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 offering above list price. In some areas we are seeing even more offers at or below list price. Again, it depend on the subdivision. When we look of how long pre-owned homes stayed on the market in Collin County, we find that in October of 2019 they were on the market for 35 days and in October of 2021 they were on for only 7 days. This is a reduction of 80.0% since 2019. However when we look at 2020 compared to 2021 it is only down 36.4%. Homes are selling for higher prices and in a short amount of time, at least through October of this year. 

The median percent of what was being offered to the original prices was 101.8%, and is down from earlier in the year where we saw that number at over 105%. As we indicated above we are starting to see a correction here based on the trends. Overall the percentage is up over 2019 and 2020 but moving back closer to a normal range. The months supply of pre-owned homes for sale has dwindled since 2019. It stood at about 3,107 homes for sale that year and in 2021 stands at approximately 864 homes for sale. Collin County has about 1 months supply of homes for purchase. New listings are coming on the market but overall we are down about 14.3% since 2019. The ones that do come on the market are taking a little longer to sell but are still getting some great offers. What is very interesting is the demand for pre-owned homes. Since 2019  pre-owned homes that closed are up 21.4% from that year. If we had more availability of pre-owned homes I do believe we would see an even greater sales number. 

Our team is getting ready for Thanksgiving. Our office and our homes are decorated and we are all looking for the holiday. We wish everyone a wonderful Thanksgiving and a great holiday season. 

The DeBerry Team

Posted by Roxanne DeBerry on


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