Collin County Local Market Update For February 2014

Collin County Local Market Update For February 2014

Collin County experienced another month of less inventory of homes for sale and a continued rise in the prices paid for homes that did sell for the month of February. New listings and pending sales were down in February, but Closed Sales, Average Sales Price and Median Sales Price were up! There was also a dramatic decrease in Days on Market Until Sale, Inventory of Homes For Sale and Months Supply of Inventory. One other statistic of significance is that the Percent of Original List Price Received has also increased.

Whether you are Buyer or Seller, these latest statistics for February once again validate what a strong seller's market that we are dealing with in the DFW area and especially Collin County. Here are the just released February statistics for Collin County provided by NTREIS.

Decreases 

New Listings were 1,268 as compared to 1,415 in 2013 or decrease of - 10.4%
Pending Sales were 916 as compared to 1,203 in 2013 or decrease of - 23.9%
Days on Market Until Sale were 46 as compared to 61 in 2013 or decrease of - 24.9%
Inventory of Homes for Sale were 2,181 as compared to 2,582 or decrease of -15.5%
Months Supply of Inventory was 1.7 months as compared to 2.3 months or - 25.7%

Increases

Closed Sales were 838 as compared to 826 or an increase of + 1.5%
Average Sales Price was $280,265 as compared to $251,972 or an increase of + 11.2%
Median Sales Price was $244,745 as compared to $210,000 or an increase + 16.5 %
Percent of Original List Price Received was 96.7% as compared to 94.4% or an increase of + 2.4%

Source: NTREIS and Old Republic Title

Steve Lester is a REALTOR with JP & Associates REALTORS and lives in Allen, Texas.
stevelesterhomes@gmail.com
http://stevelesterhomes.net/


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About Seana: Seana is a native Texan and has lived all over the Lone Star State. She & her family now call Frisco...

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