Ever feel absolutely confused about the news you hear about the real estate
market? It’s up one month, then it’s down 3 months prior……. No, the revised
numbers came up more positive than expected. Pending home sales are UP, then
DOWN? Confused enough yet??? I can certainly understand how you
feel. The truth is that real estate markets are very local. So local that we are
not only talking about “local” in one city.
Sometimes, local could mean specific neighborhoods, because some
neighborhoods are hit harder with foreclosures and short sales, while the next
neighborhood over is not hit at all. Then, within the specific neighborhoods,
there are some types of properties that are hit while others, not as bad. For
example, single-story homes within the community may sell at “regular” fair
market value but two-story homes sell at “foreclosure” prices for certain built.
Hence, take caution with the information that you read from the Internet.
Many times, it is to provide general information only. An in-depth pricing
analysis must be conducted in order to find a home its “fair market value”.
Below are Year-To-Date YTD real estate information for Frisco, Plano, McKinney, Allen, Little Elm, Prosper & Celina – the northern suburbs of Dallas metroplex. The information is deemed true and should be taken as general information only. The
information is used to study as real estate market trends and to give you a basic understanding of where the real estate market in those cities stand.
Contact Loreena Yeo (214) 783-2210 for specific information about your neighborhood.
|No. of Transactions||1673||1684||– 0.7 %|
|Total Real Estate Value||$ 478,771,738||$ 479,922,256||– 0.2 %|
|Avg. Sales Price||$ 286,176||$ 284,989||+ 0.4 %|
|Median Sales Price||$ 245,000||$ 240,000||+ 2.1 %|
|Avg. Days on Market||71||82||+ 13.4 %|
Overall, Frisco TX homes are having a positive year. Although there is
not significant differences in the number of transactions and total real estate
value, note that the average sales price and median sales price have increased.
The days on market of correctly priced homes are selling in a week less than
last year. This shows that the demand in Frisco TX is still high.
|No. of Transactions||1838||1975||– 6.9 %|
|Total Real Estate Value||$ 457,474,670||$ 492,009,971||– 7.0 %|
|Avg. Sales Price||$ 248,898||$ 249,119||– 0.1 %|
|Median Sales Price||$ 206,250||$ 205,000||+ 0.6 %|
|Avg. Days on Market||63||65||+ 13.4 %|
Overall, Plano TX homes are having a non-too-reactive year. The market
data shows that the trend is not getting better, but it is not getting any worse
|No. of Transactions||1509||1617||– 6.7 %|
|Total Real Estate Value||$ 331,290,978||$ 343,111,709||– 3.4 %|
|Avg. Sales Price||$ 219,543||$ 212.190||+ 3.5 %|
|Median Sales Price||$ 180,000||$ 175,000||+ 2.9 %|
|Avg. Days on Market||70||77||+ 13.4 %|
Overall, McKinney TX homes sold less homes (number of transactions) in
2010 than in 2009. However, if you view the total real estate sales value, it is
only down half of what the number of transactions. The market data also show
slight improvements in the average sales price and median sales price. Homes
in McKinney are taking 1 week less to sell than in the previous year.
|No. of Transactions||921||888||+ 3.7 %|
|Total Real Estate Value||$ 223,981,022||$ 211,145,506||+ 6.1 %|
|Avg. Sales Price||$ 243,193||$ 237,776||+ 2.3 %|
|Median Sales Price||$ 201,000||$ 197,969||+ 1.5 %|
|Avg. Days on Market||63||65||+ 11.7 %|
Overall, Allen TX homes showed the most positive results in all the
cities studied. Allen TX showed significant gain in number of
transactions (almost 4%) and real estate value (6.1%). Its average and median
sales prices are also up for 2010. Go Allen TX homes!
|No. of Transactions||489||472||+ 3.6 %|
|Total Real Estate Value||$ 78,725,659||$ 76,823,859||+ 2.5 %|
|Avg. Sales Price||$ 160,993||$ 162,762||– 1.1 %|
|Median Sales Price||$ 152,365||$ 151,346||+ 0.0 %|
|Avg. Days on Market||62||76||+ 18.4 %|
Overall, Little Elm TX homes also seen positive numbers year-to-date. The average sales price fell in 2010 but not significant. The best result for Little Elm homes is that it took 2 weeks less to sell (for correctly-priced homes).
|No. of Transactions||156||176||– 11.4 %|
|Total Real Estate Value||$ 55,077,348||$ 63,067,298||– 12.7 %|
|Avg. Sales Price||$ 353,060||$ 358,337||– 1.5 %|
|Median Sales Price||$ 317,950||$ 315,500||+ 0.8 %|
|Avg. Days on Market||95||120||+ 20.8 %|
Overall, Prosper TX typically do not sell many homes in one year.
Prosper TX neighborhoods and homes are a little different from Frisco, Plano
and McKinney neighborhoods. Many Prosper TX homes have large lot sizes
(many over 1-acre) and many homes start over $300K with high-quality features.
Although the 2010 Year-To-Date numbers may look as good, but it is also because
Prosper TX typically sell small quantity of homes each year.
|No. of Transactions||87||90||– 3.3 %|
|Total Real Estate Value||$ 21,891,092||$ 20,464,201||+ 7.0 %|
|Avg. Sales Price||$ 251,622||$ 227,380||+ 10.7 %|
|Median Sales Price||$ 198,384||$ 187,500||+ 5.8 %|
|Avg. Days on Market||83||109||+ 23.9%|
Overall, Celina TX homes closed less number of transactions in 2010,
but the total real estate value increased. All numbers are positive with a much
higher average sales price and median sales price. The number of days on the
market scored a whopping increase too. By far, the best improvement for all the
cities studied in this research.