North Texas Inventory Shortage – It’s Simple Math!

Sold Sign

We’ve been talking about the lack of housing inventory for the past six months. We have a huge demand for houses and the ones on the market that are properly prepared, priced, and show-ready are under contract in a matter of weeks (in a few days below $200k).

The question we get asked the most is “why” is this happening.

It’s simple math! Take a look at the chart above–over the past 12 months we seen new listings rise 2 percent, yet closed sales are up over 17 percent. There’s more good news. Days on Market has dropped from 95 days to 71 days and the average sales price is up 2.5 percent over last year. Even more significant is the Months of Supply which is down 36.8 percent to just 3.4 months.

What’s the take-a-way for home sellers and buyers?

If you are looking to sell, this is the best time in years. Selling now allows you to move up or move down taking advantage of the market condition not only in selling but also allows you to take advantage of the historic low mortgage interest rates.

If you’re looking to buy, you need to move quickly. Gone are the days of searching for months and coming back to see how much prices have been reduced. Wait a few weeks and the house will be under contract. The same is true for making low offers just to see what happens. We’re seeing multiple offer situations on many houses.

Looking to sell or buy a home in the North Texas area?  Click here to search for homes for sale in north Texas.

Contact us at 214-227-6626 if you need more information or want to work with an award-winning real estate team in the north Dallas suburbs.

Photo licensed from ShutterStock | Chart created by the Collin County Association of REALTORs

Now May Be The Perfect Storm For Sellers

Storm CloudsIt’s been a crazy year so far in the north Dallas real estate market. Buyers are out in droves and homes are flying off the market. The bad news for buyers is there are very few homes available in some areas and the ones that are properly priced, prepared, and show-ready are under contract in days.

This is fantastic news for potential sellers! With low inventory and lots of willing buyers, this may be one of the best times in years to list and sell their homes.  Even better news is that homes are selling for close to list price and in many cases for more than list price.

Many sellers believe that the spring may be the best time to list and sell, but selling now may actually be a better time given the market conditions and low inventory.

Thinking about selling? Click here to find out what your home may be worth.

Please contact us at 214-227-6626 if you have any questions.

Photo licensed from iStockPhoto

Outdoor Adventures in Collin County

Collin County Jogging Trail

We’ve come to know “cabin fever” much too well during this summer of extreme heat.  Driving to a client’s home most recently, I observed all that Collin County (Allen, Frisco, McKinney, Plano and Richardson) has to offer in outdoor recreation. 

Needless to say, the recent glimpse of cooler weather  brings to mind the welcome of  outdoor pleasures once again. Nature provides a comfort and a relaxing peace of mind. It’s a time to be “mindless” of events in daily life.

Another great feature of Collin County’s outdoor recreation are the subdivisions located close to the multitude of trails, parks, nature preserves and wildlife sanctuaries.  A recent first time homebuyer  was excited to find a home located  close to a beautiful local park and nature preserve.

Visit The Collin County Trails page for more information on all that Collin County has to offer.

View all homes for sale in Collin County with community walking/jogging/biking paths.

Happy Trails!

Susan L. Johnson

Golf Course Homes in Collin County Texas

Golf Course Homes in Collin County TX

When I retired from the Air Force, I relocated to the Dallas area. As I began my search for a place to live, I was amazed at the number of golf courses in the area. I eventually settled on the north Dallas suburbs in Collin County. Collin County includes the cities of Plano, Richardson, Allen, Fairview, Lucas, McKinney, and Frisco.

While I don’t golf, the idea of living on the course is appealing for a number of reasons. Living in the suburbs usually means subdivisions with homes on smaller lots. I really don’t want to have to look into my neighbor’s window every time I look out mine. I also noted that those homes seem to sell quicker and at a higher price. 

I recently sold a new home on the Westridge Golf Course in McKinney. My client was able to purchase the home for about $205k! The builder is closing out the subdivision and the lot premiums are being reduced so they can finish out.

Prices for homes on golf course lots range from $175k to several million dollars. The good news is there is something for almost everyone.

See all Collin County Golf Course Homes.

Looking for a golf course home in the Dallas suburbs? Contact us!