July 15, 2024 Quick Stats: Real Estate Market Trends
Over the past 90 days, the real estate market has shown dynamic trends across several counties in Texas, including Collin, Dallas, Henderson, Hunt, Kaufman, Rains, and Rockwall.
Market Trends Overview:
Total Closed Sales Count: 6,286 (up trend 14%)
Total Closed New Construction Sales Count: 1,064 (down trend -7%)
Total Closed Re-Sales: 5,079 (up trend 18%)
Average New Construction Sales Price: $351,694 (up trend 2%)
Average Re-Sales Price: $317,455 (up trend 9%)
Average Sales Price per SqFt: $140 (up trend 4%)
Implications of Upward Trends: The significant uptrends in total closed sales and average prices indicate a healthy real estate market with increased buyer activity and rising property values. The higher average prices for both new construction and re-sales suggest a good demand and possibly limited inventory, encouraging competitive pricing strategies. Additionally, the increase in average sales price per square foot reflects steady growing market confidence and investment in properties across these counties.
Implications of Downward Trend: The downtrend in total closed new construction sales (-7%) suggests a potential slowdown or reduced demand in new developments within the real estate market. This decline could indicate that the new constructions may be saturating the market, leading to decreased demand as available properties are better meeting current needs.
For personalized insights into these trends and how they impact your real estate decisions, visit www.amandallenhomes.com or contact me at 903-603-0648. If you would like your own CMA done on your area, please let me know by contacting my cell or mail at Amanda.allen@cbrealty.com.
© 2024 Amanda Allen, Coldwell Banker. All rights reserved.
Looking for a trusted real estate agent in Texas? Amanda Allen is dedicated to helping clients buy and sell homes with personalized, attentive service. Known for going above and beyond, Amanda doesn’t just manage transactions—she gets her hands dirty to ensure your home is market-ready. Whether it’s helping with the move-out process, painting walls, staining wood, or cleaning baseboards, Amanda offers services that most agents leave to outside professionals. Every family has unique needs, and Amanda earns her commission by providing a level of care and commitment that’s rare in the industry. She’s all in, and it shows.
Amanda Allen, Coldwell Banker Realtor
(903) 603-0648
www.AmandaAllenHomes.com for hundreds of Real Estate Articles & Market News!
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