Plano, Anna, McKinney & Van Alstyne Market Comparison

Plano, Anna, McKinney, & Van Alstyne Real Estate Market Comparison

Money HouseHow many times have you heard real estate is local? This will give you an idea of how a few miles can make a difference in real estate prices and market conditions. We will compare median sales price, sold to list price, days on market and month’s supply of inventory for September & year to date.

Keep in mind, these are median or average values so there will always be unique situations.

 

Median Home Price  (Sept./YTD)

  1. Plano                                                                                                             280/291K
  2. McKinney                                                                                                     259/269,950K
  3. Anna                                                                                                              200,226/187K
  4. Van Alstyne                                                                                                  172/189K

Obviously, the further north you go, the home prices decrease. There can be many reasons for this but a big one is the perception of driving distance. There can also be a vast difference in the type of home as many are on acreage as you go north. There is a bigger pool of buyers for the cookie cutter homes in the suburbs vs. home buyers looking for elbow room in the country.

Sold to List Percentage

  1. Plano                                                                                                               98.3/99.5%
  2. McKinney                                                                                                       98.2/99.2%
  3. Anna                                                                                                                98.6/98.3%
  4. Van Alstyne                                                                                                    97.5/95.9%

This is a very important statistic. The next time someone tells you they are going to low ball a seller, take a look at the MLS home sold price vs. the list price percentage. This is where the rubber meets the road. Sure, there will always be homes that sell for more or less but this tells you the overall market condition which is very good for sellers at the moment.

Days On Market (DOM)

  1. Plano                                                                                                               25/26
  2. McKinney                                                                                                       26/29
  3. Anna                                                                                                                27/32
  4. Van Alstyne                                                                                                    40/60

You can see that Days On Market (DOM) is basically the same and hasn’t changed much until you get to Van Alstyne. We are just starting to catch up with the market and people are discovering they can get more for their money here. The recent highway construction completion will bring even more people to our area as commute times decrease.

 

Months Supply Of Inventory

  1. Plano                                                                                                                  1.8 Months
  2. McKinney                                                                                                          1.9
  3. Anna                                                                                                                   1.8
  4. Van Alstyne                                                                                                       4.0

Lack of inventory is a huge problem for the North Texas real estate market. As buyers continue to battle and lose over multiple offers in the suburbs, they will look further north. Few of them realize how close we are and how easy it is to commute to the south or to the north for more recreational activities like Lake Texoma and the Choctaw Casino.

As we come into the winter months, home sales will slow but so will the inventory. As long as rates remain reasonable, employment high and inventory low, you can expect price pressures to continue. If you are considering listing your home for sale, it is very important to price correctly. The sold to list price percentage and days on market is not only a reflection of the market, it is a reflection on Realtor market knowledge. We know where the sweet spots are in pricing to get the best price without appraisal problems and work with pre-approved buyers that can actually close in the shortest possible time.

Contact me if you need to list your property for the right price or find that home of your dreams.

 

Data complied from Collin County Association of Realtors – CCAR Pulse.

About Keith Laursen

I am a Fathom Realty Realtor specializing in town and country properties in the cities of Van Alstyne, Anna, Melissa, Howe, Gunter, Tom Bean, Whitewright, McKinney and Plano, TX.

My trusty horse and I will help you "spot" the best in real estate. Remember, it can't sell if it's not spotted!
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