February 2012 McKinney Market Minute

It’s almost Spring here in North Texas and to me that means more homes on the market, more relos looking around, and all and all a pick up in real estate sales.  It’s always helpful to know how your community looks in the overall real estate market, so here’s a look at how McKinney faired in February 2012 compared to February 2010 and 2011:

This report is compiled from the North Texas Real Estate Information System (NTREIS) Multiple Listing Service (MLS) and is assumed accurate.  These numbers to do NOT reflect For Sale By Owners (FSBO) or transactions handled by unlicensed real estate agents (because unlicensed real estate agents aren’t actual Realtors).  Lastly, Single Family Residential Homes are the only type of dwelling included in this report for simplicity.

In February 2012 there were only 739 homes on the market actively listed for sale in the City of McKinney.  In February 2011 there were 996 and in February 2010 there were 1049. That is a 25.8% decrease over the last year.  With housing inventory so low, many families will choose to look in surrounding communities, such as Allen, Prosper, Frisco, etc.

The number of new listings increased year over year by 14.4% as there were 310 in McKinney last month as compared to 361 in 2010 and 271 in 2011.

The average Days on Market (DOM) in McKinney continues to decrease, woohoo from all my sellers!!!!  The average DOM for February 2012 is 75!!!!  2010 was 109 and 2011 was 122.  That’s  -38.7% decrease from last year.  Compare that to the entire DFW Market which has seen a gradual increase: 100 DOM in February 2010, 120 in 2011 and 110 this year.

The total number of homes sold in McKinney for the month of February 2012 was 148.  That’s an increase  of 18.4% over the last two years with 147 in 2010 and 125 in 2011.

The Median Sales Price (MSP) showed an increase of 4.5%  while the DFW Market MSP had a smaller increase of 1.9%.  McKinney shows February MSP at $178,425 in 2012, $186,500 in 2011 and $175,325 in 2010.  In comparison to the overall DFW market of $139,000 02/2010, $142,260 02/2011 and $145,000 02/2012!  That’s a $32,000 margin.

There were only 24 REO/Foreclosure listings sold in last month, which has remained consist for McKinney over the last six to nine months.

And there are currently only 24 active foreclosures on the market in McKinney: http://ntreislistings.marketlinx.com/SearchDetail/Scripts/PrtBuy4/PrtBuy4Remarks.asp?emailGUID=d7a9d505-5e23-4028-9cec-d3fd3879f4ba&AgentId=0558805

New Construction took a bit of a beating with only 16 new homes sold last month.  And 113 currently on the market in McKinney: http://ntreislistings.marketlinx.com/SearchDetail/Scripts/PrtBuy4/PrtBuy4Remarks.asp?emailGUID=10e086bc-ee9c-4cba-8d81-1b7075fd6b44&AgentId=0558805

Overall the positives in the current McKinney Real Estate Market remain shorter than average Days on Market, higher percentages of original list price sold, and a stable price per square foot sold.  It’s better to have a stable market than to be in an area where you have no idea what to expect.

If you’re considering selling your home, now is a great time to get listed on the market as inventory is down in McKinney, which means your home has a better chance of finding a buyer than normal.  I’d love to assist you if you are considering a sell.  If you have specific questions about what’s happening in the McKinney Real Estate Market, give me a call at 214.799.0774 or email me at McKinneyTXRealtor@gmail.com.  You can also visit my website atwww.McKinneyHomeFinder.com And if you want to stay in the know, follow me on facebook for all the good stuff:  www.Facebook.com/McKinneyRE.

November 2011 McKinney Market Minute

As we round the final corner of the last leg of the year, let’s stop and look at how the real estate market is moving in McKinney.  Here’s a look at how November 2011 compared to November 2009 and 2010:

This report is compiled from the North Texas Real Estate Information System (NTREIS) Multiple Listing Service (MLS) and is assumed accurate.  These numbers to do NOT reflect For Sale By Owners (FSBO) or transactions handled by unlicensed real estate agents (because unlicensed real estate agents aren’t actual Realtors).  Lastly, Single Family Residential Homes are the only type of dwelling included in this report for simplicity.

In November 2011 there were 779 homes on the market actively listed for sale in the City of McKinney.  In November 2010 there were 1,171 and in November 2009 there were 993. The decrease is expected as fewer homeowners list their homes during the holiday months, as well, fewer foreclosures short sales are on the market than the previous two years.

The number of new listings were 211 in McKinney last month as compared to 229 in 11/2009 and 242 in 11/2010.

The average Days on Market (DOM) in McKinney continues to decrease year by year, yippee!!!  I’m seeing good deals move faster and faster these days.  The average DOM for November 2011 is 86 DOM, 2009 was 71 and 2010 was 102.  That’s  -15% decrease from last year.  Compare that to the entire DFW Market which has seen a gradual increase:  96 DOM in 11/2009, 106 DOM in 11/2010 and 105 DOM in 11/2011.

The total number of homes sold in McKinney for the month of November 2011 was 158.  There was a slight decrease over the last two years with 199 in November 2009 and 163 in November 2010.

The Median Sales Price (MSP) showed a slight decrease while the DFW Market MSP had a minor increase.  With $180,000 in November 2009, $185,000 in November 2010 and $173,950 this month.  In comparsion to the overall DFW market of $140,000 11/2009, $141,338 11/2010 and $142,000 11/2011!  That’s a $31,000 margin.

There were only 22 REO/Foreclosure listings sold in November. http://ntreislistings.marketlinx.com/SearchDetail/Scripts/PrtBuy4/PrtBuy4Remarks.asp?emailGUID=2fe87e34-fa62-4327-a929-097c3b9fc091&AgentId=0558805

And there are currently only 24 active foreclosures on the market in McKinney: http://ntreislistings.marketlinx.com/SearchDetail/Scripts/PrtBuy4/PrtBuy4Remarks.asp?emailGUID=44d74c9b-7971-4b11-a55c-789abdcf06b9&AgentId=0558805

New Construction hasn’t slowed down much with 29 new homes sold last month.  And 132 currently on the market in McKinney: http://ntreislistings.marketlinx.com/SearchDetail/Scripts/PrtBuy4/PrtBuy4Remarks.asp?emailGUID=491a2105-4422-4559-ae01-3c994f6f9e42&AgentId=0558805

Although there were a few slight decreases, it’s somewhat expected during these holiday months.  Fewer buyers and sellers on the market, and colder weather tends to keep people indoors.
If you have specific questions about what’s happening in the McKinney Real Estate Market, give me a call at 214.799.0774 or email me at McKinneyTXRealtor@gmail.com.  You can also visit my website at http://www.FindMcKinneyHomesForSale.com And if you want to stay in the know, follow me on facebook for all the good stuff:  www.Facebook.com/McKinneyRE.

Be sure to tune in next month for the 2011 McKinney Market report where we’ll go over the entire years growth…

September 2011 McKinney Market Minute

Let’s take a moment and compare what is happening in the current Real Estate Market both in McKinney and in the entire DFW area as a whole.  I’m using data found in the North Texas Real Estate Information System (NTREIS) Multiple Listing Service (MLS) am comparing the month of September for 2009-2011 to show the changes made year to year.  For reporting purposes we are only looking at Single Family Residential Homes for sale.

McKinney is an anomaly in that we have continued to see growth throughout the downturn that the rest of the nation and even parts of DFW have seen.  With that said here are the statistics for McKinney:

For the entire month of September 2011 there were 826 homes on the market actively listed for sale in the City of McKinney.  In September 2010 there were 1,291 and in September 2009 there were 1109.  This is a sign of market stabilization in terms that fewer homes on the market means less need to sell over desire to sell, i.e. less foreclosures and short sales.  This also means buyers have fewer homes to choose from, and should be more willing to offer closer to listing prices.

There were 221 new listings added for sale in McKinney this September as compared to 316 in 2009 and 297 in 2010.

The average Days on Market (DOM) has been slowly decreasing and sellers are pleased to hear this.  The average for September 2011 is 86 DOM, 2009 was 93 and 2010 was 88.  The overall DFW Market has seen a gradual increase:  95 DOM in 09/2009, 97 DOM in 09/2010 and 107 DOM in 09/2011.

The Median Sales Price for McKinney has gradually increased over the last three years, with $167,000 in September 2009, $189,021 in September 2010 and $192,000 this September.  In comparsion to the overall DFW market of $143,000 09/2009, $144,000 09/2010 and $146,000 09/2011!

The total number of homes sold in McKinney for the month of September 2011 was 181 homes.  There was a slight decrease over the last two years with 221 in September 2009 and 193 in September 2010.  This was expected as the market was slowly turning from a full on buyer’s market to a more even, stablized market.

There were only 28 REO/Foreclosure listings sold in September of this year and that is a nice decrease from years past with 39 in 2009 and and 33 in 2010.

And there are currently only 34 active foreclosures on the market in McKinney: http://ntreislistings.marketlinx.com/SearchDetail/Scripts/PrtBuy4/PrtBuy4Remarks.asp?emailGUID=cd03cd28-fced-4ed1-9e8f-fa2531bbdd7c&AgentId=0558805

Having worked the McKinney Real Estate Market for the last decade, I’ve seen the the overall real estate climate change here and there.  These statistics reflect actual numbers in sales and do not lend room for opinion.  Therefore, to give you a professional opinion on just where the McKinney Real Estate Market stands, I will say that this summer I’ve worked with more incoming relocationg families than any other time in my career as well as each of my listings have sold in well below the average days on market that these reports reflect.  In fact, my latest listing sold in only 6 days, and that was after a bidding war.  Of course that all has to do with my standard Three P’s of Real Estate, Presentation, Promotion and Price.  I’ve sold everything from foreclosures to new construction and pre-existing homes to townhomes and right now the buyers are eager and the sellers have been willing.

If you have specific questions about what’s happening in the McKinney Real Estate Market, give me a call at 214.799.0774 or email me at McKinneyTXRealtor@gmail.com.  You can also visit my website at www.MckinneyRealEstateTeam.com

October 2011 McKinney Market Minute

I’m baaaaaack…  This time with the update on how the real estate market in McKinney is moving and shaking.  Let’s look at how October 2011 compared to October 2009 and 2010, shall we?

All my information is comprised from the North Texas Real Estate Information System (NTREIS) Multiple Listing Service (MLS) and is assumed accurate.  These numbers to do NOT reflect For Sale By Owners (FSBO) or transactions handled by unlicensed real estate agents (cause that’s illegal, ya’ll).  And of course I’m only looking at Single Family Residential Homes, because condos, townhomes, duplexes and multifamily properties skew the numbers a bit.

Each time I sit down to run the numbers, I’m always proud to call McKinney not only my home but also where I focus my business because we stand out from the rest of the metroplex as far as growth and in the real estate market.  No wonder we were voted the number 5 best place to live by Money Magazine.  McKinney, Texas just rocks, ya’ll!

So on to the stats, here’s where we shine:

For the entire month of October 2011 there were 820 homes on the market actively listed for sale in the City of McKinney.  In October 2010 there were 1,216 and in October 2009 there were 1024.  As the number of homes on the market continue to decrease, this helps to accelerate an overall seller’s market.  It’s not going to happen tomorrow, or even in the next 6 months.  But it’s a good sign of market stabilization.  And that’s music to my ears!

The number of new listings were 278 in McKinney last month as compared to 260 in 10/2009 and 276 in 10/2010.

The average Days on Market (DOM) in McKinney continues to decrease year by year, yippee!!!  In fact, I had a home sell in just 6 days and it was all I could do to contain my seller’s from freaking out a little.  The average DOM for October 2011 is 88 DOM, 2009 was 95 and 2010 was 92.  That’s -7.4% decrease from last year.  Compare that to the entire DFW Market which has seen a gradual increase:  94 DOM in 10/2009, 110 DOM in 10/2010 and 106 DOM in 10/2011.

The total number of homes sold in McKinney for the month of October 2011 was 166.  There was a slight decrease over the last two years with 245 in October 2009 and 179 in October 2010.

And our Median Sales Price (MSP) for continues to increase while the DFW Market MSP is decreasing.  With $172,500 in October 2009, $167,000 in October 2010 and $175,750 this month.  In comparsion to the overall DFW market of $140,500 10/2009, $145,000 10/2010 and $142,500 10/2011!  That’s a $30,000 margin.

There were only 35 REO/Foreclosure listings sold in October of this year and that is a nice decrease from years past with 41 in 2009 and and 40 in 2010.  As fewer foreclosures come on the market and are sold, it begins to even out the numbers as far as what is really happening.

And there are currently only 34 active foreclosures on the market in McKinney: http://ntreislistings.marketlinx.com/SearchDetail/Scripts/PrtBuy4/PrtBuy4Remarks.asp?emailGUID=f02b64cd-9b4c-4d39-9477-664974c01f0f&AgentId=0558805

New Construction continues to plow forward, hehehe, with 31 new homes sold last month.  And 147 currently on the market in McKinney: http://ntreislistings.marketlinx.com/SearchDetail/Scripts/PrtBuy4/PrtBuy4Remarks.asp?emailGUID=688a4925-f84a-4264-9d4c-cdf8800a946a&AgentId=0558805

These numbers and statistics are just that, numbers and stats.  Every professional will give you a waivering opinion.  And when the day comes that McKinney just isn’t producing results, I’ll let you know.  But as of October 2011, MacTown is where it’s at, er, real estate wise.

If you have specific questions about what’s happening in the McKinney Real Estate Market, give me a call at 214.799.0774 or email me at McKinneyTXRealtor@gmail.com.  You can also visit my website at www.McKinneyRealEstateTeam.com And if you want to stay in the know, follow me on facebook for all the good stuff:  www.Facebook.com/McKinneyRE.