The World Cup kicks off this month in North America. The housing market also kicked into full gear for June. The Total Active listings increased across all reported counties and cities. Also, Inventory Months increased in all reported areas.
The most obvious indicator is the Year-Over-Year (YOY) Percentage of Inventory Months. Five cities and two counties are in negative numbers. This means they listed fewer houses than this month last year. Meanwhile, five cities are in Buyer Market territory with more than 6 months of inventory. All three reported counties have about 4.8 months of inventory.
Dallas and Denton counties increased their Median Percentage of Original Price. All reporting cities finally reached percentages above 90%, with Allen coming closest to the original price at 98.1%. It’s ideal to list houses at or below expectation and let the market set the sales price. Overpriced homes sit on the market and unnecessarily increase inventory.
All three reported counties remain Neutral Markets overall, with about 4.8 months of inventory. Of the reported cities, only Plano remains a Seller’s Market with less than 4 months of inventory.
Prosper has the highest year-over-year (YOY) inventory increase at 38.6%. McKinney has the lowest at -19.6%.
McKinney has the most Active homes at 1,220, while Van Alstyne still has the fewest at 200. Prosper continues to have the top Median List and Sold prices, as well as the highest Median Price Per Square Foot (PSF) at $239 PSF. Anna is the most affordable reported area this month, with listings at $163 Median PSF.
Dallas County median price PSF this month is the highest at $206, while Collin County increased to $199 and Denton County increased to $201. Dallas County has the most Active properties at 7,846. Dallas County got the highest median closed percentage of the original listed price at 97.3%.
Plano and Allen have the lowest reported median days on market at 19 days, while Van Alstyne has the highest at 86 days.
The war with Iran and fuel prices continue to create uncertainty. AI has significantly disrupted the job market by automating routine tasks, displacing some roles while simultaneously creating new ones in tech, data, and AI-related fields. Buyers have a slight advantage, but Sellers continue to want more for their properties than the market supports.
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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