Does this sound familiar? Where are we in Collin County on resale homes? Inventory for them has not increased to 2019 levels, yet. Demand was not as high for resale homes based on pending sales in June compared to the last 4 years. Interest rates have gone up and down but not as good as they were over the past few years. Will they ever return to where they were? To be frank, no. Get use to the new normal.  Medium home prices were lower than last June for a resale home. However, they were higher than what they were in May. What does this mean? The market is stabilizing and that is all it means.

Yes, we can all look at our “real estate crystal ball” and say one thing or the other. The fact is the fact. Inventory is still lower than it was in 2019 for…

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New Construction Homes in Princeton, Texas

Princeton, Texas is a charming town located just north of Dallas. It's a great place to raise a family or retire, and it's also a great place to find new construction homes.

The DeBerry Team of Keller Williams Realty is a leading real estate team in Princeton, and they have a wide selection of new construction homes for sale. They offer homes in a variety of styles and sizes, so you're sure to find the perfect home for your needs.

Here are some of the benefits of buying a new construction home:

  • Brand new everything: New construction homes come with all new appliances, fixtures, and finishes. This means that you won't have to worry about replacing anything for years to come.
  • Energy…

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Absolutely!

The housing market in Collin County is a hot one, with homes selling quickly and prices rising. In this market, it's important to understand the difference between total inventory and active single family listings.

Inventory refers to the total number of homes on the market, both single-family homes and multifamily homes. Active listings refer to the number of single-family homes that are currently for sale.

In a balanced market, inventory and active listings are about equal. However, in a seller's market like Collin County, inventory is low and active listings are high. This means that there are more buyers than sellers, and homes are selling quickly.

The low inventory in Collin County is due to a number of factors, including:

    …

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No, I am not kidding! Why do I feel that it is a good time to sell? Median sales prices in Collin County have risen 7% from January of this year. Next, inventory of homes is slowly growing and this will affect home prices in the future. Now is a good time to sell.

Is demand there? Let me put it this way, is there enough inventory to meet the existing demand? The answer is no. However, we are seeing inventory growing which will give more choices to buyers in the market and the more it does the more competition sellers will have to compete with. Now is a good time to sell while inventory is low.

There are times to take advantage of markets and this is one of them. You can wait and see or you can check with a realtor to find out what the best decision…

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Some would say both. There is some truth to that, however, what has gone up the most? Home Prices! Traditionally home prices escalated around 4 to 6% annually. What we saw during the pandemic is home prices skyrocketing up, in some cases, 24% or more. No matter what the interest rates this is a huge increase. At one time, when interest rates up 18% or more, this was a big issue but homes were still selling. Why? The average home prices were at a level that these homes continued to be affordable.

The old saying really applies to this situation, “what comes first, the chicken or the egg?” Today’s case is home prices. It doesn’t matter what the interest rates are or at least doesn’t matter as much when home prices are affordable. Where do we go from here…

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As a Realtor and the daughter of a WWII and Korean Veteran, married to a Vietnam Veteran with a son that served in the Navy and our daughter who is married to a wonderful man that served in the Marines, We take time this day to remember all those that have served and gave their all in service of our country. During our travels we have had the opportunity to visit the cemeteries in Normandy, Hawaii, and in Dallas for those who served our country and are now laid to rest. Standing there looking over the crosses of those who died in service of our country is quite sobering. Rows upon rows of crosses of those who gave their all for all of us. You may not agree about the politics that got us involved in some of these wars throughout the years, but please never…

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Is there a difference? Yes, there is. What the heck is she talking about? This is what happens when you come into a middle of a conversation that you didn’t know how it started. You are left wondering what are they talking about? I don’t want anyone to be confused about the real estate market in Collin County and so let’s just start there.

Let’s start at looking at last April compared to April of 2023 for resale homes in Collin County. I think this will surprise you, median sales prices are up only .5% over last April. For those complaining about escalating prices you might want to tone that down a bit. Yes, if you look at 2019 there has been an abnormal percent of price increase but not based on April 2022 vs April 2023. You want to hear a big change?…

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Depending on how you view the term the" Ides Of March" whether positive or negative, it can also apply to the Collin County single family home real estate market. It was not a "killer Market" if you reference it to the death of "Julius Caesar" or a kickoff to a "Spring Festival." It is the 1st quarter of the year in real estate and in most cases through history it has been a slower time in overall real estate transactions. If you apply good or bad to this time of the year, you are missing the point. Yes, this year has been off compared to the last 2 1/2 years. In some cases by quite a bit but in others not so much. Homes are selling and that means people are buying. The next quarter will really tell us if the market is going to get back on track to it's…

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Sometimes that is how I feel abut the information I hear from certain news outlets. It can be frustrating to the public when searching for accurate information. I am going to give you the statistics from our MLS on what happened in February on resale homes in Collin County. Our team puts together at the end of each month graphs that show data comparing the specific month we just finished with the past 4 years for this specific month. This way we can see the trends and it allows us to make assessments about the market. So let's take a look at the median sales price for the county. It was $482,500 which was up 1/2% of the same period in 2022. This means that prices stabilized over the last few months. However, we are also tracking other factors that might…

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The answer? Not on the market yet! Over the past 12 weeks, we track 20 school districts in north Dallas and Collin County. These areas give us a good indication weekly of what is happening with homes coming on the market. Something we did not expect is that inventory of single-family resale homes has declined since January of this year. Historically, it is not unusual for those wishing to put their homes on the market to wait till March, however, this year might be different. Why? Those who had better mortgage rates may decide to wait to see if they come back down. Although, that is not usually a major factor for moving, but it is one that home sellers do consider. What they should understand, based on the information we have, if they wish to move then…

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