North Dallas & Plano Real Estate Blog

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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The Market Has Definitely Changed! My Buyer Specialists have been working with many buyers working to find them the home they desire. They are having to compete with many multiple offers and so they have to use their knowledge and skill to win in those type of situations. Our seller specialists have been listing homes for those willing to get the most for their home and helping them negotiate the multiple offers that they are receiving. Right now is an excellent time to sell a home since the inventory is low and the ability to get more for your home is great! 

Look at these numbers for Collin County and some of the areas we follow each week and month. Collin County-Days on Market=45 days!, Allen-Days on Market=33 days!, Frisco-Days on Market 36 days!,

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Many people have asked me and my team what is going on with home sales during the pandemic? There are some people who have taken their homes off the market and yes buyer traffic has been reduced but not eliminated. Our team is still listing homes and also showing buyers who need to find a home. We track approximately 18 areas to make sure we understand the dynamics of the market. Most areas are in Collin County but we also have a couple of areas outside of that like north Dallas, Rockwall and parts of Denton County. This gives us a good picture of the activity. This past week ending April 19th there were 380 single family homes that "Sold". Based on the approximate same weekly period last month there were 363 homes that "Sold". So you can see that we had

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I wanted to discuss a phenomenon that is happening in the real estate industry. There are now companies wanting to provide what they call "end to end solutions" for selling a home. In other words, they will buy a home for a specific price based on their algorithms and then re-sell the home while providing title as well as mortgage services to the public. They have nifty apps to put on your cell phone to do the home search and of course, to capture you there. Why am I discussing this? Let me explain, there are companies that have been in the Real Estate Brokerage business for a long time such as Keller Williams, Remax and others. But now we have real estate portals like Zillow who have stepped into the fray to purchase and resell homes. So what is the

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What will 2020 bring residential real estate in Collin County and in North Texas in general? As we have seen over this past year home prices continued to move up approximately 4% in 2019. However, the movement upward has slowed. Why? First, more inventory came onto the market and second the demand in the lower price ranges was high but inventory for that product was low causing those who could get into a home to wait. Even though interest rates remained at an all time low it did not spur a surge in activity due to shortage of these type of products. Until this changes I think we will see still see more of the same in 2020. 

A sellers market vs a buyers market. There have only been a few months over the last decade that we might be able to look back and

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