Spring brings higher listed prices in almost all reported North Texas cities and counties. This can mean Sellers want more for the same houses, they offer better houses or both. Total Active listings are up across all reported counties and cities except Melissa. Closed sales increased in all reported counties, while they are mixed by city.
All reported counties increased their Median Percentage of Original Price. Anna had the most significant percentage drop below 87.6% of the original price, with Celina close behind at 88.2%.
Collin and Denton counties are Seller’s Markets overall, with less than 4 months of inventory. Dallas County is primarily a Neutral Market 4.3 months of housing inventory. Individual reported cities range from Sellers Markets like Allen at 2.7 months to high Neutral Markets like Anna at 5.6 months. No reported city is in a Buyer’s Market with more than 6 months of inventory.
Aubrey has the highest year-over-year (YOY) inventory increase at 37.5%. McKinney has the lowest at -6.3%. Dallas County has 4.3 months of inventory, while Collin and Denton have 3.7 and 3.9 months, respectively. Anna’s inventory is static. Allen, Melissa and Celina are down. All other reported areas showed inventory increases.
McKinney has the most Active homes at 887, while Van Alstyne still has the fewest at 152. Prosper has the top Median List and Sold prices, as well as the highest Median Price Per Square Foot (PSF) at $236 PSF. Anna is the most affordable reported area with Median PSF listings at $155 PSF.
Dallas and Denton counties have the same median price PSF this month at $197, while Collin County surprises with $193. Dallas County has the most Active properties at 6,875. Dallas got the highest median closed percentage of the original listed price at 95.7%.
Allen has the lowest reported median days on market, at 36 days, while Celina has the highest at 96 days.
Mortgage rates are hovering around 6%, which is the lowest since September of 2022, according to Realtor.com. The Iranian conflict has introduced additional uncertainty to the market.
I've Got Your Six!
Mark M. Hancock, GRI, MRP, AHWD
REALTOR, New Build certified
214-862-7212 (call or text)
DFWmark@kw.com
DFWmark.com
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