2015 was a very interesting year in Real Estate in 46 areas in and around Dallas. I know it was for "The DeBerry Team". I listed and sold over 92 homes this past year. Yes, that's right 92. My buyers agents closed another 67 transactions for a total of 159 closed transactions. I am not counting the leases we did since we don't usually that is not a primary business. I am very proud of how our team performed this year.
The market was very interesting because the dollar volume of real estate transactions went up considerably this past year from approximately 13,870,149,199.00 to 15,347,720,080.00, approximately a 10.7% increase in the sales volume this past year based on the 46 areas. Median Home Prices were up 7.3% however home sales or units sold were up approximately 1.6%. You might be wondering, as I did, why the big increase in sales volume and home prices but not in units sold? The only reason I can come up with is because of a lack of inventory in our market. I believe if we had more options for home buyers then we would have had a larger sales in units. Now let me also note our MLS does not give us information about new home builder sales completely so there could have been more units sold based on this area. I actually believe this is a true statement since our team sold many new construction homes this year. However, when a realtor sells them they get put into the MLS but there are people who actually purchase new homes without a realtor. Really! I wouldn't suggest people do that since the person selling the home works for the builder and not the person buying the home. Realtors represent their clients so they have their best interest in mind. I think people should always use a realtor when buying a new construction home. I want everyone to be protected no matter what type of home they buy.
In the 22 areas that "The DeBerry Team" sells in of North Dallas and Collin County the figures are this. Sales Volume was up 11.8%, Unit Sales up by 0.9% and Median home prices were up approximately 11.0%. As you can see that this area resemble the overall market as well. Due to reduced inventory the prices escalated and that resulted in the larger sales volume. Overall it was a stable market. I don't see the market changing very much this year but I could get surprised. Based on inventory and interest rates along with employment will define how 2016 will shake out.