New homes, apartment complexes breaking Sherman records for expansion
SHERMAN, Texas (KXII) - Homes are being built in Sherman left and right to keep up with people wanting to move north.
At Monday night’s meeting alone, Sherman City Council approved more than 600 homes, including apartment units.
“We’re there. We’re seeing it right now,” said Paragon Realtors Sales Agent Mark Tooley.
Tooley said the projected growth in Sherman that’s been talked about for years is here.
An example is the homes being built up and down 1417, like the ones at Country Ridge Estates.
“And that’s what we need because there’s just not enough supply out there for the demand right now,” Tooley said.
He said people are moving from as far as California and New York to as close as within the county.
Spring is the peak season for buying and selling.
Plus, he said interest rates are still around three percent.
He said offers are coming in at list price or above, with the biggest sellers pricing at around $150,000 to $300,000.
“I mean we’re seeing multiple offers on Day 1 of listing a house. It’s like buyers have to be ready to buy,” Tooley said.
He said sale prices have increased 20 to 30 percent in the past couple years.
Sherman City Council Member Josh Stevenson said five years ago, around 20 homes were being built a year.
“And now every meeting, we’re approving literally hundreds of new houses and apartment complexes,” Stevenson said.
A plot on West Moore Street could have 72 patio homes, and a new three-story apartment complex is set for Gallagher Drive.
“You want a good mix so people from every walk of life can come and move to Sherman,” Stevenson said.
Tooley credits the city for building the foundation for growth by updating infrastructure, expanding roads and adding the new Sherman High School.
Both say these new homes could be a window to Sherman’s future.
“There’s a lot going on here between retail, commercial, activities for the families. I mean that’s one of the big draws I think to this area is the quality of life,” Tooley said.
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