Let’s take a moment and compare what is happening in the current Real Estate Market both in McKinney and in the entire DFW area as a whole. I’m using data found in the North Texas Real Estate Information System (NTREIS) Multiple Listing Service (MLS) am comparing the month of September for 2009-2011 to show the changes made year to year. For reporting purposes we are only looking at Single Family Residential Homes for sale.
McKinney is an anomaly in that we have continued to see growth throughout the downturn that the rest of the nation and even parts of DFW have seen. With that said here are the statistics for McKinney:
For the entire month of September 2011 there were 826 homes on the market actively listed for sale in the City of McKinney. In September 2010 there were 1,291 and in September 2009 there were 1109. This is a sign of market stabilization in terms that fewer homes on the market means less need to sell over desire to sell, i.e. less foreclosures and short sales. This also means buyers have fewer homes to choose from, and should be more willing to offer closer to listing prices.
There were 221 new listings added for sale in McKinney this September as compared to 316 in 2009 and 297 in 2010.
The average Days on Market (DOM) has been slowly decreasing and sellers are pleased to hear this. The average for September 2011 is 86 DOM, 2009 was 93 and 2010 was 88. The overall DFW Market has seen a gradual increase: 95 DOM in 09/2009, 97 DOM in 09/2010 and 107 DOM in 09/2011.
The Median Sales Price for McKinney has gradually increased over the last three years, with $167,000 in September 2009, $189,021 in September 2010 and $192,000 this September. In comparsion to the overall DFW market of $143,000 09/2009, $144,000 09/2010 and $146,000 09/2011!
The total number of homes sold in McKinney for the month of September 2011 was 181 homes. There was a slight decrease over the last two years with 221 in September 2009 and 193 in September 2010. This was expected as the market was slowly turning from a full on buyer’s market to a more even, stablized market.
There were only 28 REO/Foreclosure listings sold in September of this year and that is a nice decrease from years past with 39 in 2009 and and 33 in 2010.
And there are currently only 34 active foreclosures on the market in McKinney: http://ntreislistings.marketlinx.com/SearchDetail/Scripts/PrtBuy4/PrtBuy4Remarks.asp?emailGUID=cd03cd28-fced-4ed1-9e8f-fa2531bbdd7c&AgentId=0558805
Having worked the McKinney Real Estate Market for the last decade, I’ve seen the the overall real estate climate change here and there. These statistics reflect actual numbers in sales and do not lend room for opinion. Therefore, to give you a professional opinion on just where the McKinney Real Estate Market stands, I will say that this summer I’ve worked with more incoming relocationg families than any other time in my career as well as each of my listings have sold in well below the average days on market that these reports reflect. In fact, my latest listing sold in only 6 days, and that was after a bidding war. Of course that all has to do with my standard Three P’s of Real Estate, Presentation, Promotion and Price. I’ve sold everything from foreclosures to new construction and pre-existing homes to townhomes and right now the buyers are eager and the sellers have been willing.
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