Although we have seen a little softening in the market in some areas the past three months, prices remain dramatically higher when compared to twelve months ago. Prosper +24%, Frisco +25.8%, Celina +42.8% and McKinney +25.8%
Lack of available homes continues to be the primary cause of the solid price increases we’ve been experiencing in the area. The number of homes available for sale in Prosper is -47.6%, Frisco -43.1%, Celina -42.9% and in McKinney -25.7% when compared to the same time last year. Based on forecasts for 2022, we won’t be seeing inventory levels like prior to 2019 anytime soon.
Days on market is the number of days a home is on the active prior to the sellers accepting a purchase contract. Due to lack of inventory and an abundance of buyers looking for homes in the area properties are going into contract within 6-8 days. Rule of thumb is if you’re looking to buy a home and something you like comes on the market, see it TODAY!
Percent of Original price is the percent over asking price that a home is selling for. While we are well off the highs we saw this past June, homes are still garnering multiple offers and buyers are offering over asking price along in hopes to have their offer accepted.
Whether you’re buying a new home or looking to sell your existing home our team uses the latest tech to streamline your experience and finds out-of-the-box solutions to any challenges. We help you make timely, accurate decisions, but most importantly, we offer you personalized service and loyalty. We’re here to ensure that you enjoy a real estate journey with Merit — one that delivers top value and one you’ll remember for years to come. Click here to contact us to see how we can help you achieve your real estate goals.