North Dallas & Plano Real Estate Blog

Great Question! Let's just look back two months ago in the Collin County and North Dallas area. Supply was short, competition for homes was fierce, frustrations were high and disappointments happened all to frequently. Ask yourself, "what are the negatives today"? You might say that interest rates are higher but should that be a big disappointment when looking to purchase a home. Sure, it is a consideration. Today, a buyer for a home has much more choices and is not facing escalating home prices due to the shortage of homes. Are homes still priced higher than in the past yes they are. However, that is true year over year. 

Today our economy in Texas is still very strong and based on all the articles we read, I don't see that changing any time soon. If

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When it comes to deciding whether to sell your home takes in a lot of factors. For me and my husband we sold our last home about 6 years ago. It was a big decision for us and we knew we had a lot of work to get our home ready to receive the best offer on it. Of course, you may say the market was different back then, however, it really wasn't much different. My personal experience of selling our own home and helping people buy and sell homes over a long period of time has given me a unique perspective on the best ways to get homes sold and to get the best price when selling them. 

The preparation is key before putting homes on the market. Setting the right price is key to attracting the most amount of buyers in a certain price range. Once that is in

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My answer to the above headline, Bull!!. The sky is not falling! The market is changing but in real estate the market always goes through changes. Let's talk a little about what is causing the commotion about what people are now seeing or starting to see in the Collin County market for resale homes. First, lets look back a little bit over the past two years. Before ever going into the pandemic, housing supply in Texas was already not keeping up with demand. Then the pandemic hit. Wallah! As if by magic, people saw home prices escalating at a phenomenal rate. The shortage of inventory caused a feeding frenzy for the available homes and when that happens prices escalate. This competition between buyers led to multiple offers and offers way above list

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As I told people in May the market was changing. So what do I see right now in July? Much more inventory has come on the market in our area over the past two months and that is giving buyers a lot of choices. When buyer's have a lot of choices that means offers for homes will also change. Why? When sellers have more homes to compete with then to get their homes sold they will need to be more willing to look at offers that are not like those that came in two months ago. In fact, those offers have basically come to a halt. We might see a few offers come in slightly above list but most are now coming in at or below list price. Buyers are being told by their Realtors that they are not facing the kind of competition on each home as they were before, which

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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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