Grayson County growth impacts housing market
Last month was the largest single month for home building in Sherman in more than three decades, and a local realtor said this growth is affecting the housing market.
City officials say Sherman added 59 new houses in October.
"We're seeing a lot of growth in the area and that's really been driven by the prices of the homes you can buy here compared to the Metroplex," owner and broker at Tracy Realty, Tommi Homuth said.
Homuth said most clients she works with come to Grayson County for its affordability.
She said in recent years, home prices have gone up.
"Our home prices are going up, in 2016 the average price of a home sold was $160,000, now the average price of a home sold is around $190,000," Homuth said.
Homuth said right now, there's about a four month housing supply in Grayson County.
"So when you have less inventory on the market, it becomes a seller's market, so as a seller's market they see an opportunity to sell their house at a higher price, we get more inventory on the market and it becomes a buyer's market because prices go down," Homuth said.
Homuth said developers like Highland Homes, Cupid Homes, and Holley Jolly Developments are expanding housing options in the area.
"We have more inventory on the market, prices are starting to come down, it's a buyer's market," Homuth said.