By Elaine Harper, McKinney Real Estate Team
This report is compiled from the North Texas Real Estate Information System (NTREIS) Multiple Listing Service (MLS) and is assumed accurate. These numbers to do NOT reflect For Sale By Owners (FSBO) or transactions handled by unlicensed real estate agents (because unlicensed real estate agents aren’t actual Realtors). Lastly, Single Family Residential Homes are the only type of dwelling included in this report for simplicity.
In March 2012 there were only 741 homes on the market actively listed for sale in the City of McKinney. In February 2011 there were 1,030 and in February 2010 there were 1,135. With housing inventory so low, many families will choose to look in surrounding communities, such as Allen, Prosper, Frisco, etc.
The average Days on Market (DOM) in McKinney continues to decrease, woohoo from all my sellers!!!! The average DOM for March 2012 is 78!!!! 2010 was 79 and 2011 was 108. Compare that to the entire DFW Market which has seen a gradual increase: 86 DOM in March 2010, 87 in 2011 and 90 this year.
The total number of homes sold in McKinney for the month of March 2012 was 213. 211 in 2010 and 190 in 2011.
The Median Sales Price (MSP) showed no change while the DFW Market MSP had a slight increase. McKinney shows March MSP at $178,000 in 2012, $178,000 in 2011 and $174,900 in 2010. In comparison to the overall DFW market of $143,600 03/2010, $139,900 03/2011 and $155,000 03/2012! That’s a $32,000 margin.
There were only 23 REO/Foreclosure listings sold in last month, which has remained consist for McKinney over the last six to nine months.
Overall the positives in the current McKinney Real Estate Market remain shorter than average Days on Market, higher percentages of original list price sold, and a stable price per square foot sold. It’s better to have a stable market than to be in an area where you have no idea what to expect.
If you’re considering selling your home, now is a great time to get listed on the market as inventory is down in McKinney, which means your home has a better chance of finding a buyer than normal. I’d love to assist you if you are considering a sell. If you have specific questions about what’s happening in the McKinney Real Estate Market, give me a call at 214.799.0774 or email me. You can also visit my website at www.McKinneyHomeFinder.com or my TSB Profile Page. And if you want to stay in the know, follow me on facebook for all the good stuff: www.Facebook.com/McKinneyRE.