Rowlett, TX Housing Market Update Apr 2022

The home prices just keep going up but the number of homes for sales does not! That’s the story across the DFW Metroplex and the country. That combined with historically low interest rates has pushed home values to record highs in some areas and Rowlett is no different. And as a member of the community and homeowner in Rowlett, I like it!

Much like the rest of the DFW Metroplex and the country, Rowlett continues to see strong year-over-year (YoY) growth both in the median home price and price per sq ft. As homes appreciate, we are starting to see the concentration of price distribution highest in the $400-$499k price points, followed closing by $500k-$749k. Much of this can be attributed to the high demand and lack of overall inventory across all price points.

If there are any bright spots to focus on, if you’re a home buyer or potential home buyer in this market, is the days on market and days to close are going up, which normally means either homes are listed too high or we are starting to see market dynamics change and a slowing of appreciation. It is my opinion, for what that matters, that the days on market are due to the increased interest rates that are pulling potential buyers out of the market or making home buyers more selective when choosing where to offer. Unfortunately, don’t expect or bank on the multiple offer scenarios to go away completely, more like 4-5 offers per house compared to the 15+ we were seeing.

Rowlett does present a unique scenario in the fact that we are not seeing a large number of new construction units hit the market in the near future, which will continue to push buyers to existing homes. Great news for those homeowners who are contemplating a move and the opportunity to cash in on years of high appreciation. That being said, Rowlett does have plenty of positives, both from with proximity to major thorough ways and several communities with lakefront or lake view properties.