December Local Housing Market Update

The entire reported area remains in a Sellers’ Market with less than six months of inventory. Because many Buyers are interested in eastern Denton County homes, I added market statistics for the cities of Denton, Aubrey and Little Elm.

Prosper still has the highest overall price per square foot while Gunter is second. Denton has the lowest price of the selected cities. Year-over-year inventory for Melissa is down 56% while Plano had the only increase - a modest 5% year-over-year percentage change. Plano also has the fewest months of inventory homes available at 2.1 months.

Dallas County has a significantly lower median list price than Collin or Denton counties. Dallas County also has the fewest months of inventory and the highest number of homes available. Houses are also selling fastest in Dallas County. Denton and Collin counties have the same Seller’s advantage with lower supplies for demand. Collin County still demands the highest prices per square foot.

Cash Buyers and Buyers without a house should move now. Buyers should act now while there is inventory and relative price stability. When rates drop, more Buyers are expected to surge into the market.

Homeowners should sell now if they don’t need a mortgage to purchase their next house. Sellers who are rightsizing to smaller, better and newer properties are at a distinct advantage. They can leverage their home equity to purchase as all-cash buyers in this market. Additionally, Sellers with an “extra” house due to inheritance or marriage can liquidate those assets quickly if it is properly priced and marketed by a professional REALTOR.

I've Got Your Six! 

Mark M. Hancock, GRI, MRP, AHWD 

REALTOR, New Build certified 

214-862-7212 

DFWmark.com 

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