Skip to main content

Mckinney! Don't believe the news! Your Home Values are NOT evaporating.

 If you have a home in McKinney, you want the latest info on whether you get to Keep Your Money from the last few years' upswing in home values.  Here is the info that you need to know.


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.


The next chart will tell you the Health Report of each Price Range, by looking at Days On Market (DOM) to see which price ranges sold 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.  

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

Just schedule a quick conversation HERE so you can know now.


Price Range Health Report


200-300k

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.  20ish homes sold in 5-10 days on market (on average).  Super Healthy (Due to Scarcity)


300-350k

28 homes sold in this price range.  These are mostly smaller starter homes and rough condition properties in need of repairs, updating, and upgrading.  Desperate buyers are willing to compromise on condition and level of "move-in readiness" to own a home in McKinney.  This is where these buyers enter the market, and they are putting these homes under contract within 13 days of them coming up for sale.  Very Healthy


350-400k

100ish homes sold in about 11 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 260 homes sold with 14 average days on market, values are holding strong.  Very Healthy


***Wish you could sell your home WITHOUT daily showings?

Read more on how you can get top dollar and without hordes of strangers walking through home daily.


500-600k

Be confident that our current elevated interest rates are not going to dampen the party in this price range.  About 210 homes sold in almost 14 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 $8,500 per year and $200 per month for home insurance and the Total Budget Payment is closer to $4,217.  About 175 homes sold at an average of 16 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.  Very Healthy


700-800k

100 homes sold at an average 15 days on market.   There are 45 homes on the market right now with a median 57 days on market (so far).  The homes in this price range look like they are going to maintain current values but IF inventory goes any higher (and demand stays the same), we may hit a "value plateau".  Healthy (for now)


800-900k

Almost 50 homes sold in the past 90 days and 17 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


It's all about how buyers are reacting to the higher interest rates McKinney!  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

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

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

The 90 Day Custom Perfect Home

"Where have all the good homes gone ?"       Hundreds of homes may be for sale right now but there is an extreme shortage of really good ones!  Instead of getting what they really want, most buyers are forced to compromise in one of two ways.  They either settle for a somewhat move-in ready home OR spend much more than they intended to compete with other buyers for the one amazing home that hits the market every few weeks.  For buyers expecting this process to be simple & easy, it can be a big let down. But wait.. A third option exists!   And it's the one that will pick up that disheartened buyer and meet their romantic expectations for owning a truly amazing home.  All within a few short months! This example shows a beautiful "Santa Fe" look & feel while featuring a sister shade of the  Sherwin Williams color of the year, Cavern Clay .  Our client started with a vision, then we found a house that we could transform to meet her design