Market Statistics - March 2024

Most of the reported area remains in a Sellers’ Market except Van Alstyne, which hit a Buyers’ Market with six months of inventory. Van Alstyne also has the highest year-over-year inventory increase of 93.5%. Plano and Melissa have the least inventory at 1.7 months and more than a 50% year-over-year inventory drop in each city.

Frisco has the most Active homes at 405 while Gunter has the fewest at 33. There was only ONE sale in Gunter this month. At only 1.7 months of inventory, Melissa has the lowest YOY months of inventory percentage at -56.4%. Aubrey and Anna are flat at 0% YOY. All other cities and all counties showed positive growth. Dallas and Collin counties are still near 30 days on market while Denton County is at 37 days. Denton County is generally the most affordable this month at $203 per square foot (psf) while Collin County gets $214 psf. Dallas County has the most Active properties with 4,596. All three reported counties are close to getting a median 97% of the original listed price.

The Fed will end the bank term funding program (BTFP) on 11 March 2024. This emergency lending program was a response to customer withdrawal runs and the failures of Signature, Silvergate and Silicon Valley regional banks as well as Credit Suisse in Europe in March 2023. BTFP allowed banks to use bonds as collateral to borrow from the central bank.

New safety rails were installed to minimize liquidity problems that led to the downfall of Bitcoin-friendly banks in Silicon Valley. However, the end of BTFP could create higher lending rates and constrain credit availability. It could also possibly lead to higher mortgage rates and more strict credit rules while many folks were waiting for rates to drop.

Nonetheless, the Federal Deposit Insurance Corp. (FDIC) is still limited to $250,000 per customer per institution. If customers didn’t resolve this situation in the last year. It could be a problem for some when BTFP is removed.

Without getting too deep in the weeds, the Overnight Reverse Repurchase Agreement – a low-risk injection of liquidity into the system by banks and the Fed - is also expected to end this year. It could end as early as March but is most likely to end later in the year. In short, if you’re waiting for rates to drop, you may wait a long time. Get a house now.

I've Got Your Six!

Mark M. Hancock, GRI, MRP, AHWD
REALTOR, New Build certified
214-862-7212
DFWmark.com

#DFWmark #REALTOR #MarketWatch #ResidentialMarket #MarketStatistics #Stats #YOY #CollinCounty #DentonCounty #DallasCounty

Market Statistics - June 2023

Prices range from a per-square-foot median price of $186 in Anna to $250 in Frisco. Prosper has the highest median listing and sold prices in these communities. Melissa had the highest year-over-year monthly supply increase while Gunter was nearly stagnant.

Here’s a breakdown by city for the three main groupings near Frisco in Collin / Grayson counties:

1) Frisco, Plano, McKinney
2) Prosper, Celina, Gunter
3) Anna, Melissa, Van Alstyne

I've Got Your Six!

Mark M. Hancock, GRI, MRP, AHWD
REALTOR, New Build certified
214-862-7212
DFWmark.com

#DFWmark #REALTOR #MarketWatch #ResidentialMarket #MarketStatistics #Stats #YOY #CollinCounty #GraysonCounty

Market Statistics - 1 May 2023

The dam has burst for pent up housing demand. Multiple offers and overflowing open houses are common at properly marketed houses. Buyers and investors race to get any affordable properties as we saw the local housing market invert last week with more sales than new listings and reduced overall inventory. Here’s a breakdown by city for the three main groupings near Frisco in Collin / Grayson counties:

1) Frisco, Plano, McKinney
2) Prosper, Celina, Gunter
3) Anna, Melissa, Van Alstyne

I've Got Your Six!

Mark M. Hancock, GRI, MRP, AHWD
REALTOR, New Build certified
214-862-7212
DFWmark.com

#DFWmark #REALTOR #MarketWatch #ResidentialMarket #MarketStatistics #Stats #InvertedMarket #YOY #CollinCounty #DentonCounty

Market Statistics - 30 March 2023

Traditionally, the week of April 15 is the best time to list a house. Meanwhile, most houses are sold in June. There's a built-in anticipation of waiting several weeks to sell. 

If the house is priced at or slightly below comparable sold houses, it's likely to sell quickly AND for more than the listed price. Offers over asking price often result from aggressive marketing to create a Fear Of Missing Out (FOMO).

Because educated buyers know what they want, they are likely to send acceptable offers on Day Zero (the first day on market). They may have already lost a few times and are prepared to offer an appropriate price.

1) Frisco, Plano, McKinney (above)
2) Prosper, Celina, Gunter (left)

3) Anna, Melissa, Van Alstyne (below)

Unless there's another "black swan event," mortgage interest rates are expected to rise until inflation is somewhat under control.

Sellers with larger houses and plenty of equity should "right size" now. The timing allows them to take advantage of increased house inventory (selections) on the market while interest rates remain reasonable enough for well-qualified first-time buyers to purchase preowned houses.

Anecdotally, agents representing well-priced houses in good locations have reported multiple offers recently (dozens of legitimate offers within days).

If a house is “show ready,” I have the skills and licenses to market the house within 24 hours – including drone photos and video. Otherwise, I have vendor connections to help get the house ready and for sale quickly.

I've Got Your Six!

Mark M. Hancock, GRI, MRP, AHWD
REALTOR, New Build certified
214-862-7212
DFWmark.com

#DFWmark #REALTOR #MarketWatch #RightSize #MarketStatistics #Stats #HousingInventory #YOY #CollinCounty #GraysonCounty

Market Stats MAV

Come visit my open house today in Melissa. Below is what has happened in the local market. Inventory is depleting as we go into the "buying season." If you're on the fence, buy now.

I've Got Your Six!

Mark M. Hancock, GRI, MRP, AHWD
REALTOR, New Build certified
214-862-7212
DFWmark.com

#DFWmark #REALTOR #MarketWatch #ResidentialMarket #MarketStatistics #Stats #HousingInventory #YOY #CollinCounty #Melissa

Market Statistics - 7 March 2023

As we saw last week, the spring housing market has heated up significantly. However, it has cooled since this same time last year. Here’s a breakdown by city for the three main groupings near Frisco in Collin / Grayson counties:

1) Frisco, Plano, McKinney
2) Prosper, Celina, Gunter
3) Anna, Melissa, Van Alstyne

I've Got Your Six!

Mark M. Hancock, GRI, MRP, AHWD
REALTOR, New Build certified
214-862-7212
DFWmark.com

#DFWmark #REALTOR #MarketWatch #ResidentialMarket #MarketStatistics #Stats #HousingInventory #YOY #CollinCounty #GraysonCounty

Scouting Van Alstyne Land

My client was interested in these 5.6- and 6.8-acre lots but decided to keep looking. The drone video is still fun. These beauties have 1Gb fiber optic internet available! Let me know if you’re in the market for flat land in Van Alstyne in Grayson County!

I’ve Got Your Six!

Mark M. Hancock, GRI, MRP, AHWD
REALTOR, New Build certified
214-862-7212
DFWmark.com

#DFWmark #REALTOR #land #RealEstate #CustomHome #CountryLife #WorkRemote #drone #aerial #agriculture

Droning down a country road

I'm flying my drone down country roads while helping clients find land in Van Alstyne this weekend. I love my angry little camera!

I’ve Got Your Six!

Mark M. Hancock, GRI, MRP, AHWD
REALTOR, New Build certified
214-862-7212
DFWmark.com

#DFWmark #REALTOR #drone #CountryRoad #land #winter #acreage #VanAlstyne #GraysonCounty #dirt