August 2013 McKinney MarketMinute

Home Prices in McKinney TX August 2013

So school is back in session, and the dog days of summer are behind us, but gosh darn it's been a hot month. I heard something like 28 days of 100+ degree days in row are upon us and quite frankly I'm over it!!! It may have something to do with the fact that my downstairs AC went out during the hottest days of the year and that my upstairs AC was struggling to keep us cool. I did indeed spend many a day in a chilly comfort of Starbucks waiting for my AC to be repaired.

One thing that the heat has not affected has been the plethora of buyers on the scene. Just last week I was working with a lovely couple that included a wife that is 7 months pregnant and she was sweating right along with me during the showings and it didn't slow her down a bit. Luckily we found the perfect home for them in only two outings.

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I always get a little concerned once school starts that the market will slow, it's natural. As the cooler months approach real estate buyers and sellers tend to retreat but not this year. Yaay!!! September is usually the beginning of the slow and so far I've written more contracts than in previous years.

But what about the sales of August? Growth? Price Increases? Shorter days on market? I've got all those answers and more. Let's get right to it:

In August 2012, McKinney sellers averaged 95.1% of their original asking price at closing. This year sellers received 97.1%!

A meager 643 homes in McKinney we're on the market for sale in August 2013 (up from 598 in July), compared to 791 in 2012 and 988 in 2011. 404 of those this month we're new listings.

Per NTREIS MLS, 362 homes we're closed in August and that's a 21.1% increase from last year (299).

McKinney Real Estate Report Summary

The average LIST price in August2013 for single family homes in McKinney was $285,031. Quite an increase from the $251,960 from 2012.

The medianSALES price in August 2013 for single family homes in McKinney was $224,000 (up $9,000 from last month). Thats a9.3% increase from August 2012 when it was $205,000.

The averageSALES price per square foot in McKinney for August 2013 is $97, a 9.4% increase from August 2012 ($89/sqft). But down $1 from July 2013.

In August 2013 the Average Days on Market for McKinney Home listings was only 36. Which is a 6 day increase from last month last months 36 DOM. But a 35.2% decrease from August 2012.

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Footnotes

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Posted in Home Improvement Post Date 05/22/2019


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