Skip to main content

HomeOwners of ALLEN! Home Values under 600k are looking SOLID, for now.

If you have a home in Allen, you probably want the latest info on whether ALL THOSE GAINS are holding or if you are losing value.  Here is some info that will help us figure this out.


Past 90 Days Sales sorted by Price Range





The best way to tell if your home is gaining in value or losing value is to see WHAT PRICE RANGES are most active.  The peak of buyer activity is in the 400-500k range, with the 500-600k range coming in second.  Coming in at 3rd place is 350-400k range.


Not sure what your home would sell for in this market?  

Just schedule a quick conversation HERE so you can know.


The next chart will tell you the HEALTH of each Price Range, by looking at Days On Market (DOM).  Determine health by seeing which price ranges sell the quickest.







The DOM is the blue line, with the average Days on Market scale on the right side of the chart. By combining both data points, we can determine which price ranges are MOST HEALTHY and least healthy.  

 

Price Range Health Report


250-300k

It's RARE for homes to pop up in this price range, so we have to assume that if they do, it's because they are in super rough condition.  11 homes sold (on average) in less than 7 days on market.  Super Healthy (Due to Scarcity)


300-350k

20 homes sold in this price range.  These are mostly smaller starter homes and rough condition properties in need of repairs, updating, and upgrading (on the East side of 75).  Desperate buyers are willing to compromise on condition and level of "move-in readiness" to own a home in Allen.  This is where they enter the market, and they are putting these homes under contract within 11 days of them coming up for sale.  Very Healthy


350-400k

40 homes sold (on average) in about 12 days on market.  There are plenty of buyers in this price range but just not enough homes.  Expect solid values to CLIMB in this price range.  Demand dictates current and future values.  Very Healthy


400-500k

PEAK market activity HERE.  There is the saying that "there is safety in numbers", and this is indeed true here.  In this grouping, buyers are MOST ACTIVE, which means your home values are safe and even climbing slightly based on this data. Almost 90 homes sold with 13 average days on market, values are holding strong.  Very Healthy


500-600k

Almost identical to the 400-500k price range.  This IS the difference in upscale suburbs, buyers are willing to pay much more to live here.  So be confident that our current elevated interest rates are not going to dampen the party in this price range.  About 80 homes sold with 12 average days on market.  Very Healthy


600-700k

IF YOU were a buyer in this price range, your average mortgage payment (with a 5.7% interest rate) would be around $3,584.  Add in the property taxes of $8,800 per year and $200 per month for home insurance and the Total Budget Payment is closer to $4,517.  Almost 70 homes sold at an average of 17 days on the market, this represents the upper end of buyer demand with a steady supply of eligible purchasers chasing the home of their dreams.  Your values are currently holding but we will have to keep a watch on the average days on market to see if values will continue northward.  Healthy


700-800k

54 homes sold at an average 33 days on market... NOT GOOD.   There are 14 homes on the market right now with an average 56 days on market (so far).  The homes in this price range are going to lose some of their steam from previous years' gains.  Unhealthy


Wish you could sell your home without daily showings?

Read more on how you can get top dollar and enjoy your last days in your home.


800-900k

Almost 40 homes sold over the past 90 days and 15 days on the market.    There are currently enough buyers & sellers in the market to support values but that could teeter-totter in the wrong direction and become unbalanced very easily.  Could Easily Turn Unhealthy... Keep Watch for Changes.


900k +

Above 900k is difficult to determine due to the unique attributes of the homes and limited sales data.  Please contact me directly if you would like to know more about your home value in this price range.  You may have to right arrangement of amenities that strikes a chord with buyers and be able to keep your recent value gains.  Case by Case


So it's all about the interest rates Allenites!  You have gone to battle with the rising interest rates and MOST of your homes are keeping the huge value gains of the past couple of years.  The articles of gloom and doom from across the county in your newsfeed are not about homes like yours, Texas is just better.  Stay tuned here to keep in touch with how awesome Texas continues to be! 

Comments

Popular posts from this blog

One-Time Close Construction Loans with Super Small Down Payments!

Have you ever DREAMED of building a Custom Home but assumed it would require a large down payment? A Home Designed to Fit You & Your Budget...  Build Your Dream Home NOW! Finally regular buyers can get a truly custom home because of low down payment, one-time close construction loans!  Find that perfect piece of land in the perfect location, design your Custom Perfect home and then wrap it all into one easy loan product! For far too long, buyers with only 3-5% to put down have had to settle for pre-existing floor plans or homes.  Why compromise on the place where you spend so much of your life?  NOW you can design your new home exactly the way you want it... YOUR Style & Design with all the floor plan, layout, features and amenities that fit How You Do Life ! Your Own Custom Perfect Spaces! What will you put in YOUR Custom Home? Master retreats, kitchens straight out of Pinterest or HGTV! Guest houses for an aging parent . Separate spaces for

Crazy Like a Fox.... Buy Your Next Home BEFORE Selling?

Imagine a world where you purchase your next home, THEN get up to 6 months to sell your current one...   That's right! On this planet, there is no selling then buying stress.  You don't have to feverishly search for your next home AFTER accepting an offer on your current one.   Sounds rough?  Just ask anyone who has done it! Skeptical?  I would be too! If you never heard of this before, it's called a portfolio loan.  They come in many shapes & sizes, but this loan type allows a buyer to be payment free for up to 6 months on their next home .  It's only available through the normal Fannie Mae conventional loan (sorry, no FHA/VA or USDA) and is structured so payments on your next home start AFTER your sell your old home.  This gives our clients the ability to have their cake and eat it too!  Carefully choose your new home and complete the purchase process... Then take your time moving out and selling your existing home.  THIS is how you transition from one h

Look at How Far We've Come! COVID Can't Keep US Down!

From the beginning of the "COVID impact" on our local real estate market, we have been tracking the health of our home values by monitoring "under contract" data to get real-time indicators.  Since SOLD data is already 30+ days OLD by the time it's published, we use this info to determine what's happening with our market NOW.   Legend:  BLUE is the 1st 10 day timeframe. ORANGE is the midway 10 day timeframe. GRAY is the latest 10 day timeframe. Collin County - April 2020 to NOW It's almost like any other summer buying season in Collin county... Healthy numbers from 200k to 500k.  We are on an upward trajectory for homes being put under contract, with the higher-end ranges making a strong comeback from where we started.  There are plenty of buyers hunting for a great home, so put your house on the market with confidence.  More info available upon request. Learn more about Selling with NO SHOWINGS Right Here. Denton County - April 2020 to NOW BELOW 300k, D