Luxury homes in Collin County priced from $300,000 to $500,000 are staying on the market an average of 10 days less compared to a year ago and homes are selling at slightly higher prices over the same period. The median sales price at the end of July 2013 was $364,000 compared to $366,912 in 2014 (12 months of activity).
Homes in Collin County priced between $300,000 and $500,000 are continuing to face a supply and demand problem. As of July 2014 there were 798 homes on the market between $300,000 to $500,000, which is a -4.3% decline from only a year ago in July.
Data from NTREIS indicates a 2.6 months supply at the end of July 2014 which is a -16.1% decline from a year ago which was at a 3.1 months supply of inventory.
In July, the number of active listings – 553 – has remained fairly constant for months and is +13.3% higher than July 2013.
In July, 461 properties sold — down from 491 the previous month, but considerably higher since January at 151 sales. From January to June there has been a rapid rise in home sales.
The average price per square foot was $113, $6 more per square foot than the previous year in July.
$300,000 to $500,000 properties spend a median average of 19 days on the market, 3 days less than in July 2013.