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6/19/24 Market Report: Residential Real Estate Trends in Collin, Dallas, Henderson, Hunt, Kaufman, Rains, and Rockwall Counties, TX
The real estate market in the Collin, Dallas, Henderson, Hunt, Kaufman, Rains, and Rockwall counties of Texas continues to show dynamic movement as we review the latest data trends.
Quick Stats
As of the latest report:
Total Closed Sales Count: 3,006 homes, reflecting a notable increase of 15% compared to the previous period.
Total Pending Sales Count: 4,373 homes, marking a substantial uptrend of 27%.
Total Active Listings Count: 9,256 homes, showing a modest increase of 1%.
Months of Inventory (Average): 4 months, indicating a balanced market environment.
Days On Market (Average): 61 days, with a slight increase of 5%.
Sale Price to List Price (Average): 96% ratio, showing a positive uptrend of 3%.
Market Analysis
Positive Trends:
Closed Sales: The increase of 15% in closed sales indicates robust buyer activity and confidence in the market compared to the previous reporting period. This suggests that demand remains strong across these counties.
Pending Sales: With a substantial 27% increase in pending sales, there is a clear indication of continued buyer interest and potential future growth in closed transactions.
Sale Price to List Price Ratio: The rise of 3% in the sale price to list price ratio indicates that sellers are achieving closer to their asking prices, suggesting competitive pricing strategies and strong market conditions for sellers.
Challenges and Considerations:
Days On Market: While the average days on market increased slightly by 5% to 61 days, this may indicate a moderate cooling compared to previous periods. It could reflect a balancing of the market as buyers take more time to make decisions.
Active Listings: Despite a modest 1% increase in active listings, the market remains competitive, though sellers may need to adjust strategies to attract buyers effectively.
Market Dynamics: The overall market dynamics appear healthy with a balanced inventory level of 4 months, indicating a market that generally favors neither buyers nor sellers exclusively.
Regional Insights
Collin County:
Collin County continues to attract buyers with its strong job market and quality of life, reflected in the robust sales and pending sales figures.
Dallas County:
Dallas County shows resilience with stable sales and pending sales, maintaining its position as a core market in the region.
Henderson, Hunt, Kaufman, Rains, and Rockwall Counties:
These counties demonstrate varied but generally positive trends in line with the broader regional market, offering diverse opportunities for buyers and sellers alike.
Conclusion
The residential real estate market across Collin, Dallas, Henderson, Hunt, Kaufman, Rains, and Rockwall counties in Texas shows overall strength and resilience, characterized by increased sales activities and a favorable sale price to list price ratio. While some areas see slight increases in days on market and active listings, the market remains vibrant with healthy buyer interest and competitive pricing dynamics. As we move forward, monitoring these trends will be crucial for understanding evolving market conditions and adapting strategies accordingly.
For a personalized market report, a Comparative Market Analysis (CMA) on your home, or a detailed neighborhood report, please text your address and email to 903-603-0648. I will respond by the end of the day. If you prefer to discuss your specific real estate needs, feel free to give me a call directly.
Additionally, I offer a wealth of articles covering a wide range of real estate topics. Explore them under the red star section on my website at www.amandaalllenhomes.com.
Amanda Allen,
Coldwell Banker Realtor, Heath TX
GRI,MRP,SFC
(903) 603-0648
