The beginning of April brings showers and more closed sales in all reported North Texas cities and counties. Total Active listings are up across all reported counties and cities except Anna. Median listing prices are up across all counties, while individual cities are mixed.
All reported counties increased their Median Percentage of Original Price. Celina had the most significant percentage drop to 87.9% of the original price. Meanwhile, Prosper crept into a Buyer’s Market with 6.2 months of inventory.
All three reported counties are Neutral Markets overall, with slightly more than 4 months of inventory. Of the reported cities, only Plano, Allen and McKinney remain as Seller’s Markets with less than 4 months of inventory.
Prosper has the highest year-over-year (YOY) inventory increase at 24%. McKinney has the lowest at -10.8%. Aubrey’s inventory is static. Plano and Anna are down. All other reported areas showed inventory increases.
McKinney has the most Active homes at 998, while Van Alstyne still has the fewest at 170. Prosper has the top Median List and Sold prices, as well as the highest Median Price Per Square Foot (PSF) at $238 PSF. Anna is the most affordable reported area with Median PSF listings at $165 PSF.
Dallas County median price PSF this month is the highest at $200, while Collin County increased to $194 and Denton County decreased to $193. Dallas County has the most Active properties at 7,152. Dallas County got the highest median closed percentage of the original listed price at 69.7%.
Plano has the lowest reported median days on market at 28 days, while Celina and Van Alstyne have the highest at 93 days.
Historically, listings posted the week of April 14 have seen the strongest buyer demand, the highest listing prices, and the fewest days on the market, according to Realtor.com. This year is historic, but not traditional. The war with Iran and fuel prices have affected interest rates and the real estate market. The 30-year fixed mortgage rates have risen for five consecutive weeks.
Ready, willing and able Buyers need to lock in rates and buy now. Cash Buyers are likely to find bargains soon if market conditions don’t change dramatically. Sellers need to list now if they want to sell this year.
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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