Tagged : Home Sales

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July in Texas is usually hot. In fact, both July and August is normally our hottest months. So let's see how the market was in Collin County in July-was it hot?!! Let's take a look at a few of the major areas in Collin County to get a sense of what is taking place. In Allen, resale "median resale home prices" were up 8.3% over July of 2017. "Median Days On Market" for resale homes also increased by 63.6%.  "Inventory" of resale homes also increased by 41.7%. Although, prices for resale homes in Allen increased, we saw both a reduction in Pending and Closed sales in July over July of 2017 . Frisco is a very dynamic market as well but we are seeing some changes there in July for resale homes. Frisco  resale "median resale home prices" were up 8.3% over July

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The numbers are in for the first 8 months for pre-owned homes in Collin County. Remember this is taking the whole county into consideration and may not be reflective of your personal city or neighborhood. Check with your realtor if you are interested in finding out more about statistics for your own neighborhood since those numbers can vary from area to area. I want to give you an explanation between two numbers realtors frequently use and how they are calculated. First is the Medium range and the second in the Averagerange.  

The median of a set of numbers is that number where half the numbers are lower and half the numbers are higher. In the case of real estate, that means that the median is the price where half the homes sold that month were cheaper,

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Every year is different and every month is different as well in real estate. What is consistent is that no matter what the market, homes continue to be bought and sold.

Over the past 10 years we have only seen two years that were either called a "buyers market" or a "balanced market". A buyers market is one that buyers have the advantage and is usually spurred by an overage of inventory. A balanced market is one that neither the seller or the buyer has an advantage but the inventory makes for a competitive market for both the buyer and seller. A "Sellers Market" is one where sellers have the advantage and it is usually caused by a shortage of inventory of homes. This is where we are at today in the Collin County marketplace.

8 of the last 10 years

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