North Dallas & Plano Real Estate Blog

In Collin County, no matter how you view it, it looks like we are seeing some changes. However, not as dramatic as they could be in the very near future. What do I mean? When you compare both resale homes and new home sales for like periods, in other words, April 2022 to April 2021 it may look as if the market is still on the upswing. However, when you go from January through April of this year you can see some trends going in the other direction. One of the things that we notice is that inventory seems to be lower in April of this year compared to April of last year. However, when we look at January through April of this year inventory is steadily climbing upwards and if this continues on the track it is on it will exceed last years inventory. The same

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How did we do in Collin County for single family homes sales? The DeBerry Team continues to monitor the market and to update the public as we receive information that may be of interest. The DeBerry Team of KW has been very busy this past quarter while dealing with the issue of low inventory of homes. Recently, we have had many of our past clients call us to assist them with the sale of their properties and all sold within a short amount of time. Our Buyer Specialists are working with many buyers, assisting them by finding the homes they desire and helping win their submitted offers. It has been challenging, to say the least, but we are getting the job done for those who need assistance. Let's move on to the stats in Collin County. 

Collin County

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The DeBerry Team of Keller Williams Realty has been very active over this past month due to an increase in both seller and buyer demand. The issue continues to be a lack of more housing inventory for single family homes. This situation has led to increased offers above list price and many of those are cash offers. We spoke to one of our title companies recently and they told us that many of the people that they are closing are using their 401k to make cash offers and then getting a mortgage once they secure the home they desire. However, our team is still seeing many of our customers using a mortgage company to secure their financing for a home. Our team has seen an uptick in both buyer and seller activity over these past two weeks. 

As of March 7,

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This past year we saw a lot of increases in many different areas when it came to residential real estate. Collin County was not immune to these increases in 2021 and going into 2022. What are the big takeaways from this past year and what can we expect in 2022? First, lets dig into the numbers of this past year in Collin County for residential real estate. 

The medium sales price is something we use to see how prices are moving. Some like to quote averages but when you do that, the higher priced homes that sell are pulling up the numbers and inflates the overall results. Using "median" allows us to look at the middle of all prices of homes that were sold and gives us a better understanding of how much prices are moving in one direction or the other.

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2021 is fast coming to a close. It is risky business predicting the future and even more so when predicting “residential real estate”. Why do I say that? Could we ever imagine a virus that would shut down businesses, keep people at home, no in-person schools and with all that, a really hot real estate market! To say the least, these last two years have been extremely unusual. I don’t think anyone could have predicted how all this would shake out, especially me, and I have sold real estate in some unusual times. However, I think this one was the most unusual and unexpected.

The big issues in the market have been low inventory of homes both new construction and resale homes, multiple offers, not only multiple offers but multiple offers way above list

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The DeBerry Team continues to track what is happening in the Collin County market. Here is some information you may find interesting if not useful if you are thinking of buying or selling a pre-owned home. This information is provided by the Multiple Listing Service or MLS as most know it. We will be using "median" information for this blog. The medium sales price in Oct. 2019 was $325,000, in Oct 2020 it was $370,000 and in October 2021 it was $460,000. If you are thinking wow! You would be correct. The increases from to 2019 to 2020 was up 13.8% and from 2020 to 2021 it was up a whopping 24.3%. The over all median price for October from 2019 to 2021 showed an increase of 41.5%. With that said, our team has seen a marked reduction of how much people are

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The market is continually shifting throughout the year. However, since the pandemic started we saw that new inventory was not coming on the market as it was in 2019. The last part of every year is one that is always in flux. In other words, each year can be slightly different than the previous year. This year we started to see inventory starting to rise, slightly, through the 2nd quarter and into the 3rd quarter. During the latter part of the third quarter we saw that the inventory began to decline once again, although just slightly. This was seen on resale homes, in other words, homes put up for sale by owners. New construction homes were inundated with demand and product shortages. The inventory that was being built was sold before it hit the ground.

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As a realtor, part of their job is to stay up on the latest home trends so they help clients that are selling their homes with accurate pricing. They need to be aware of what buyers in their local market are searching for and if their client wants to improve the likelihood of a quick sale, they can make recommendations about what renovations they should consider. 

Since more employers are implementing a hybrid work week thanks to COVID, surveyed real estate agents say these are five of the most in-demand features buyers are searching for. 

1. Dedicated office space

Employers all across the country are giving their employees the chance to work from home full-time or at the least part-time. The new hybrid work week plays a huge role in what buyers

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The DeBerry Team closed approximately 100 homes this past year in spite of the virus, virtual closings, virtual showings and  prepping for personal showings. We adapted and we overcame!! This past year was very strange due to the virus. We started off the year gang busters and then in March things started to quiet down and that lasted for about 3 weeks. Then, for some unknown reason the activity started back up with a bang! We were all scrambling to help clients find homes in a low inventory market and to sell homes that were receiving multiple offers. Busy doesn't describe how busy we actually were. People wanted to move and to buy homes and we were there to assist them and protect them during the real estate process due to the virus. The DeBerry Team

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The Market in Collin County for both new construction and pre-owned homes continued on a rampage in September. What do I mean! Competition for homes coming on the market are fierce in many areas. What does that mean? Multiple Offers! We are deep into a "Sellers' Market". However, mortgage rates are at all time lows and that is generating a large demand for homes. We started the year with very low inventory and with this high demand it is gobbling up our inventory at a rapid pace. Many areas are now only 1.5 months of inventory or less and that is all types of single family homes. The median price for most new construction homes have increased and that may be due to a large increase in the cost of lumber. I have been told that the increases are upwards to

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