.
Unplug Valuable devices in your house like TVs, computers, and gaming systems.
Choose one room in your house to “Live” in.
Close your garage door.
Keep your freezer and refrigerator closed.
Know the signs of hypothermia and monitor all loved ones. Cover your windows with blankets if you can.
Open your cabinets to let warmer air around the pipes.

IF YOU LOSE WATER
Turn off the power to your water heater if your power isn’t off. Use bottled water if you need to drink or cook.
If you have lost power, when you drain your faucets, save the water in the tub & sink to use.
If you have saved water you can use it to flush toilets.

AFTER THE STORM
Check to make sure no pipes burst before turning your water back on. If you must leave your house, try to keep roads clear for emergency vehicles and be careful when driving as roads could still be iced and dangerous.
Apply for FEMA if it applies to you.
Call any plumbers or other contractors to fix immediate damage. File any insurance claims as soon as possible.

KNOW THE SIGNS OF HYPOTHERMIA
Signs of Hypothermia in Adults: Shivering
Exhaustion or feeling very tired Confusion
Fumbling hands
Memory loss
Slurred speech
Drowsiness
Signs of Hypothermia in Babies:
bright red, cold skin
very low energy
Hypothermia is a medical emergency. If you notice any of the above signs, take the person’s temperature. If it is below 95° F, get medical attention immediately! Warm drinks can help increase body temperature, but never give alcoholic drinks.

STOCK UP ON THE BASICS BEFORE ANYTHING HAPPENS
Extra Gallons of Water or Bottled Water Extra Baby Food/Formula
Extra Pet Food
Extra Medication
Shelf Stable Meals
Shelf Stable Snacks
Battery Powered or Crank Flashlight Battery Powered or Crank Radio Consider a Portable Generator
Extra hats, coats, mittens, and blankets A Warm Winter Coat
Windshield scraper
Shovel
First Aid Kit
Tow Chains or Rope
Tire Chain if you need to drive
Cat Litter or Sand to help tires get traction

Notice:
1.  This is an emergency supply. Don’t use it! Save it for a true crisis.

2. Never attempt to use a gas or charcoal burning appliance, camp stove or generator in enclosed spaces. This can cause Carbon Monoxide poisoning. 

3.  In any true emergency call 911.

Click here for a pdf version.

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Spotlight on Lake Highlands

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.

Lake Highlands, located in the northeastern part of Dallas, is a well-established and diverse neighborhood known for its scenic beauty and strong sense of community. With its tree-lined streets, numerous parks, and proximity to White Rock Lake, Lake Highlands offers residents ample opportunities for outdoor recreation. The neighborhood also boasts a range of housing options, top-rated schools, and a variety of local businesses, making it a desirable place to live with a suburban feel within the city.

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

48.9K

AVERAGE HOUSEHOLD INCOME

$80K

MEDIAN AGE

35

HOUSING

35% OWN
65% RENT

AVERAGE SALES PRICE

$437K

AREA ACTIVITIES & FEATURES

• FLAG POLE HILL
• DALLAS ARBORETUM & BOTANICAL GARDENS
• ROYAL OAKS COUNTRY CLUB
• TOPGOLF
• GEORGE W. BUSH PRESIDENTIAL CENTER
• HARRY S MOSS PARK
• SANDBOX VR | VIRTUAL GAMING CENTER
• WHITE ROCK LAKE
• LAKE HIGHLANDS NORTH PARK
• WATERCREST PARK
• PLAY STREET MUSEUM
• ALAMO DRAFTHOUSE CINEMA

FAVORITE LOCAL DINING & DRINK SPOTS

• CEDAR & VINE • RESIDENT TAQUERIA • THE TACO JOINT •
• SOCO BISTRO & CAFE • MOMO ITALIAN • FIRESIDE PIES •
• SHADY’S BURGERS & BREWHAHA • LOCHLAND’S IRISH
PUB • VECTOR BREWING • RONNIE’S CATFISH & MORE •
THE KOI WAY • ONE90 SMOKED MEATS • ZIZI RAMEN & SUSHI •
• MIJAS TAQUERIA • JJ’S CAFE • PLANO CAFE • TONY’S PIZZA
& PASTA • FISH CITY GRILL • ONE NOSTALGIA TAVERN •

FAVORITE LOCAL SHOPPING

• LAKE HIGHLANDS TOWN CENTER • THE STORE IN LAKE
HIGHLANDS • LAKERIDGE VILLAGE SHOPPING CENTER •
• WHITE ROCK SOAP GALLERY • THE UNDERGROUND
MARKET • CITY VIEW ANTIQUE MALL • CURIOSITIES •
• THE HILL SHOPPING CENTER •

AVERAGE DRIVE TIMES

• DOWNTOWN DALLAS | 30 MINUTES
• DALLAS LOVE FIELD AIRPORT | 30 MINUTES
• DFW INTERNATIONAL AIRPORT | 35 MINUTES
• AT&T STADIUM & GLOBE LIFE FIELD | 40 MINUTES
• DOWNTOWN FORT WORTH | 60 MINUTES

**Print Version

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Winterizing Your Home

CHECK THE EXTERIOR, DOORS AND WINDOWS

  • Inspect exterior for crevice cracks and exposed entry points around pipes; seal them.
  • Use weather stripping around doors to prevent cold air from entering the home and caulk windows.
  • Replace cracked glass in windows and, if you end up replacing the window, prime and paint exposed wood.

HVAC SYSTEMS

  • Get your HVAC system serviced, and have your duct work checked to be sure the air flow is uninterrupted and free of holes from pests.
  • Reverse all ceiling fans in the house. This will help push warm air downward and force it to recirculate.
  • Change the air filters in your home.
  • Check the cold air return vents and make sure they are not blocked by furniture. Your furnace needs these to operate at high efficiency.

SMOKE AND CARBON MONOXIDE DETECTORS

  • Install a carbon monoxide detector near your furnace and/or water heater.
  • Replace batteries in smoke and carbon monoxide detectors.
  • After replacing batteries, test all detectors to make sure they work.
  • Buy a fire extinguisher or replace your existing one if it is older than 10 years.

CHECK FOUNDATIONS

  • Rake away all debris and vegetation from the foundation.
  • Seal up entry points to keep small animals from crawling under the house.
  • Tuck-point or seal foundation cracks. Mice can slip through space as thin as a dime.
  • Inspect sill plates for dry rot or pest infestation.
  • Secure crawlspace entrances.

PREVENT PLUMBING FREEZES

  • Locate your water main in the event you need to shut it off in an emergency.
  • Shut off the water to your hose bibs inside your house (via a turnoff valve), and drain the lines. Then insulate the spigot itself.
  • Insulate exposed plumbing pipes that pass through unheated areas of your home, like the garage for instance.
  • Flush your water heater to remove built-up sediment.
  • If you go on vacation, leave the heat on, set to at least 55 degrees.

GET THE FIREPLACE READY

  • Cap or screen the top of the chimney to keep out rodents and birds.
  • If the chimney hasn’t been cleaned for a while, call a chimney sweep to remove soot and creosote.
  • Buy firewood or chop wood. Store it in a dry place away from the exterior of your home.
  • Inspect the fireplace damper for proper opening and closing.
  • Check the mortar between bricks and tuck-point, if necessary.

PREPARE LANDSCAPING & OUTDOOR SURFACES

  • Trim trees if branches hang too close to the house or electrical wires.
  • Turn off your sprinkler system.
  • Clear the gutters of fallen leaves and debris.
  • Ask a gardener when your trees should be pruned to prevent winter injury.
  • Plant spring flower bulbs and left bulbs that cannot winter over such as dahlias in areas where the ground freezes.
  • Seal driveways, brick patios and wood decks.
  • Move sensitive potted plants indoors or to a sheltered area.
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Republic Title Lakewood Raises $15,600 for The Bridge Breast Network

On October 5th, Republic Title Lakewood hosted their 14th annual Pink Party for a Cause with all proceeds benefiting The Bridge Breast Network, a non-profit organization dedicated to ensuring that every woman in East Dallas has access to high-quality breast health care, regardless of her financial circumstances. Through dedicated efforts and the unwavering generosity of our team and community, Republic Title is proud to announce that we have raised $15,600 to assist The Bridge Breast Network in its mission to provide vital breast health services to those in need.

“We are inspired by the incredible work of The Bridge Breast Network and the positive impact they have on the lives of individuals in East Dallas. Republic Title is committed to supporting their mission and will continue to stand by their side as they provide essential breast health services to those in need, said Cindy Maya, Senior Vice President/Escrow Officer at Republic Title.

All proceeds raised at Republic Title’s Pink Party for a Cause benefit The Bridge Breast Network, whose mission is to save lives by providing access to diagnostic and treatment services for breast cancer to low income, uninsured and underinsured individuals. We are deeply grateful to our employees, clients, and partners who have generously contributed to this great cause year after year.

For more information on The Bridge Breast Network, visit www.bridgebreast.org.

 

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Texas Housing Insight – October 2023 Summary

High mortgage rates continue to put downward pressure on the housing market, with Texas home sales decreasing 5.9 percent year-over-year (YOY). The average price fell alongside sales, with homes costing around $6,000 less than in September. Demand for new construction increased despite the high entry barrier into the housing market. Homes continue to sit on the market longer, increasing by a week since the start of the year.

Housing Demand Remains Weak

High mortgage rates continue to decrease demand for homebuyers, leading to Texas’ total home sales falling 3.7 percent to 26,164 sales in October (Table 1). The “Big Four” metros were split with Austin and Dallas experiencing gains while Houston and San Antonio fell significantly. Austin had the highest monthly elevation with a 2.4 percent growth rate while San Antonio plummeted by 6.1 percent. The gap between Dallas and Houston grew as they moved in opposite directions. High mortgage rates continue to increase the entry barrier for buyers, leaving only the most committed buyers in the market.

The state’s average days on market (DOM) enters its sixth month of decreases, falling from 59 days in February to 52 days in October, indicating a shorter listing period. Among the major metros, Houston (44 days) posted the only monthly decrease while San Antonio (70 days) posted the largest gain. Dallas (44 days) and Austin (68 days) remain unchanged from the previous month.

Housing supplies are stocking up as active listings marked their seventh straight month of increases, climbing 4.1 percent to 98,875 listings. All four major metros posted monthly gains with Houston (8.5 percent) adding 1,867 listings while Austin (0.9 percent) had a moderate gain of 84 listings. The constant increases since the start of 2023 have put the state’s active listings number at October 2019 levels.

The state’s new listings fell 1.45 percent to 42,100 in October. San Antonio contributed heavily to this decline, falling over 17 percent (790 homes). Amid the rise in active listings, the months of inventory (MOI) grew to 3.8 months with all four major metros posting marginal gains.

High Mortgage Rates Continue to Impair Affordability

The Fed’s effort to curb inflation has led to a substantial rise in both treasury and mortgage rates. The ten-year U.S. Treasury Bond yield grew for the sixth consecutive month reaching 4.8 percent. Likewise, the Federal Home Loan Mortgage Corporation’s 30-year fixed-rate increased to 7.62 percent, up 42 basis points. The inflated mortgage rate is expected to further raise the cost of homeownership, decreasing mortgage applications.

Single-Family Permit Levels Rebound

Texas’ single-family construction permits rose 1.1 percent month over month (MOM) to 12,619 issuances. All four major metros reported growing demand for permits except for Houston (4,007 units), falling 4.6 percent. Among the other three metros, both San Antonio (967 units) and Dallas (3,731 units) saw double-digit monthly percent gains at 31 and 24 percent, respectively. Austin rebounded from last month’s fall, climbing 8.7 percent to 1,643 units.

Construction starts grew alongside construction permits according to data from Dodge Construction Network. Single-family construction starts increased 1.2 percent MOM to 11,556 units. Both Dallas and Houston led with over 3,250 houses breaking ground, surpassing the combined total of other metros outside the Big Four. Home project starts in Austin (1,605 starts) and San Antonio (694 starts) surpassed the typical 2:1 ratio.

The state’s year-to-date total single-family starts value climbed to $25.4 billion, up from $22.8 billion in September. Starts values continued the previous month’s trend of mirroring the values observed in 2019. Houston and Dallas remain the largest contributors, accounting for more than half of the state’s construction activity values. Dallas’ market share rose to 30.2 percent, with Houston trailing at 29.7 percent.

Median Home Price Falls for First Time Since February

After last month’s spike in median home prices, October erased that increase with the housing market easing as the median home price fell 1.9 percent MOM, falling by over $6,000 from last month. Housing prices remained elevated, but this month they declined as all of the Big Four metros reported monthly decreases with Austin experiencing the greatest decrease at 3 percent. Dallas and Houston declined by over 1 percent while San Antonio declined the least at 0.7 percent (Table 2).

Due to the price rise, half of homes are now priced at $200,000-$300,000 or $300,000-$400,000, accounting for 26 percent and 24 percent of total home sales, respectively.

The Texas Repeat Sales Home Price Index (Dec 2004=100) moderated at a 0.1 percent MOM loss but was up 1.5 percent from the previous year. Austin had the lowest annual appreciation with a 5.7 percent YOY decrease while Houston showed the highest annual appreciation at 2.5 percent.

Source – Joshua Roberson and Koby McMeans (December 13, 2023)

https://www.recenter.tamu.edu/articles/technical-report/Texas-Housing-Insight

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Spotlight on Keller

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.

Keller is a charming suburban city located in the Dallas-Fort Worth metroplex. Known for its family-friendly atmosphere and strong sense of community, Keller offers a blend of small-town charm and modern amenities. With its excellent schools, beautiful parks, and a thriving local business scene, Keller provides residents with a high quality of life and a close-knit community feel.

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

45K

AVERAGE HOUSEHOLD INCOME

$186K

MEDIAN AGE

42

HOUSING

82% OWN
18% RENT

AVERAGE SALES PRICE

$925K

AREA ACTIVITIES & FEATURES

• KELLER FARMER’S MARKET
• WILD ROSE HERITAGE CENTER
• CATHERINE ANNE’S BOOKS & RESEARCH CENTER
• THE STATION HOUSE
• TORNATO TERRY’S FAMILY AMUSEMENT CENTER

FAVORITE LOCAL DINING & DRINK SPOTS

• BOCA 31
• DEVIVO BROS. EATERY
• COOL WAVE CREATIONS
• HORIZON 76
• SMALLCAKES
• SMOKIN’ TEXAS GOURMET
• TEXAS HARVEST PIE COMPANY

FAVORITE LOCAL SHOPPING

• BELLA GLAM BOUTIQUE & LOUNGE
• CATHERINE ANNE’S BOOKS
• HOOLA HOOPS BOUTIQUE
• MEMORIES & TREASURES
• THE PARKS AT TOWN CENTER

AVERAGE DRIVE TIMES

DOWNTOWN DALLAS | 45 MINUTES
• DALLAS LOVE FIELD AIRPORT | 40 MINUTES
• DFW INTERNATIONAL AIRPORT | 24 MINUTES
• AT&T STADIUM & GLOBE LIFE FIELD | 35 MINUTES
• DOWNTOWN FORT WORTH | 35 MINUTES

**Print Version