Let’s examine the North Dallas market trends for October 2024. The real estate market data shows it’s moving closer to a balanced market for buyers and sellers.
First Up: Collin County, TX
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- Monthly inventory supply is 4.33, which means it would take approximately 4.33 months to sell all the current inventory of homes on the market at this pace.
- 12-month Change in Months of Inventory is at +40.13%, indicating a significant increase in the number of months it would take to sell all the inventory compared to the previous year. This could suggest a shift towards a buyer’s market.
- Median number of Days Homes are on the Market is 50, which tells us the average number of days it takes for a home to sell once it is listed. A lower number indicates a faster-moving market, while a higher number suggests homes stay on the market longer.
- List-to-Sold Price Percentage is 97.7%, meaning that, on average, homes sell for 97.7% of their listing price.
- Median Sold Price is $495,000, representing the middle price point of all homes sold. This number gives buyers and sellers an idea of the current pricing trends in the market.
Looking at these metrics together, we see a moderate inventory level, with homes selling at a high percentage of their listing price within an average of 50 days on the market.
The increase in the months it would take to sell all inventory compared to last year may indicate a slight shift towards a buyer’s market.
Overall, the market remains relatively balanced.
Buyers may have more options and negotiating power when making an offer. Sellers should be mindful of pricing their homes competitively to attract buyers in a market where homes are selling for close to their listing price.
Market Trends for Buyers and Sellers in Frisco
The numbers are in your favor:
- 4.19-month supply of Inventory
- Median Sold Price of $624,244
- Days on the market 48
- List to Sold Price percentage is at 98.1%
Talk about a win-win situation!
See homes for sale in Frisco now.
Plano Still Trending Toward a Seller’s Market
Here’s a look at the Plano stats:
- 4-month supply of Inventory
- Median Sold Price of $526,000
- Days on the market 41
- List to Sold Price percentage is at 97.4%
Plano is still a seller’s market but moving closer to a balance. Overall, this shows a fairly balanced supply and demand, homes selling quickly at close to their asking price, and the median price point steadily going up.
See homes for sale in Plano, TX
Allen, TX, is a hot market for buyers and sellers.
Inventory and days on the market are down, making Allen a fast-paced market for buyers and sellers alike.
- 3.8-month supply of Inventory
- Median Sold Price of $565,000
- Days on the market 41
- List to Sold Price percentage is at 97.9%
You can expect the market to cool down a little with the holidays ahead, but let’s see what happens in the next couple of months.
McKinney, TX Market Trends for October 2024
Dallas area market trends would not be complete without McKinney. October 2024 suggests the market is currently balanced, with a moderate inventory supply, reasonable days on the market, and strong list-to-sold price percentages.
- 4.03-month supply of Inventory
- Median Sold Price of $490,000
- Days on the market 53
- List to Sold Price percentage is at 97.5%
See homes for sale in McKinney
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