As we round the final corner of the last leg of the year, let’s stop and look at how the real estate market is moving in McKinney. Here’s a look at how November 2011 compared to November 2009 and 2010:
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 November 2011 there were 779 homes on the market actively listed for sale in the City of McKinney. In November 2010 there were 1,171 and in November 2009 there were 993. The decrease is expected as fewer homeowners list their homes during the holiday months, as well, fewer foreclosures short sales are on the market than the previous two years.
The number of new listings were 211 in McKinney last month as compared to 229 in 11/2009 and 242 in 11/2010.
The average Days on Market (DOM) in McKinney continues to decrease year by year, yippee!!! I’m seeing good deals move faster and faster these days. The average DOM for November 2011 is 86 DOM, 2009 was 71 and 2010 was 102. That’s -15% decrease from last year. Compare that to the entire DFW Market which has seen a gradual increase: 96 DOM in 11/2009, 106 DOM in 11/2010 and 105 DOM in 11/2011.
The total number of homes sold in McKinney for the month of November 2011 was 158. There was a slight decrease over the last two years with 199 in November 2009 and 163 in November 2010.
The Median Sales Price (MSP) showed a slight decrease while the DFW Market MSP had a minor increase. With $180,000 in November 2009, $185,000 in November 2010 and $173,950 this month. In comparsion to the overall DFW market of $140,000 11/2009, $141,338 11/2010 and $142,000 11/2011! That’s a $31,000 margin.
There were only 22 REO/Foreclosure listings sold in November. http://ntreislistings.marketlinx.com/SearchDetail/Scripts/PrtBuy4/PrtBuy4Remarks.asp?emailGUID=2fe87e34-fa62-4327-a929-097c3b9fc091&AgentId=0558805
And there are currently only 24 active foreclosures on the market in McKinney: http://ntreislistings.marketlinx.com/SearchDetail/Scripts/PrtBuy4/PrtBuy4Remarks.asp?emailGUID=44d74c9b-7971-4b11-a55c-789abdcf06b9&AgentId=0558805
New Construction hasn’t slowed down much with 29 new homes sold last month. And 132 currently on the market in McKinney: http://ntreislistings.marketlinx.com/SearchDetail/Scripts/PrtBuy4/PrtBuy4Remarks.asp?emailGUID=491a2105-4422-4559-ae01-3c994f6f9e42&AgentId=0558805
Although there were a few slight decreases, it’s somewhat expected during these holiday months. Fewer buyers and sellers on the market, and colder weather tends to keep people indoors.
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 at McKinneyTXRealtor@gmail.com. You can also visit my website at www.FindMcKinneyHomesForSale.com And if you want to stay in the know, follow me on facebook for all the good stuff: www.Facebook.com/McKinneyRE.
Be sure to tune in next month for the 2011 McKinney Market report where we’ll go over the entire years growth…